Local Bank Distributes $10,000 to Three Community Businesses
Published in: Press Release
Tioga, ND, Nov. 29, 2018- The Bank of Tioga distributes $10,000 to three local businesses as the result of its REV competition.
Friday, Nov. 16, The Bank of Tioga held its second annual REV event, a small business pitch competition, in an effort to reinvest in local businesses and entrepreneurs. With $10,000 at stake, applicants were given 10 minutes to pitch their business ideas, with five minutes for questions from a panel of four judges. Judges included: David Grubb, President of The Bank of Tioga; Savanna Hendrickson, Credit Administrative Officer at The Bank of Tioga; Dennis Lindahl, Director of Tioga's Economic Development Center and KayCee Lindsey, Executive Director of the County Jobs Development Authority.
As a result Just Off Main (Tioga), Beverly’s Cafe (Crosby), and Henny’s (Crosby) were awarded funds from the event.
Just Off Main was awarded $3,600. With the prize money they will make improvements to their private dining/meeting room. This will include the purchase and installation of a screen, projector and sound equipment to be used for community meetings, workshops and birthday parties.
Beverly’s Cafe received $3,400. They plan to purchase and install a new soft serve ice cream machine in their restaurant as well as repair and replace old equipment to help make their kitchen more functional.
Henny’s was gifted $3,000. Plans for this business’ future include an expansion in their food menu to offer healthy lunch options such as homemade soups, sandwiches, fruit and veggie cups. With their winnings, they intend to purchase a new sandwich prep table and glass front refrigerator for their new expanded menu.
"The panel of judges was impressed by all of the presentations and business enhancement ideas from the small business applicants operating in the communities we serve,” said David Grubb, president and judge on the panel. "It's exciting to be able to offer funds that will strengthen our local businesses and we look forward to hosting this event again year after year."
The Bank of Tioga believes that a community’s success is based on the strength of its small businesses which led to the launch of REV in 2017. This annual event is hosted as a portion of The Bank of Tioga’s commitment to its community, which involves reinvesting 10 percent of its net income locally.
Applications for The Bank of Tioga's 2019 REV will open next summer. To learn more about REV, visit thebankoftioga.com/rev.
About The Bank of Tioga:
The Bank of Tioga is a community bank that values citizenship, exceptional client service, serving as a business leader in its community. Committed to supporting local organizations, the bank reinvests 10% of their net income back to the community. The Bank of Tioga was chartered in 1951 and was acquired by TS Contrarian Bancshares Inc., an affiliate of TS Banking Group in 2014, with $348 million in assets. Branch locations Tioga and Crosby, North Dakota. For more information visit thebankoftioga.com.