SBA Feasibility Study Consultant in Alaska

Independent, lender-ready feasibility studies for SBA 7(a) and 504 loans anywhere in Alaska. That includes Anchorage and the Mat-Su, Fairbanks, Juneau, the Kenai Peninsula, Southeast ports, and off-road-system communities. Each study is written to SOP 50 10 8.1 and the FY2027 SBA fee schedules and is prepared by David Jones, MAI, CCIM.

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738,737

Alaska residents, July 1, 2025 (Alaska DOLWD)

$14.00/hr

Alaska minimum wage since July 1, 2026; $15.00 scheduled July 1, 2027 (Alaska DOLWD)

2,706,900

Out-of-state summer visitors, summer 2025 (McKinley Research Group for ATIA, Feb. 2026)

FY2027 SBA upfront fee on qualifying rural, manufacturer and food-supply-chain 7(a) loans of $700,000 or less (SBA Information Notice 5000-881797, Sept. 3, 2026)

From $4,900

Standard delivery 10–15 business days; hotels 12–20

MAICCIM4,300+ studiesSOP 50 10 8.1FY2027 fees

When an Alaska lender asks for a feasibility study

SBA regulations at 13 CFR 120.160(b) let SBA require a feasibility study as a condition of a loan. SOP 50 10 8.1 does not require one on every 7(a) or 504 loan. In practice, though, an Alaska lender usually asks for an independent study in these cases:

Startups, or businesses with less than two years of operating history, where repayment depends on projections.
Special-purpose property: hotels, lodges, RV parks, car washes, assisted living, childcare centers, marinas and similar assets.
Complete changes of ownership. Under SOP 50 10 8.1, a buyer must inject at least 10% equity, and that requirement cannot be reduced or eliminated.
New construction or major expansion, especially where the business is seasonal, energy-intensive, or located off the road system.

Alaska makes the projections harder to defend than in most states. The population is flat. Wage increases are already scheduled. Railbelt natural gas supply is tightening. Tourism demand is concentrated in a few summer months. A study that shows its sources lets the credit committee approve the projections instead of discounting them.

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SBA rules in force for Alaska loans (as of November 3, 2026)

SOP 50 10 8.1

SOP 50 10 8.1 was issued with SBA Information Notice 5000-880695 on August 14, 2026, with technical updates in Information Notice 5000-882227 on September 25, 2026. It governs every 7(a) and 504 application that receives an SBA loan number on or after October 1, 2026. Provisions that matter most for feasibility work:

On complete changes of ownership, the 10% minimum equity injection cannot be reduced or eliminated.
Change-of-ownership loans over $3 million require an independent Quality of Earnings report.
A seller may stay on as a consultant for up to 24 months.
7(a) Small Loans can no longer finance changes of ownership.
The 504 structure is unchanged: 50% lender / 40% CDC / 10% borrower in the standard case; 15% equity for a startup or for special-purpose property; 20% when both apply.

FY2027 SBA fees (loans approved October 1, 2026 through September 30, 2027)

SBA FY2027 fees, per Information Notices 5000-881797 (7(a)) and 5000-881796 (504), both published September 3, 2026
Program	Loan size / category	Fee
7(a)	$150,000 or less	2% of the guaranteed portion (maturities over 12 months)
7(a)	$150,001–$700,000	3% of the guaranteed portion
7(a)	Over $700,000	3.5% of the guaranteed portion up to $1,000,000, plus 3.75% of the guaranteed portion above $1,000,000
7(a)	$700,000 or less to a rural-area business, a manufacturer (NAICS 31–33), or a listed food-supply-chain business	0% upfront fee
7(a)	Lender annual service fee	0.55% (lenders may not pass it to the borrower)
504	Standard	0.50% upfront guaranty fee; 0.203% annual service fee
504	Rural-area business, manufacturer (NAICS 31–33), or listed food-supply-chain business, any size	Upfront guaranty fee and annual service fee both waived

SBA's E-Tran system decides whether a project is rural, based on the project address and Census Bureau data. Alaska has no counties. Its county equivalents are its boroughs and census areas, and most of the state outside the largest urban areas is predominantly rural under Census definitions. Every Alaska study we take on starts with that rural check. If the waiver applies, the debt-service model uses the 0% fee.

