22 apply for Pendleton business plan competition
By Terry Murry on Thursday, May 2nd, 2024 in Columbia Basin News More Top Stories
PENDLETON – There are 22 applications in for Pendleton Urban Renewal’s Path to Success business plan competition this year. The top four will receive $20,000 in the form of a forgivable loan from the Pendleton Development Commission that will go towards opening a business in downtown Pendleton.
This year, there’s also a new way to win. Nixyaawii Community Financial Services is sponsoring a $2,500 grant challenge for Tribal entrepreneurs. Pendleton Urban Renewal Associate Director Charles Denight said having NCFS involved made a difference.
“We got 22 applicants this year,” he said. “Of the 22 applicants, 12 are Tribal members.”
Now the 22 are working on their business plans. They also must take a business plan class. To qualify for the Path to Success forgivable loan, they must have $10,000 to invest in their business. To become eligible for the Tribal grant, they must have $500 to invest. Those who don’t win are free to apply again in 2025. The downtown business can be retail or restaurants. Suggestions of possible retail businesses include clothing, shoes, gifts, books, home furnishings, kitchenware, mini-marts, makers and other artists, and recreational activities.
The restaurant category also applies to delis, desert bars, or other forms of retail food and beverage sales. Food carts are not eligible for the forgivable loans from the PDC, but are eligible for the Tribal grant program.
