PUBLISHED: 6:05 PM on Wednesday, June 4, 2008
Brain Power
JEDC business loans now available
JUNEAU - The Juneau Economic Development Council announced May 29 that it will begin accepting applications for the Business Electricity Loan Program (BEL) from $500,000 appropriated by the City and Borough of Juneau.

"JEDC was asked to develop a loan program to help Juneau's most vulnerable businesses pay for sudden unanticipated increases in the price of electricity during the current electricity crisis," said Brian Holst, JEDC's executive director.

"The BEL program has broad eligibility and complements AEL&P's efforts to help viable businesses which cannot afford to pay for their electricity costs and do not have access to conventional financing products," he added.

The electricity loan program will provide short-term three percent fixed-rate loans to fund 70 percent of the Cost of Power Adjustment (COPA) of for-profit businesses, including home-based businesses that were operating at the time of the avalanche. Application forms and full details are available on JEDC's website, or from the Juneau Unplugged website. AEL&P will also provide small business rate payers with information about the program as a billing insert.

Application packets can be picked up at JEDC's office at 612 W. Willoughby Avenue, Suite A, or at AEL&P's office, the CBJ sales tax office, at local banks and at the Juneau Small Business Development Center (JSBDC). The JSBDC has offered free assistance to business owners who need help to complete BEL applications.

Call 463-3789 for an appointment with Jackie Stewart at the JSBDC. Businesses need not have received the rate-adjusted billing to apply for the loan, but are required to submit a written bank credit decline letter for a similar loan amount.

JEDC and AEL&P will be working together to help businesses obtain the lowest cost overall payment plan. JEDC will accept BEL applications until September 30 as long as funding is available.

Resources to Remember

"Brain Power" is a new weekly segment focussed on energy conservation and assisting Juneau residents in re-taking control during the energy crisis. Submit your conservation tips and ideas to


(907) 780-2222

After hours: (907) 586-9765

5601 Tonsgard Ct., Juneau, AK 99801

Hours: 7:30-5:30 Mon-Fri.

Alaska Energy Authority

(907) 771-3000

Fax: (907) 771-3044

Toll Free: (888) 300-8534

AK Dept. of Natural Resources

(907) 269-8400

Financial Assistance

Residential: United Way of Southeast Alaska

(907) 463-5530

Fax: (907) 463-4649

Residential: Catholic Community Services

(907) 463-6130.

Comm: KeyBank

(907) 564-0252

Comm: Juneau Economic Development Council

(907) 523-2300

Fax: (907) 463-3929

--Eligibility for financial assistance varies and is determined by the above mentioned organizations

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