TVFCU Announces 10 Semifinalists in $100,000 Idea Leap Grant Competition
September 5, 2022
Tennessee Valley Federal Credit Union (TVFCU) announced today that 10 entrepreneurs are moving forward as semifinalists in the fifth annual Idea Leap Grant competition. These small business owners all aim to win one of five grants – grand prize: $50,000, first place: $20,000, and three runners-up: $10,000.
“We congratulate our 10 semifinalists and, once again, thank every small business owner who applied for the Idea Leap Grant competition,” said Tommy Nix, vice president of business and commercial services. “Small businesses are crucial to our local and nationwide economies, so it’s inspiring to see so many entrepreneurs in the communities we serve.”
This year’s semifinalists, representing industries such as food service, janitorial, medical, clothing and more, are:
- Be Caffeinated
- Bela Co., LLC
- Bella Star Designs
- HIIT 10 Fitness
- Mountain View Low Vision Services
- Neutral Ground Chattanooga
- NewTerra Compost
- Sleepyhead Coffee
- TEREN Designs
- We Clean Chattanooga
TVFCU initially received nearly 150 Idea Leap Grant applications before an independent panel of volunteer judges selected 23 quarterfinalists from this group. These 23 entrepreneurs were asked to submit 5-minute videos detailing their business, their intentions for the grant funding and how they support their community. The judges reduced this field to 10 semifinalists after reviewing the videos and conducting site visits.
Now, the credit union is requesting the community’s help to identify the People’s Choice Finalist. Visit tvfcu.com/vote to learn more about each semifinalist and for instructions on voting via text message.
The semifinalist with the most votes at 5 p.m. EST on Friday, Sept. 9, will be named the People’s Choice Finalist. The judging committee will also select four other finalists to compete in the Idea Leap Grant Pitch Competition on Oct. 18.
For more information about the Idea Leap Grant, please visit https://www.tvfcu.com/business/idea-leap/idea-leap-grant.html. Follow TVFCU on Facebook, Twitter, Instagram and LinkedIn for continual Idea Leap updates.
Fifth Annual Idea Leap Grant Semifinalist Facts
Be Caffeinated
Location: Chattanooga, Tenn.
Owners: Christopher Wood & Douglas Lee
Established: 2019
Grant Wishes: Purchasing new equipment to add New York-style bagels to their bakery lineup
Bela Co., LLC
Location: Chattanooga, Tenn.
Owner: Bethany Wilson
Established: 2015
Grant Wishes: Hiring a digital media specialist to create a stronger online presence, expand online jewelry sales and promote resident artists on a national level
Bella Star Designs
Location: Athens, Tenn.
Owner: Lisa Bell
Established: 2010
Grant Wishes: Implementing much-needed equipment repairs and/or replacements, improved online presence and other studio upgrades so artists can have an enhanced experience and create their own product lines
HIIT 10 Fitness
Location: Cleveland, Tenn.
Owner: Kevin Young
Established: 2018
Grant Wishes: Updating existing software and equipment for the daily workout programs offered. Would also like to use funds toward opening a second location in Chattanooga
Mountain View Low Vision Services
Location: Hixson, Tenn.
Owner: Cheryl Saucier
Established: 2018
Grant Wishes: Purchasing devices that she could leave with potential referrers to showcase products. Would also create a video training library for gatekeepers, occupational therapists, families and VIPs (visually impaired individuals)
Neutral Ground Chattanooga
Location: Chattanooga, Tenn.
Owner: Kenyatta Ashford
Established: 2020
Grant Wishes: Purchasing two professional combination ovens that increase efficiency in the kitchen
NewTerra Compost
Location: Wildwood, Ga.
Owners: Normand Lavoie & Michael Ryan
Established: 2020
Grant Wishes: Constructing a building for office space that would provide a resting place from outdoor manual labor, enhance NewTerra’s productivity and work environment and offer indoor plumbing. Will also put finished product indoors so it’s available without being weather-dependent and will be able to mix compost into soil blends
Sleepyhead Coffee
Location: Chattanooga, Tenn.
Owners: Christian Harris & Brandon Carruth
Established: 2018
Grant Wishes: Opening an improved, larger bakery space for vegan and gluten-free pastries
TEREN Designs
Location: Chattanooga, Tenn.
Owner: Nick Rader
Established: 2018
Grant Wishes: Wants to use the funds to have products manufactured in the U.S. which would increase production and create local jobs
We Clean Chattanooga
Location: Ooltewah, Tenn.
Owner: Romonda Walker-Word
Established: 2018
Grant Wishes: Providing more training for staff, purchasing commercial cleaning equipment to accommodate larger companies and purchasing a van to help employees with transportation to each job site
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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 Southeast Tennessee. In 2021, Forbes named TVFCU Best-In-State Credit Union. For more information about TVFCU, please visit tvfcu.com.