CHATTANOOGA, Tenn.– The Tennessee Valley FCU has announced the small business owners that are moving forward as finalists in each of the its regional “Idea Leap Grant” competitions.
The $2.6-billion TVFCU said the finalist entrepreneurs will each participate in their regional pitch competition as they strive to win a grant to support and expand their small business.
The finalists are:
Chattanooga Region
- Creekside Flower Farm LLC (People’s Choice Winner)
- Divine Purity Aurapothecary, LLC
- Humanitees Print & Design
- Renew Exterior Services
- Southern Soul Yoga
Ocoee Region
- Ace Kayaking School (People’s Choice Winner)
- Bakery on Main
- Burnside Insurance Group
- Ocoee Riverside Farm
- Treehouse Mountain
Northwest Georgia Region
- Cake Addicts (People’s Choice Winner)
- Caffeine Addicts
- Dalton Brewing Company
- Dyer Livestock Beef, LLC
- Insane Paintball, LLC
Pitches Set for Last Week of April
The three pitch competitions will occur during the last week in April where each area’s finalists will present their small business expansion plans and win grant funding at the end of the night, according to TVFCU. In each of the three competitions, first place is $30,000, second place is $15,000 and three runners-up will receive $10,000 each.
“We’re very proud of these local small business owners who have advanced to the Idea Leap Grant finals,” said Tommy Nix, vice president of business and commercial services. “We’d like to invite people from across Southeast Tennessee and Northwest Georgia to come out and watch these incredible entrepreneurs discuss their small businesses, their plans for the future and the many ways in which they support their local communities.”
More Than 300 Applications
According to the credit union, this year more than 300 local businesses applied for the Seventh Annual Idea Leap Grant. TVFCU, leaning on the expertise of area business leaders serving as volunteer judges, reduced this group to quarterfinalists who each submitted videos showcasing their business.
“Based on the video submissions, semifinalists were selected in each competition and were asked to provide the judges with a tour of their business,” Tennessee Valley FCU explained. “After these site visits, TVFCU hosted a voting period open to the public that selected one People’s Choice Finalist by popular vote in each region. The other finalists were selected by each regional panel of judges.
The Idea Leap Grant is an extension of the credit union’s Idea Leap Loan Initiative that was created specifically for small businesses in 2016.”
More Than $5 Million in Loans
To date, TVFCU reported it has funded more than $5 million in loans to emerging and early-stage businesses through the loan initiative. In addition, TVFCU has awarded over $485,000 in Idea Leap Grants and scholarships.
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