Spruce Root is a 501(c)(3) nonprofit Community Development Financial Institution (CDFI) that was founded in February 2012, with $500,000 of seed money from Sealaska Corporation through Haa Aaní Economic Development. Today the fund has grown to $3.5 million, which is possible thanks to grant, benefactor, and partner funds.
Our mission is to assist Southeast Alaska’s people and businesses to reach their full potential through loan capital and support services to promote economic, social, cultural, and environmental resiliency.
how we work
Spruce Root is partnered in building capacity and growing the economic strength of Southeast Alaska by providing:
- Technical resources, entrepreneurial mentoring and business coaching
- Small business lending in Southeast Alaska
- Education and access to funding sources and collaborative partnerships throughout the region.
Our services for small businesses include coaching, training and lending for startup enterprises, working capital, business expansion, leasehold improvements and other business capital needs – We’re flexible! We will consider any business loan opportunity that will promote the economic development of Southeast Alaska.
We operate with the belief that the entire community benefits from locally-owned businesses that are strong and contribute to the local economy.
who we serve
Spruce Root serves 23 communities throughout Southeast Alaska from Yakutat to Hydaburg and everywhere in between. Our target market consists primarily of entrepreneurs and businesses residing in low-income rural and historically native communities of Southeast Alaska. However, it is Spruce Roots’ policy not to discriminate and we enthusiastically welcome all regional entrepreneurs.