Tennessee Valley Federal Credit Union (TVFCU) is excited to host the Fourth Annual Idea Leap Grant Initiative and award $58k to five local small businesses.
Sponsoring Agency: Tennessee Valley Federal Credit Union (TVFCU)
Type of Fund: Grant
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/04/2021
Size of the Fund: Less than USD $50,000
Tennessee Valley Federal Credit Union (TVFCU) is excited to host the Fourth Annual Idea Leap Grant Initiative and award $58k to five local small businesses.
Tennessee Valley Federal Credit Union (TVFCU) is excited to host the Fourth Annual Idea Leap Grant Initiative and award $58k to five local small businesses.
Grant Information
There will be five (5) Winners: one (1) will receive a U.S. $21,000.00 Grant; one (1) will receive a U.S. $15,000.00 Grant ; (1) will receive a U.S. $10,000.00 Grant, one (1) will receive a U. S. $7,000.00 Grant and one (1) will receive a U. S. $5,000.00 Grant; Winners will be required to meet with a Technical Assistance provider at least once to qualify. Technical Assistance providers are; BrightBridge, The Company Lab, Launch Chattanooga, Tennessee Small Business Development Center (Chattanooga or Cleveland), SCORE, The Urban League and UTC’s Veteran Entrepreneurship Program.
Eligibility Criteria
The 2021 Contest eligible participants are all Small Businesses in operation in the TVFCU 13 County Service area and as further defined below. Eligible participants must continue to meet the following criteria: The Contest is only open to legal residents/business enterprises of the TVFCU’s13-county community who at the time of entry are independent owners/operators of a for-profit small business that is domiciled in TVFCU’s13-county community and which has been in continuous operation selling a product or service for not less than twelve (12) months at the time of application. In order to be considered an eligible "small business" for purposes of this Contest, the business must meet all of the following criteria:
• Entrant/owner must be at least eighteen (18) years of age at the time of submission;
• The business must be currently active, lawful, and have all necessary and required licenses and registrations;
• Entrant/owner must be an authorized agent of the registered business;
• The business must be in good standing with the Tennessee/Georgia Secretary of State or the County Clerk’s office in their home county, as of the date of Submission and must remain so through the end of the Contest;
• The business must have a minimum of 2 (including the owner) and a maximum of 20 employees on its payroll (other employee may be seasonal, part time, 1099, W-2 or a co-owner. Employee for definition of maximum employee is defined as full time equivalent);
• Must meet TVFCU Business Services membership criteria;
• Not in any way be affiliated with a direct seller business;
• Not under bankruptcy protection or have judicial liens or attachments;
• Annual revenue does not exceed one million five hundred thousand dollars ($1.5 million);
• Entrant/owner must not be on the OFAC list, individuals with prior felony convictions may be eligible. The TVFCU Grant Advisory committee or its’ designee will determine the eligibility of any applicant with a felony conviction.
More information at: https://www.tvfcu.com/business/idea-leap/idea-leap-grant.html
