TVFCU is awarding $225,000 to local small businesses in the Chattanooga area through the Idea Leap Grant. This grant is designed to help drive the local economy forward and support small businesses in the community. Winners were recently announced for the grant, with a total of 15 small businesses receiving funding during National Small Business Week.
Organizers of the Idea Leap Grant explained that businesses use the money for various purposes, such as buying new equipment, making new hires, and taking their business to the next level. The grant provides a boost to small businesses, especially during challenging times like the pandemic.
Marcus Cade-Johnson, a representative from TVFCU, highlighted the impact of the grant on local businesses. He emphasized that the money awarded does not come with strings attached, allowing businesses to use it in a way that benefits their local economy. The grant aims to help businesses recover from the effects of Covid-19 and build a new normal for their operations.
The Idea Leap Grant has been running for seven years, with plans to announce the eighth annual grant in the fall. Johnson encouraged businesses to apply for the grant, noting that previous winners have seen success in growing their businesses and contributing to the community. By taking a chance and applying for the grant, businesses have the opportunity to receive funding that can make a significant difference in their operations.