Harvest Initiative Awards Another Equity Grant

Sept. 8, 2009

The Harvest Initiative, Inc awarded a $7,000 equity grant to entrepreneur Terence Big Eagle in Fort Thompson on September 1, 2009 for use toward development of Big Eagle Hunting Lodge on the Crow Creek Sioux Indian Reservation.

This is the second equity grant awarded by The Harvest Initiative on the Crow Creek Reservation. Because of the generous support of the South Dakota Community Foundation another competitive application period will open in the near future.

“We are excited to provide support to Terence in his new venture,” said Dustin Miller, Director of Development and Marketing for The Harvest Initiative. “This business allows a local entrepreneur to capitalize on the abundant natural resources of the reservation. We are also excited to see what business plans are submitted in the upcoming round.”

The Harvest Initiative Business Development Fund was created to address the critical lack of owner’s equity available for entrepreneurs on the Crow Creek Reservation. Owner’s equity is defined as the monies invested by an owner in his or her own business. Unlike non-native small business owners, traditional forms of equity from home ownership, family and friends are often not available to the Indian business owner at Crow Creek for various economic reasons.

The money awarded through this program can be used for several purposes including the purchase of new equipment or creation of new product lines. The Fund requires a dollar to dollar collateral match which can be satisfied with committed loan funds or in kind matches such as inventory, supplies, equipment, tools or vehicles that are part of the activity of the business.

The Harvest Initiative Business Development Fund is open to enrolled members of federally recognized tribes residing on the Crow Creek Reservation.

The Fund is modeled after a successful program created by the Montana Department of Commerce called the Montana Indian Equity Fund.

For more information on The Harvest Initiative Business Development Fund or to request an application, please contact Jason Yates at (605) 870-6196 or PO Box 175, Fort Thompson, SD 57339.

The Harvest Initiative, Inc. was organized in the spring of 2008 to invest locally in native grown ideas and support socially responsible business development to move the Crow Creek Sioux Reservation toward a commercially viable, self-sustaining economic environment.