Up to $10 million combined 7(a) and 504

Under SBA Policy Notice 5000-879058, which is dated May 18, 2026 and applies to loans receiving an SBA loan number on or after July 4, 2026, a borrower's outstanding 7(a) balance no longer reduces its 504 capacity. A qualified borrower who obtains the 7(a) loan first can carry up to $5 million in 7(a) and up to $5 million in 504 financing. The individual 7(a) maximum stays at $5 million. SBA's maximum guaranty exposure to one borrower stays at $3.75 million ($4.75 million for qualifying export loans). Small manufacturers keep 504 projects of up to $5.5 million each. For a large Alaska hotel, lodge, or processing plant, every layer of that stack needs its own independent demand and debt-service support. The study is designed to provide it.

Ownership and citizenship

Since March 1, 2026, under SBA Policy Notice 5000-876441, every direct and indirect owner of an SBA borrower, and every SBA-required guarantor, must be a U.S. citizen or U.S. national whose principal residence is in the United States. Any entity owner must be organized in the United States. Neither SBA's citizenship notices nor its March 31, 2026 FAQ (Information Notice 5000-877673) addresses Alaska Native Corporation or tribal ownership specifically. Our studies set out the full ownership chain so the lender can document eligibility. For size purposes, 13 CFR 121.103(b)(2) provides that concerns owned and controlled by Indian tribes, Alaska Native Corporations, Native Hawaiian Organizations or CDCs are not affiliated with each other merely through that common ownership, common management, or shared administrative services.

SBA lending in Alaska

The SBA Alaska District Office

The SBA Alaska District Office is at 222 West 8th Ave., Suite A21, Anchorage, AK 99513. It sees visitors by appointment only, its phone number is 907-308-5741, and it serves all 19 organized boroughs and 11 census areas. As of November 3, 2026, the staff section of the office's sba.gov page lists Erica C. Rivera, Deputy District Director.

Alaska's award-winning SBA lenders (FY2024)

In April 2025 the Alaska District Office announced its FY2024 awards (announcement reposted by the Alaska SBDC):

KeyBank, 2024 Lender of the Year: 18 7(a) loans totaling $4,495,300.
Evergreen Business Capital, 504 CDC of the Year: 15 504 loans totaling $13,586,000.
Global Credit Union, 504 Third Party Lender of the Year: 5 504 loans totaling $6,103,655.

Earlier district honorees included Northrim Bank (FY2022 and FY2023) and McKinley Alaska Growth Capital (FY2023 Community Lender).

504 CDC coverage

Evergreen Business Capital is a nonprofit CDC based in Seattle with an Anchorage office at 1400 W Benson Blvd, Suite 100. It covers Washington, Oregon, Alaska and northern Idaho, and it is the CDC the Alaska District Office has honored most often (504 CDC of the Year for FY2024; Lender of the Year for FY2022 and FY2023).

Alaska capital that can sit alongside SBA debt

Alaska projects often combine SBA debt with state, tribal and USDA capital. The study has to support every layer of that stack.

