Applications are open for Tennessee Valley Federal Credit Union’s Fifth Annual Idea Leap Grant, but time is running out. Small businesses that apply will compete to win one of five grants totaling $100,000, but they must submit the application by 5 p.m. ET on Friday, June 3.
“The Idea Leap Grant is an incredible opportunity for entrepreneurs in TVFCU’s 13-county service area to take their business to the next level,” said Tommy Nix, vice president of business and commercial services at TVFCU. “Since 2018, we’ve awarded Idea Leap Grants to many iconic local businesses like The Hot Chocolatier, Hutton & Smith Brewing Company, Chatt Taste Food Tour, Locals Only Gifts & Goods and Mad Priest Coffee Roasters. We’re eager to review this year’s applicants!”
TVFCU has awarded nearly $200,000 to dozens of local businesses through Idea Leap Grants as well as $12,500 in Idea Leap scholarships to programs hosted by UTC’s Center for Innovation and Entrepreneurship and Chattanooga’s Urban League.
Businesses in TVFCU’s 13-county service area that have been in operation for at least one year and have fewer than 25 employees are eligible to apply for their chance at winning one of this year’s grants — grand prize: $50,000, first place: $20,000 and three runners-up: $10,000.
An independent panel of judges from across the community will review applications and announce 20 quarterfinalists in early July.
Visit tvfcu.com/IdeaLeapGrant for more information and to apply.