Idea Leap Loans
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. The Idea Leap Loan program has provided loans ranging from $2,500 to $75,000 (originally $50,000) to over 200 unique businesses, offering funding when many other financial institutions deemed these amounts too small or too risky to consider.
With referrals and assistance from collaborators such as BrightBridge, CO.LAB, LAUNCH Chattanooga, SCORE Chattanooga, 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.
To date, TVFCU has originated more than $5 million in Idea Leap Loans.
Have a question you about the Idea Leap Loan program? Please email additional questions to [email protected].
- BrightBridge
- CO.LAB — The Company Lab
- LAUNCHChattanooga
- SCORE
- Tennessee Small Business Development Center - Chattanooga
- Tennessee Small Business Development Center - Cleveland
- University of Georgia Small Business Development Center - Rome
- Urban League of Greater Chattanooga- NextLevel
- UTC - Urban Vision Initiative
- UTC - Veteran Entrepreneurship Program
Access to the Idea Leap program is only available through a referral. Borrowers are required to be referred by one of the collaborators listed above, and are required to continue to receive assistance from one of the collaborators during the life of the loan.
- Flexible and non-traditional underwriting criteria will be used to evaluate and approve loans.
- Non-traditional collateral, such as patents, trademarks, copyrights, intellectual property, and more, will be considered.
- Funding available for early-stage businesses ranging from $2,500 to $75,000.
Have a question about the Idea Leap Loan program? Please email additional questions to [email protected].