AIDEA Loan Participation Program: The Alaska Industrial Development and Export Authority can buy up to 90% of an eligible lender's loan, up to $25 million. AIDEA's portion can carry a longer term than the bank's, which lowers debt service. Native American Bank became an eligible AIDEA lender in June 2026.
SSBCI, state program: Alaska's roughly $59.9 million State Small Business Credit Initiative program launched October 24, 2022. It is administered by the Alaska Small Business Development Center at the University of Alaska Anchorage.
SSBCI, Tribal consortium: On August 6, 2024 the U.S. Treasury approved up to $83.1 million for a consortium of 125 Alaska Tribes, the largest Tribal SSBCI consortium in the country. It is also administered by the Alaska SBDC at UAA. Treasury's allocation was $10.3 million for loan participation, $37.9 million for loan guarantees, $12.0 million for collateral support and $22.9 million for equity and venture capital.
State direct lending: The Alaska Department of Commerce, Community, and Economic Development's Division of Investments runs state loan programs that include Small Business Economic Development, the Rural Development Initiative Fund, the Alaska Microloan, Alternative Energy, Commercial Fishing, Commercial Charter Fisheries, Mariculture and Fisheries Enhancement.
USDA Business & Industry guarantees: USDA's B&I program serves rural areas. In Alaska that means projects outside the Municipality of Anchorage, which is the state's only city above the program's population threshold. B&I is the usual companion to SBA debt for larger rural tourism, processing and energy projects.
Alaska SBDC: As of April 2026 the Alaska SBDC is led by State Director Jared Reynolds. It has offices in Anchorage, Fairbanks, Juneau, Kenai Peninsula, Ketchikan, Mat-Su and a Rural office.

Alaska market conditions your study must model

Population and demand

Alaska had 738,737 residents on July 1, 2025, up 1,649 (0.2%) in a year (DOLWD release, January 28, 2026).
1,740 more people left Alaska than arrived in 2024–25, the 13th straight year of net out-migration. Natural increase of 3,389 is the only reason the population grew (DOLWD, January 28, 2026).
The 65+ population grew 3.2% in a year, the 18–64 population fell 0.1%, and children fell 0.8% (DOLWD, January 28, 2026).
The Census Bureau's Vintage 2025 estimate is 737,270 for July 1, 2025. DOLWD's figure runs higher because DOLWD also surveys military bases and group quarters.
Borough populations, July 1, 2025 (DOLWD): Anchorage 289,221; Mat-Su Borough 117,412 (largest gain statewide, +1,696); Fairbanks North Star Borough 97,083; Kenai Peninsula Borough 61,327 (+287); Juneau 31,182; Ketchikan Gateway Borough 13,377.

Lenders expect growth assumptions to rest on borough-level data, not statewide trends. Mat-Su is the one large market with clear household growth.

Labor costs

Under Ballot Measure 1 (approved November 2024), Alaska's minimum wage rose to $13.00 on July 1, 2025 and to $14.00 on July 1, 2026. It is scheduled to reach $15.00 on July 1, 2027, with annual inflation adjustments starting January 1, 2028.
Alaska has no tip credit. Overtime applies after 8 hours in a day as well as after 40 hours in a week. Exempt salaried employees must earn at least twice the minimum wage for a 40-hour week, which is $1,120 per week from July 1, 2026.
Since July 1, 2025, employees accrue paid sick leave at 1 hour per 30 hours worked, up to 40 hours a year at employers with fewer than 15 employees and 56 hours at employers with 15 or more (Ballot Measure 1).
Alaska averaged 337,300 nonfarm jobs in 2025, and unemployment averaged 4.7% (DOLWD). Federal civilian employment was 13,300 in March 2026, down 12.5% from a year earlier (DOLWD).

