The Native American Business Development Institute (NABDI) Grant, which funds feasibility studies for new business, application deadline is July 2, 2021.
The NABDI Grant funds tribes in weighing the risks of a new business endeavors.
Some examples of past Grant recipients include:
- Evaluate the financial sustainability of a recreational vehicle park project
- Explore the possibility of turning an old building into an art gallery and park
- Evaluate the feasibility of developing an on-reservation affordable housing complex
- Explore the viability of developing a destination resort comprised of a hotel, conference center and casino
- Evaluate a proposed commercial site for tourism purposes.
- Determine the best use for a land parcel to further its goal of developing an industrial warehouse and distribution center.
The NABDI Grant can range from $25,000 to $75,000, and approximately 20 to 35 grants will be issued.
Why conduct a feasibility study?
Feasibility studies are appropriate for almost any type of potential business project.
Feasibility studies are used by tribal governments as economic development decision-making tools, and they can be used to access funding opportunities. Some state and federal grants require feasibility studies, and most lenders and investors prefer to review a feasibility study before providing capital.
Here are details on the application process – https://www.bia.gov/service/grants/tedc/apply-nabdi-grant
* U.S. Department of the Interior Indian Affairs
My input, opinion, and potential opportunity
The village I lived in as a child has a lot of great business opportunities within the tourism sector. It’s the last location on the Alaska Highway before entering Canada, and, during the summer, tourism past this location is incredibly high of people searching for the Alaskan experience. I think an Airbnb may be a good business to evaluate at this location.
There are 3 Airbnb’s at the nearest “town”, which is one hour away on the Alaska Highway (opposite of Canada). The prices start at $139 and go up to $169 per night; however, these locations are not by bodies of water and do not offer the frontier experience of Alaska.
3.5 hours away, along the Alaska Highway, the houses by bodies of water range between $250 and $350 a night.
The house that costs $250 a night, 3.5 hours away, is almost entirely booked for June, July, and August.
Testing the feasibility of an Airbnb business in this village may be beneficial for both the tribal government’s economic success and providing jobs for local tribal members in both the building and maintenance of the location. I believe the NABDI Grant would be a great tool to decide whether this would be a beneficial business for the area.