NSEDC offers business grant opportunities of up to $35,000 to member community residents
UNALAKLEET—The Norton Sound Economic Development Corporation (NSEDC) has opened the application period for the 2016 Small Business Initiative. In its ninth 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 made $862,628 available to 40 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 1st and will accept completed applications through July 15, 2016. 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 of up to $35,000 to each recipient, with the potential to award up to $150,000 in total. In 2015, 23 proposals were narrowed down to five finalists. Four proposals were awarded funding, including a store; an animal boarding, grooming and supply shop; a Toyostove supply and repair shop; and a hair salon.
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. They are sponsoring a Small Business Development Conference April 26 & 27 in Nome, in conjunction with the U.S. Small Business Administration and other small business support entities. 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 pivanoff@nsedc.com, or Sterling Gologergen at (907) 443-2477 or sterling@nsedc.com.
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