Tourism and seasonality

Summer 2025 brought 2,706,900 out-of-state visitors, essentially flat with 2024 (+0.1%). Of these, 1,777,000 arrived by cruise (−0.4%), 845,900 by air (+0.8%) and 84,000 by highway or ferry (+7.3%) (McKinley Research Group for ATIA, February 2026).
Cruise passengers by port, 2025 (Alaska DCCED Commercial Passenger Vessel Tax report, January 2026): Juneau 1,712,600; Ketchikan 1,524,200; Skagway 1,358,500; Sitka 582,800; Hoonah 502,100; Whittier 296,300; Seward 140,700.
The state levies a $34.50 commercial passenger vessel excise tax per passenger. It is collected by the Department of Revenue Tax Division, and $5.00 per passenger is shared with each of the first seven ports of call (DCCED CPV Tax report, January 2026).
Since the 2026 season, a voluntary agreement between the City and Borough of Juneau and Cruise Lines International Association has capped cruise berths calling at Juneau at 16,000 a day Sunday through Friday and 12,000 on Saturdays. A five-large-ships-per-day agreement has been in place since 2024.
Seward's new cruise terminal, built in partnership with Royal Caribbean and the Alaska Railroad, is scheduled to open in 2026. Royal Caribbean, Celebrity and Silversea will together guarantee 140,000 passengers a year once it opens (DCCED CPV Tax report, January 2026).
Summer 2025 hotel performance (STR via ATIA): Anchorage 80% occupancy (−2%) at $291 ADR (+8%); Fairbanks 74% (−6%) at $248 (+3%); Juneau 70% (flat) at $235 (−5%).
From May 2024 to April 2025, Anchorage drew 1.34 million out-of-state visitors who spent $1.09 billion directly ($815 per person). More than 20% of them came between October and April, and about half of Anchorage hotel room demand falls outside summer (McKinley Research Group for Visit Anchorage, September 2025).

In Southeast, we underwrite cruise volume as flat. Season length is modeled explicitly, and winter is underwritten separately from summer.

Energy and operating costs

Cook Inlet gas supply is tightening. On July 8, 2026 the Regulatory Commission of Alaska denied Enstar's request for an advance prudence determination on a new Kenai gas storage facility. In August 2026 Enstar filed an arbitration claim against producer HEX. Enstar has also asked the RCA to approve a 1.2 Bcf gas exchange with MEA, to be delivered by December 15, 2026.
Enstar has estimated imported LNG at about $15/Mcf in 2033 if Enstar is the import terminal's only user. Glenfarne is targeting late 2029 for domestic gas deliveries from Alaska LNG Phase One. As of November 3, 2026, Glenfarne had not announced a final investment decision.
The Alaska average residential electricity price was 26.9¢/kWh for the 12 months through August 2026, up 5.0% year over year (EIA). The FY2026 Power Cost Equalization base rate is 20.38¢/kWh (RCA Docket U-25-010). PCE covers residential use only, so commercial accounts do not receive it.
Alaska's average gasoline price was $4.94/gal on October 16, 2026, and diesel set a record high in September 2026 (KTUU).

For Railbelt laundromats, car washes, restaurants, hotels and heated storage, our studies stress-test utility costs at +25% to +50% for 2029–2033.

Physical risk

The Mendenhall River crested at a record 16.65 ft on August 13, 2025 during Juneau's glacial outburst flood. Nearly 50 homes were damaged even though about 10,000 HESCO barriers largely held (ADN, August 19, 2025).
The remnants of Typhoon Halong hit western Alaska on October 11–12, 2025. In Kipnuk, 121 homes (90%) were destroyed (Governor's disaster request). In December 2025, KYUK reported nearly $3.7 million in SBA home-restoration loans approved for 63 individuals.
The M7.1 Anchorage earthquake of November 30, 2018 remains the reference seismic event for Southcentral projects.

Mendenhall Valley, coastal and seismic sites get site-specific flood and insurance analysis in the study.

