The Microenterprise Fund strives to increase access to Microenterprise and self-employment opportunities for persons with disabilities who are Alaska Mental Health Trust Beneficiaries.  Grant funds may be used for costs associated with starting a new business, expanding a current business or acquiring an existing business. 

Definition of a Microenterprise

The business must meet the definition of a microenterprise, which is a business with total capital needs of not more than $35,000 and fewer than 5 employees. 

Allowable uses of grant awards

Allowable costs include but are not limited to: business license, insurance, permits, inventory, raw materials to make a product, equipment, supplies, rent or lease for space to offer a service or product, utilities, furnishings, marketing activities, transportation costs not related to vehicle purchases, accounting services and training/support services.

Application Guidelines

The grant amounts people request vary depending on the business.  Applicants can request a minimum of $500 and a maximum of $10,000.  Multiple applications per applicant are accepted in different review periods, but the lifetime maximum is $10,000.  (For example if Joe is awarded 3,000 in 2010 he can request up to $7000 in subsequent applications).

If you are requesting $500 - $1,000 you are required to submit this application and the following supporting documentation:

• Proof of Mental Health Trust Authority Beneficiary Status.
• Documentation of your dollar for dollar match. If a portion of your match is from DVR: proof of DVR approval.
• Quotes and Specification sheets for items awarded funds will purchase.

If you are requesting $1,001 - $10,000 you are required to submit this application and the following supporting documentation:

• Proof of Mental Health Trust Authority Beneficiary Status.
• Documentation of your dollar for dollar match. If a portion of your match is from DVR: proof of DVR approval.
• Quotes and Specification sheets for items awarded funds will purchase.
• Business Plan that includes all the following parts:
  
• Description of business,
  
• Operating plan,
  
• Financial management plan,
  
• Feasibility research,
  
• Profit and loss (3 yrs),
  
• Cash flow (3yrs),
  
• Marketing plan.

Related Links

AK Mental Health Trust Beneficiary Groups  
Information regarding Mental Health Trust Authority Beneficiary groups

Small Business Development Center
Workshops, consultation, tools, and resources for small businesses

DVR
General information about eligibility, supports, services, and the rehabilitation process

Small Business Administration
Provides information and support to small businesses including online classes, templates, and resources

AK Department of Commerce, Community, and Economic Development
Provides information about owning, operating and establishing a small business in AK

Small Business Assistance  Center
Part of the Commerce, Community, and Economic Development web site with specific tools and assistance for small business owners

SCORE
Online resources and templates

AKSource Link
AKSourceLink connects a network of more than 140 not-for-profit business support organizations across the state of Alaska to aspiring and existing business owners who need their services. Browse through a complete list of resource partners in the network.