The Tennessee Valley Federal Credit Union has announced the small business owners moving forward as finalists in each of the credit union’s regional Idea Leap Grant competitions.
As finalists, these 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 Area
- RMJ USA (People’s Choice Winner)
- Cocoa Asante
- Simply Props
- The Local Juicery
- The Professional Cleaning Solution
Cleveland Area
- Biskit NV (People’s Choice Winner)
- Direct Primary Care Associates PLLC
- Rod’s Rockin Rolls
Northwest Georgia Area
- Baxter Dean Studio (People’s Choice Winner)
- Foundation Direct Family Care
- Inflated LLC
The three pitch competitions will occur during the second week in May where each area’s finalists will present their small business expansion plans and win grant funding at the end of the night. In Chattanooga, first place is $30,000, second place is $15,000 and three runners-up will receive $10,000 each. In Cleveland and Northwest Georgia, first place is $25,000, second place is $15,000 and third place is $10,000.
All pitch competitions, and the annual Idea Leap Luncheon in Chattanooga, are open to the public. RSVPs are opening soon, and more information may be found at tvfcu.com/idealeap.
“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.”
This year roughly 300 small businesses applied for the Sixth Annual Leap Grant. TVFCU, leaning on the expertise of local 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. 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. To date, TVFCU has funded more than $5 million in loans to emerging and early-stage businesses through the loan initiative. Furthermore, TVFCU has awarded over $300,000 in Idea Leap Grants and scholarships.