Bad Girl Ventures
(BGV) held its fall 2013 graduation ceremony at 5th Street Arcades
last week, awarding loans to two graduating companies and announcing loans and grants from outside organizations.
BGV, in a partnership with KeyBank
, awarded a $25,000 loan to Addisah Sherwood, founder of STEMpowerkids
in Shaker Heights, and a $5,000 loan to Denise Reynolds for Outside the Lines Creative Group
in Euclid. “It was a hard decision,” says BGV Cleveland’s director Reka Barabas. “It’s always a hard decision.”
STEMpowerkids provides mail-order science, technology, engineering and math projects, games and experiments. “Addisah did find a gap in science and math educational activities for the very young child,” says Barabas. “The $25,000 loan will help STEMpowerkids reach the next level by preparing prototypes and by making connections with more people. We’re excited for her to reach the next milestones.”
Outside the Lines Creative Group is a consulting company that creates unique cartoons for businesses and non-profit organizations. The cartoon campaigns deliver messages about benefit programs, wellness, safety, policies and procedures, as well as marketing and promotion.
“Denise has very unique business ideas,” says Barabas. “She’s definitely creating a niche for herself. She can definitely use the loan to beef up her technology.”
Additionally, the City of Cleveland awarded two $1,000 grants each to BGV Spring 2013 graduate Bright Green Gift Store
and fall 2012 grad Chocolate 76
, both currently in the 5th Street Arcades.
The Economic and Community Development Institute
(ECDI) gave $25,000 loans to spring 2012 BGV finalist Harness Cycle
and current finalist Cleveland Tea Revival
“Since BGV only gives one loan per session, we are able to help many of the other finalists that go through the program,” explains ECDI’s Emily Sullivan. These are just two of the most recent finalists we have done loans with -- and we are working with a few others now to help them secure funding as well.”
Source: Reka Barabas, Emily Sullivan
Writer: Karin Connelly