NSEDC offers business grant opportunities of up to $35,000 to member community residents
NOME—The Norton Sound Economic Development Corporation (NSEDC) has opened the application period for the 2015 Small Business Initiative. In its eighth year, the program helps spur economic activity and job growth by supporting entrepreneurs in developing or expanding their businesses. So far, since 2008, NSEDC has awarded $735,000 to 36 business ventures throughout the Norton Sound region. Through the competitive grant program, entrepreneurs can receive up to $35,000 for business startups or expansions.
NSEDC opened the application period April 10 and will accept completed applications through July 15, 2015. The Small Business Initiative is open to residents of NSEDC member communities and applications can be found at www.nsedc.com, at NSEDC offices, or through NSEDC Community Outreach Liaisons.
Once the application period closes, an independent panel of judges reviews the applications to produce a list of finalists. The finalists present their business plans to the panel, in person, in late summer or early fall. The judges may award grants up to $35,000 to each grant recipient, awarding $105,000 in total. In 2014, 21 proposals were narrowed down to six finalists. Four proposals were awarded funding, including a Nome car dealership, an ecotourism business based in Teller and Nome, a repair shop in Brevig Mission, and a café in Gambell.
Resources are available for those preparing an NSEDC Small Business Initiative application. Kawerak Inc.’s Community Planning and Development department provides assistance for applicants putting together their proposal before the competition. For more information on their services, contact Kawerak Business Planning Specialist Alice Bioff toll-free at (877) 219-2599 or at 443-4366 in Nome.
For further information on the Small Business Initiative, contact NSEDC Community Benefits Director Paul Ivanoff III at (907) 624-3190 or firstname.lastname@example.org.