Trustee: Anchorage Economic Development Corporation
- Why are you interested in becoming a Trustee?
- Developing Southcentral Alaska's economy is one of AEDC's core missions. Providing seed funding to entrepreneurs in Anchorage will be a key component of that development.
- What is the mission of your organization?
- To develop the economy of Southcentral Alaska through local and national outreach, economic research and promotion of business opportunites
Borrower Due Diligence
- How will you decide who to endorse as a borrower? What due diligence will you conduct?
- There are several mechanisims AEDC will use to locate potential borrowers. We do several entrepreneurial outreach events during the year aimed at new or recently formed businesses. We also work closely with small business organizations such as the Anchorage Chamber of Commerce and the Small Business Development Council both of which could refer borrowers to us for review. We will conduct extensive due diligence including basic fact checking using online sources and if necessary, third party services. AEDC staff will conduct a thorough business plan review similar to what we conduct for the 49th State Angel Fund or the various business plan competitions were are involved in. Our research staff will also preform economic modelling using in house software and tools such as ArcGIS Business Analyst, the SBDC financial tools and other resources as necessary. Staff will also use our understanding of the economics in the community.
About Anchorage Economic Development Corporation
Trustee type: 501 (c) 6 Non-profit Corporation
Location: Anchorage, AK
Time on Kiva: August 7, 2012 (55 months)
Total loans: $20,000
Paying on time: Not enough data
Paying back late: Not enough data
Repayment rate: 100%
All Loans for this Trustee