TVFCU is giving away $225,000 in grants to local small businesses in 2024.
The 7th Annual Idea Leap Grant will include competitions in the Chattanooga, Ocoee and Northwest Georgia regions.
See below for information on each regional Idea Leap Grant, contest rules, FAQs and more.
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Chattanooga Area Semifinalists
Business Name | Business Owner(s) |
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Blossom and Rhyme | Rachael Croxall |
Creekside Flower Farm LLC | Morgan Sharpe |
Divine Purity Aurapothecary, LLC | Cassandra Tucker |
Good Sister Studio | Alexa Kuper |
Humanitees Print & Design | Antonio Hickman |
Pizzeria Cortile | Justin Bennett |
Renew Exterior Cleaning Services | Brandon Beavers |
Southern Soul Yoga | Jenna Wright |
Ward's Construction | Donzell Ward |
Ocoee Region Semifinalists
Business Name | Business Owner(s) |
---|---|
Ace Kayaking, LLC | Joseph Gudger |
Bakery on Main | Sophia Lancto |
Birdie & Co, LLC | Kelsey Koukol |
Burnside Insurance Group | Doran Burnside |
Fitted Stitches | Summer Strickland |
Hiit 10 Fitness | Kevin Young |
Ocoee Riverside Farm | John & Donna Warner |
Premier Physical Therapy | Bryan Clary |
The Alderman Group | Rob Alderman |
TNFLYCO | Caleb Luzader |
Treehouse Mountain | Layla Detko |
Northwest Georgia Region Semifinalists
Business Name | Business Owner(s) |
---|---|
A Fern and A Feather General Store | Babs Bell |
Ada's Heritage Farm | Lauren LeFever |
Birria Broz | Eleazar Pacheco JR / Liliana Pacheco |
Broken Horseshoe Vineyard | Charles Carroll |
Caffeine Addicts | Denni Capehart |
Cake Addicts | Alex Washington |
Dalton Brewing Company | Christopher Brown |
Dyers Livestock Beef, LLC | Sarah Dyer |
Insane Paintball, LLC | Jared Powell |
The 706 | Carey Chandler Nesbit |
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Navigating TVFCU's 7th Annual Ideally Grant Application: Proven Tips
For entrepreneurs seeking success in TVFCU's 7th Annual Ideally Grant Application, strategic preparation is key. This post distills essential insights to guide you through the application process effectively.
Preparing for the Application:
Given the application's non-save feature, it's crucial to adopt a strategic approach. Open a Word document, review the questions on TVFCU's website, and carefully craft your responses. This method ensures a polished submission when you transfer your answers into the application.
Key Application Focus Areas:
Two crucial elements demand attention in your application. Firstly, share your compelling entrepreneurial story. Illuminate what inspired you to embark on this journey. Additionally, emphasize your community engagement, showcasing your business's contributions or your personal efforts to give back.
Preparing for the Quarter Finalist Selection:
Anticipating success, prepare for the quarter finalist selection by focusing on two critical aspects:
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Financial Statements: Ensure you have your latest income statement for 2023 or your most recent tax return, providing insight into your business's financial health.
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Video Submission: Quarter finalists are required to submit a five-minute video. Emphasize creativity and informativeness in crafting this video. While it need not be a high-budget production, it should effectively convey your business's essence and impact.
The History and Impact of Idea Leap
Idea Leap Loan
TVFCU started the Idea Leap Loan program in 2016 to fill a void in the community for capital for start-up and early-stage businesses. With Idea Leap loans between $2,500 and $75,000 (originally $50,000), TVFCU has connected nearly 200 unique businesses with funding while many other financial institutions would not engage with loans considered too small or too risky. With referrals and assistance from collaborators such as BrightBridge, CO.LAB, LAUNCH Chattanooga, Score, the TSBDC in Cleveland and Chattanooga, the UGA SBDC, the Urban League of Greater Chattanooga and UTC's Veteran Entrepreneurship Program, the vast majority of Idea Leap Loan recipients have started and expanded successful local businesses. Brianne Hager, owner of B's Sweets, received the first Idea Leap Loan, and she still owns and operates her bakery eight years later.
TVFCU has originated over $5 million in Idea Leap Loans.
Idea Leap Grant
In 2018, after two very succesful years of Idea Leap Loans, TVFCU started the Idea Leap Grant to reinvest proceeds from the loan program back into the local small business ecosystem. In the first Idea Leap Grant, the credit union awarded $52,500 in grants, with the Chattanooga School of Language winning the top prize of $20,000. In 2022, to celebrate the 5th Anniversary of the grant program, TVFCU awarded a $50,000 grant to Be Caffeinated - the largest Idea Leap Grant to-date. In 2023, TVFCU expanded the program once again by hosting seperate Idea Leap Grant competitions in the Chattanooga, Ocoee and Northwest Georgia regions. Next, in 2024, the credit union will award $75,000 in grants in each of the three areas.
44 unique businesses have received Idea Leap Grants. Through grants and scholarships, the program has invested $485,500 in the local entreprenurial ecosystem. In 2024, TVFCU will award an additional $225,000 in grants.