Six Norton Sound entrepreneurs have been awarded a total of $160,000 in Small Business Initiative grants through a program now in its eighth year for the region’s community development quota entity.
The Norton Sound Economic Development Corp.’s SBI awards granted in ceremonies on Oct. 12 are the latest in a total of 46 such grants, now totaling $1,022,654 throughout the Norton Sound region.
“To surpass the million-dollar mark in available small business grants is something we recognize as significant,” said Paul Ivanoff III, NSEDC’s community benefits director. “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,” he said.
This year an independent panel of judges considered 14 proposals before narrowing the list down to six finalists, who gave presentations during the final evaluation process. Each of the finals received a new laptop with QuickBooks Pro and Microsoft Office software installed to assist in their business operations.
This year’s grant award winners are Kristine McRae, Bering Tea & Coffee LLC, Nome, $17,657; Crystal Dewey, Crystal’s Cache, Koyuk, $26,000; Katie O’Connor, Fifty Shades Hair Salmon & Neva Creek Photography, Nome, $25,000; Adeline & Perry Pungowiyi, K-C-E Snack Shop, Savoonga, $21,343; Lawrence B. Davis, Midnite Sun Reindeer Ranch, LLC, Nome, $35,000; and Melissa Ford, MK Supply LLC, Nome, $35,000.
Ivanoff said that to provide a higher level of support for businesses that have the best chance of succeeding a few changes are being implemented for future SBI competitions. The maximum award is being increased from $35,000 to $50,000.
The number of grants awarded will be capped at three per competition, the competition moved to an every-other-year schedule. Details for the competitive grant program’s requirements and schedule are to be announced in December.
