Six Norton Sound businesses receive NSEDC SBI grants in 2016 totaling $160,000
NOME—The Norton Sound Economic Development Corporation’s (NSEDC) Small Business Initiative (SBI) program awarded a total of $160,000 to six regional entrepreneurs at a ceremony on Wednesday, October 12, 2016. The NSEDC SBI offers grants up to $35,000 to residents from its member communities to encourage small business development.
In its eight-year history, NSEDC has awarded $1,022,654 to 46 recipients throughout the Norton Sound region. Of those awards, NSEDC has disbursed nearly $600,000 to turn regional business plans into reality.
“To surpass the million-dollar mark in available small business grants is something we recognize as significant,” NSEDC’s Community Benefits Director Paul Ivanoff III said. “But to know that this program has helped to grow small business development in the region is what we at NSEDC are truly proud of. The program has impact.”
In 2016, NSEDC received 14 proposals and an independent panel of judges narrowed down the applicants to six finalists who gave presentations during the final evaluation process. All six finalists received a new laptop with QuickBooks Pro and Microsoft Office software installed to assist in their business operations. The 2016 judges included Mark Vink and Annabelle Cunningham of Unalakleet, and David Olson and Donna James of Nome. The judges are responsible for narrowing down the field of applicants to the finalists, and then allocating the available program funding among those chosen for grant awards.
NSEDC congratulates the 2016 Small Business Initiative recipients. To provide a higher level of support for the businesses that have the best chance of succeeding, a few changes are being implemented for future SBI competitions. The maximum award amount will be increased to $50,000, and the number of grants awarded will be capped at three per competition. The competition will also move to an every-other-year schedule. Full details of the competitive grant program’s requirements and schedule will be detailed in December.
If you have questions regarding the NSEDC SBI program and the 2016 competition, contact Community Benefits Director Paul Ivanoff III at (907) 624-3190 or email@example.com.
2016 NSEDC SBI Grant Recipients
|Bering Tea & Coffee, LLC||Kristine McRae||Nome||$17,657|
|Crystal’s Cache||Crystal Dewey||Koyuk||$26,000|
|Fifty Shades Hair Salon & Neva Creek Photography||Katie O’Connor||Nome||$25,000|
|K-C-E Snack Shop||Adeline & Perry Pungowiyi||Savoonga||$21,343|
|Midnite Sun Reindeer Ranch, LLC||Lawrence B. Davis||Nome||$35,000|
|MK Supply, LLC||Melissa Ford||Nome||$35,000|
Bering Tea & Coffee, LLC – Kristine McRae purchased the cafe in Nome from former SBI awardee Erin Forton. Residents can enjoy espresso drinks and fresh-baked goods in a comfortable atmosphere. To meet current market demand and increase production, the kitchen needs to be upgraded.
Crystal’s Cache – Crystal Dewey, a long-time employee of Corrine’s Video, will be purchasing the business. The business, located in Koyuk, offers DVD rentals, part-time employment for youth, and a warm place for teens to gather.
Fifty Shades Hair Salon & Neva Creek Photography – Katie O’Connor, of Nome, is looking to complete the construction of her hair salon and upgrade her photography equipment. Ms. O’Connor has an established base of customers, and she intends to attract new patrons with a completed shop.
Midnite Sun Reindeer Ranch – Lawrence Davis owns the reindeer herding company. He hopes to increase the size of the herd to meet the long-term goal of selling reindeer byproducts and providing eco-tourism for Nome visitors.
K-C-E Snack Shop – The family-owned snack shop will be a small convenience store. K-C-E Snack Shop will be located in the St. Lawrence Island community of Savoonga. Owners Adeline and Perry Pungowiyi plan to renovate an existing building and open a small store offering snacks and supplies for the community.
MK Supply, LLC – Melissa Ford plans to start a rental supply business in Nome with the intent to serve three main markets: home maintenance, events, and subsistence hunting/fishing supplies. Equipment will include, but will not be limited to, carpet shampooers, trimmers, event tents, tables, fishing nets, sleds, ATV trailers and crab pots.
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