Alaska asset classes we study

Alaska asset classes we study. Market signals as of the dates shown.
Asset class	Alaska market signal (dated)
Hotels and lodges	Summer 2025 occupancy 80% Anchorage, 74% Fairbanks, 70% Juneau; ADR $291 / $248 / $235 (STR via ATIA). About half of Anchorage room demand falls outside summer (Visit Anchorage, Sept. 2025).
RV parks and campgrounds	Highway/ferry visitors rose 7.3% to 84,000 in summer 2025, still below the 2018 peak of 97,200 (McKinley/ATIA).
Restaurants	$14.00 minimum wage since July 1, 2026, rising to $15.00 on July 1, 2027, with no tip credit (DOLWD).
Childcare	Alaska's 0–17 population fell 0.8% in 2024–25 (DOLWD, Jan. 28, 2026). The DOH Child Care Program Office licenses facilities statewide except in the Municipality of Anchorage, which runs its own licensing program.
Assisted living	The 65+ population grew 3.2% in 2024–25 (DOLWD, Jan. 28, 2026).
Medical and dental	DOLWD forecast health care as the largest source of 2026 job growth (+1,100).
Self-storage	Mat-Su added 1,696 residents in 2024–25, the largest gain statewide (DOLWD).
Car washes and laundromats	Statewide average residential electricity was 26.9¢/kWh for the 12 months through August 2026 (EIA). Railbelt gas supply is tightening (RCA, July 8, 2026).
Gas stations and c-stores	Alaska gasoline averaged $4.94/gal on Oct. 16, 2026, and diesel set a record in Sept. 2026 (KTUU).
Marinas and boat storage	Whittier cruise passengers rose to 296,300 in 2025 and Seward's fell to 140,700 (DCCED, Jan. 2026).
Trucking and logistics	Transportation, warehousing and utilities added 1,200 jobs year over year (+5.2%) as of March 2026 (DOLWD).
Aviation and air taxis	Anchorage handled 73% of summer 2025 visitor air exits, Fairbanks 12% and Juneau 7% (McKinley/ATIA).
Seafood processing	Seafood processing employment fell 6.3% in 2024 (DOLWD).

Alaska markets we cover

Anchorage

289,221 residents, July 1, 2025 (DOLWD): 12% room tax, no municipal sales tax. Summer 2025 hotel occupancy 80% at $291 ADR (STR via ATIA). 1.34 million out-of-state visitors, May 2024–April 2025 (Visit Anchorage).

Mat-Su Borough

117,412 residents; +1,696 in 2024–25 (DOLWD): city sales taxes of 2.5% in Wasilla, 4% in Palmer and 2% in Houston (ARSSTC). The fastest-growing household market in the state.

Fairbanks North Star Borough

97,083 residents (DOLWD): summer 2025 occupancy 74% (−6%) at $248 ADR, with bed tax revenue down 3% (ATIA). DOLWD attributes part of the recent population growth to F-35 personnel at Eielson AFB.

Juneau

31,182 residents (DOLWD): 5% sales tax and 9% bed tax. A $5 Marine Passenger Fee has been in place since 1999. 1,712,600 cruise passengers in 2025 (DCCED, Jan. 2026). The voluntary 16,000/12,000 daily berth caps have applied since the 2026 season. Mendenhall flood risk applies.

Kenai Peninsula Borough

61,327 residents (DOLWD): 3% borough sales tax plus city taxes (Kenai 3%, Soldotna 3%, Homer 4.85%, Seward 4%). Seward cruise passengers were 140,700 in 2025, and the new Seward terminal is scheduled to open in 2026 (DCCED).

Ketchikan Gateway Borough

13,377 residents (DOLWD): 2.5% borough sales tax. The City of Ketchikan charges 5.5% from April to September and 3% from October to March, plus a $9 per-passenger wharfage fee (DCCED, Jan. 2026). 1,524,200 cruise passengers in 2025.

Skagway

5% sales tax from April to September and 3% from October to March. $13 per passenger at municipal docks under the tariff adopted December 18, 2025. 1,358,500 cruise passengers in 2025 (DCCED).

Off-road-system communities

We underwrite seasonal freight, fuel and construction timing. We also model the USDA B&I and Rural Development Initiative Fund layers, which are often part of the capital stack.

