Waverly, Virginia announces business start-up, and expansion competition
WAVERLY, VIRGINIA (February 21, 2024) — Waverly, Virginia is holding a business plan competition with grant prizes of up to $15,000 for new or expanding businesses located in the Town. Accepted entrepreneurs must participate in a 9-week business planning course offered through Peoples Advantage Federal Credit Union, which will culminate in a “Shark Tank” style juried pitch night to be held May 23, 2024.
The business planning process will help potential and existing business owners identify the strengths and weaknesses of their business concepts and assist them with developing stronger business plans. The 9- week course will be held Wednesday evenings beginning March 20, 2024, at the Jessica A. Moore Foundation at 408 School Street in Waverly. Businesses will need to be located within the central business district that runs along Main Street and County Drive. The funding for the awards, ranging from $500 to $15,000, is provided through a grant from the Virginia Department of Housing and Community Development through their Community Business Launch program.
Successful applicants will provide a product that fills a need in the local economy and have proprietors that exhibit enthusiasm and a willingness to adapt to an ever-changing business climate. The program is geared toward, but not exclusively for, retail businesses or other storefront-type enterprises. The Town is specifically looking for a business that can serve to build the local tourism industry and/or businesses that involve small-scale manufacturing and scale of local products such as hand-made furniture, art, craft beers or spirits, or other items.
About Peoples Advantage Federal Credit Union (PAFCU)
Founded on the principle of people helping people, Peoples Advantage Federal Credit Union believes in the power of the community and aims to empower its members with the financial tools and resources they need to achieve their goals. Located in Petersburg and Richmond, Virginia, the credit union operates on a not-for-profit basis, prioritizing the best interests of its members above all else. As a Community Development Financial Institution, Peoples Advantage Federal Credit Union is member and community focused providing competitive rates, low fees, and personalized financial solutions tailored to individual needs.
