TVFCU Announces 23 Quarterfinalists in $100,000 Idea Leap Grant Competition
July 8, 2022
CHATTANOOGA, Tenn. (July 8, 2022) — Tennessee Valley Federal Credit Union (TVFCU) is excited to announce that 23 quarterfinalists will move forward in the credit union’s Fifth Annual Idea Leap Grant competition. These entrepreneurs, all hoping to earn funds for their emerging small businesses, have a chance of winning one of this year’s grants – grand prize: $50,000, first place: $20,000, and three runners-up: $10,000.
“We received nearly 150 applications from a wide variety of small businesses throughout Southeast Tennessee and North Georgia,” said Tommy Nix, vice president of business and commercial services. “On behalf of the selection committee and the entire credit union, I’d like to congratulate our 23 quarterfinalists on this achievement. I’d also like to express our sincere appreciation to everyone who applied – there were many excellent submissions, so selecting only 23 to advance was a challenge.”
Next, quarterfinalists will submit a five-minute video detailing their business and explaining how they would use the grant funding to improve their business and benefit their community. An independent panel of volunteer judges from local nonprofits and businesses will review the videos, and TVFCU will announce ten semifinalists in August.
From there, TVFCU will publish the semifinalists’ videos and ask for the community’s help in naming one of the top five finalists through the People’s Choice Award voting campaign. Judges will select the other four finalists, and these five business owners will pitch their grant request during TVFCU’s Idea Leap Grant Pitch Night as part of CO.LAB’s startup week in October.
TVFCU’s Idea Leap Grant is an extension of the credit union’s Idea Leap Loan initiative that was created in 2016 to support early-stage small businesses. To date, TVFCU has funded more than $4.2 million in loans to over 175 entrepreneurs through this program. Additionally, TVFCU has awarded nearly $200,000 in Idea Leap Grants to dozens of local businesses since 2018. Some past winners include The Hot Chocolatier, Hutton & Smith Brewing Company, Chatt Taste Food Tours, Locals Only Gifts & Goods and Mad Priest Coffee Roasters.
For more information about the Idea Leap Grant, please visit tvfcu.com/IdeaLeapGrant.
2022 Idea Leap Grant Quarterfinalists |
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Anchor Family Counseling Heather Carver Cleveland, Tenn. |
Adventure Pediatric Dentistry Latasha Garrett Chattanooga, Tenn. |
Adventure Sports Innovation Carolina Molloy Chattanooga, Tenn. |
All About the Bride Jenifer Amato Chattanooga, Tenn. |
Be Caffeinated Christopher Wood Chattanooga, Tenn. |
Bela Co., LLC Bethany Wilson Chattanooga, Tenn. |
Bella Star Designs Lisa Bell Riceville, Tenn. |
Blue Coastal Homes Yesenia Vazquez Cleveland, Tenn. |
Heaven and Ale Southside Joe Winland Chattanooga, Tenn. |
HIIT 10 Fitness Kevin Young Cleveland, Tenn. |
Lisa’s Lily Pad Lisa Bowers Cleveland, Tenn. |
Live and Let Live Barbershop Virgil McGee Chattanooga, Tenn. |
Mountain View Low Vision Services Cheryl Saucier Hixson, Tenn. |
Neutral Ground Chattanooga Kenyatta Ashford Chattanooga, Tenn. |
NewTerra Compost Normand Lavoie Wildwood, Ga. |
Premier Boiler and Combustion Gene Davies Ringgold, Ga. |
RMJ USA Richard Carmack Chattanooga, Tenn. |
Sleepyhead Coffee Christian Harris & Brandon Carruth Chattanooga, Tenn. |
Southern Soul Yoga Jenna Wright Chattanooga, Tenn. |
Sunnyside Cup Melody Kobernik Chattanooga, Tenn. |
TEREN Designs Nick Rader Chattanooga, Tenn. |
Wanderlinger Brewing Co. Chris Dial Chattanooga, Tenn. |
We Clean Chattanooga Romonda Walker-Word Ooltewah, Tenn. |
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About Tennessee Valley Federal Credit Union
Tennessee Valley Federal Credit Union (TVFCU), a not-for-profit financial cooperative, was established in 1936 when 57 Chattanooga TVA employees pooled $500 to create the member-owned credit union. Today, TVFCU serves more than 170,000 members who live, work, worship, volunteer or attend school throughout the 17-county service community. With more than $2.4 billion in assets and 23 branches throughout the area, TVFCU is the largest credit union in the region. In 2021, Forbes named TVFCU Best-In-State Credit Union and awarded TVFCU the highest score of all credit unions in the nation. For more information about TVFCU, please visit tvfcu.com.
About TVFCU’s Idea Leap Grant
The Idea Leap Grant Initiative is an extension of TVFCU’s Idea Leap Loan Initiative that was created in October 2016. The Idea Leap Loan fills a void in the community for loans up to $50,000 to emerging businesses. Through the Idea Leap Grant Initiative, TVFCU has awarded nearly $200,000 in grants to area small businesses.