Small Business Loan Competition
Thank you for your interest in Bad Girl Ventures! Before you complete the application, please take time to review these important items.
Cincinnati Loan Competition:
The Cincinnati loan competition is an optional part of the Launch phase class, and more information on this will be made available as we get closer to the start of the Launch class in Winter 2015.
Cleveland Loan Competition – see information below:
There are two ways you can participate in the BGV program, you can be a Finalist or a Student. As a Finalist, you have to go through a selection process and if you become one of the ten Finalists, your business will be considered for the BGV loan. As a Student, you can register to attend the classes at any time. You will benefit from the same education and networking, the only difference is that your business won’t be considered for the BGV loan.
Competition Rules and Guidelines:
In LAUNCH, you are applying to become one of BGV finalists who will attend the business education course for nine weeks and compete to receive a $25,000.00 low interest loan (6%) for a term of three years. This is not a grant and must be repaid by the close of your three-year term. The selection committee reserves the right to award one business loan up to $25,000 or to award multiple, smaller loans to program participants totalling $25,000. BGV also works closely with community lending partners to secure additional financing for the other finalists in the competition when possible.
In order to be eligible to apply you must meet the following criteria:
- be a women owned business (51% or more)
- be in business 5 years or less
- be seeking financing
- fully complete the online application
Expectations of finalists during the program:
Receiving a position as one of the ten finalists in the competition is an honor. However, there are expectations we set for the finalists to be sure you receive as much from the program as possible. To be eligible to receive the $25,000.00 loan, you/your team must:
- attend an orientation seminar
- attend all nine classes of the course
- complete all deliverables including: weekly homework, a business plan, marketing plan, 3-year financial projections and a SBA loan application
- meet with a mentor once a week for at least one hour outside of class time
Marketing and Media:
By submitting an application, you allow BGV to utilize your name, face and likeness in marketing materials, including but not limited to video, print and multimedia.