FinTastic Funding

Apple Federal Credit Union is offering a funding opportunity called FinTastic Funding, a Shark Tank-style pitch competition designed to support small businesses within its service area. The credit union, which provides a range of personal banking, commercial banking, investment, and insurance services, is aiming to foster entrepreneurship and community impact through this initiative. The competition invites small businesses with a compelling story, a sound business plan, and a passion for making a difference in their communities to apply for a chance to win a portion of the $50,000 prize pool. The purpose of FinTastic Funding is to help small businesses scale up and make a greater impact on their communities, particularly within Northern Virginia. Applicants are required to submit a short application along with a 90-second pitch video that highlights their business vision, innovation, and potential for community impact. Finalists will be selected by a panel of judges and will then participate in a public voting round conducted via social media. This public engagement aspect is intended to amplify community involvement and awareness of local businesses. The funding scope includes three awards: a grand prize of $25,000, a second prize of $15,000, and a third prize of $10,000. These funds will be deposited into an Apple FCU business account. For non-members who win, Apple FCU will assist them in setting up the required account. Awarded funds are intended to be used for business growth and community impact, though specific restrictions or limitations on spending were not detailed in the source. Eligibility for this opportunity is limited to small businesses that meet the following criteria: they must have been established prior to January 1, 2023; must employ fewer than 100 employees; and must have annual revenue of less than $5 million. Additionally, businesses should have a demonstrable positive impact on the Northern Virginia community. The application process requires submission of a business plan detailing business information, market analysis, and financial projections, as well as the 90-second video pitch. There is no mention of a pre-application deadline or Q&A opportunities in the source. Evaluation criteria for the competition include the clarity and feasibility of the business plan, financial sustainability, innovation and growth potential, team expertise and passion, and the business’s potential positive impact on the community. The timeline for the competition is as follows: applications open on May 1, 2025, and close at 11:59:59 p.m. on July 1, 2025. Finalists will be announced on August 15, 2025, and public voting will run until September 2, 2025. Winners will be revealed during the week of September 15, 2025, with prize funds awarded by September 30, 2025. For more information about FinTastic Funding, applicants and interested parties are encouraged to email FinTasticFunding@AppleFCU.org. The competition is promoted by Apple FCU Commercial Services, which supports local business owners through various financial products and services. Detailed official rules are referenced but not provided in the source text.

It is crucial to submit a complete application by the deadline of July 1, 2025, at 11:59:59 p.m. The application should highlight the business's story, community impact, and potential for growth.