What an Alaska feasibility study from us includes

Market area definition at the borough or census-area level, using DOLWD estimates and the Census Bureau's Vintage 2025 data.
Demand and pricing support, with seasonality modeled month by month.
Labor build at $14.00 now and $15.00 from July 1, 2027, including daily overtime and paid sick leave accrual.
Utility and fuel sensitivities for Railbelt and rural sites.
SBA structure check under SOP 50 10 8.1: equity injection, 504 equity tier, the FY2027 fee (including the rural, manufacturer and food-supply-chain 0% tier) and combined 7(a)/504 limits.
A capital stack that brings in AIDEA, SSBCI, Division of Investments or USDA B&I layers where the lender uses them.
Debt-service coverage under base, downside and recovery cases.
An ownership-structure exhibit for the citizenship rule, including ANC and tribal entities.

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Fees and timing

Studies start at $4,900.
Standard delivery: 10–15 business days.
Hotels: 12–20 business days.
You receive a written fixed-fee proposal within one business day of sending your project details.

Start with a fixed-fee proposal

Who prepares your study

David Jones, MAI, CCIM, has completed more than 4,300 feasibility studies. Every Alaska study is prepared under his direction and signed by him.

David Jones, MAI, CCIM | 4,300+ feasibility studies completed

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Alaska SBA feasibility study FAQ

Does SBA require a feasibility study for an Alaska loan?

Not on every loan. Under 13 CFR 120.160(b), SBA may require a feasibility study, and lenders commonly do for startups, special-purpose property such as hotels, lodges and RV parks, complete changes of ownership, and new construction. If you have a commitment letter or term sheet, send it, and we will match the study to what the lender asked for.

Which SBA rules apply to a loan submitted now?

SOP 50 10 8.1 applies to every 7(a) and 504 application that receives an SBA loan number on or after October 1, 2026. Fees follow the FY2027 notices for loans approved October 1, 2026 through September 30, 2027 (Information Notices 5000-881797 and 5000-881796, published September 3, 2026).

Will my Alaska project qualify for the 0% upfront fee?

For 7(a) loans of $700,000 or less, the FY2027 upfront fee is 0% for businesses in a rural area, manufacturers (NAICS 31–33) and listed food-supply-chain businesses. For 504 loans in the same categories, both the upfront guaranty fee and the annual service fee are waived at any loan size. SBA's E-Tran system makes the rural determination from the project address. Our study models the fee that applies.

How much does a study cost and how long does it take?

Studies start at $4,900. Standard delivery is 10–15 business days, and hotels take 12–20 business days. You receive a written fixed-fee proposal within one business day.

How does SBA's citizenship rule affect ANC-owned or tribally owned borrowers?

Since March 1, 2026, SBA has required every direct and indirect owner and every required guarantor to be a U.S. citizen or national whose principal residence is in the United States, and any entity owner to be organized in the United States. SBA's notices and its March 31, 2026 FAQ do not address Alaska Native Corporations or tribes specifically. Our study sets out the full ownership structure so the lender can document eligibility.

Can SBA debt be combined with AIDEA, SSBCI or USDA financing?

Yes, and Alaska deals often do it. AIDEA's Loan Participation Program can buy up to 90% of an eligible lender's loan, up to $25 million. Alaska's state and Tribal SSBCI programs are administered by the Alaska SBDC at UAA. USDA B&I serves projects outside the Municipality of Anchorage. Since July 4, 2026, a borrower can also carry up to $5 million in 7(a) and up to $5 million in 504 financing.

Do you work on projects off the road system?

Yes. Off-road-system studies model seasonal freight and fuel costs, construction windows, and the rural capital layers that usually come with these projects, including USDA B&I and the state's Rural Development Initiative Fund.

Who signs the study?

David Jones, MAI, CCIM, who has completed more than 4,300 feasibility studies.

Sources

Other figures on this page are attributed inline to SBA information and policy notices, McKinley Research Group, STR via ATIA, EIA, the Regulatory Commission of Alaska, AIDEA and named news outlets.

Get a lender-ready feasibility study for your Alaska project

From $4,900. Delivered in 10–15 business days (hotels 12–20). Written fixed-fee proposal within one business day. Signed by David Jones, MAI, CCIM.

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