Local St. Louis students receive nonprofit civic organization's annual Louis S. Sachs Scholarship
Online PR News – 17-January-2021 – St. Louis, MO – Progress 64 West, a nonprofit civic organization founded in 1987, recently awarded its Louis S. Sachs Scholarship to two students who created business plans that rise to the challenge while simultaneously meeting local demands. This year the scholarship surpassed more than $100,000 in total monies awarded since its inception in 2006.
First place winner Sri Jaladi, a Parkway West High senior in the Parkway School District, received $5,000 in scholarship funds. Second place winner Olivia Guffey, a Liberty High senior in the Wentzville School District, received a $2,500 scholarship. Winners were selected based on their submitted business plans that included product pitches, fund acquisition and market analysis.
Jaladi took first place for NANO Lending, a social initiative nonprofit he founded in 2018. His plan provides unhoused individuals with entrepreneurial resources by launching business incubators at unhoused shelters; connecting new entrepreneurs with mentorship opportunities with local businesses and experts; and providing forgivable, interest-free loans or funds that cover up to $300 for the cost of start-up equipment and materials.
To date NANO Lending has provided resources to 103 unhoused individuals plus more than 127 people who are currently fighting homelessness. In addition to the loans, Jaladi also shares entrepreneurial advice via workshops held at area shelters where individuals can write and submit business plans for loan qualification. For more information, visit NANO Lending.
Guffey placed second with her business plan for After Dark, Inc., a glow and blacklight run series that provides an outdoor fitness activity for all ages while simultaneously supporting humanitarian efforts. She plans to host her first blacklight run event in the summer of 2021 to benefit a local dog rescue.
Progress 64 West and this year’s Louis S. Sachs Scholarship is presented by Doster, Ullom & Boyle LLC and American Direct Marketing Resources along with contributing sponsor Enterprise Bank & Trust.
Progress 64 West is composed of business owners and executives from small and medium-sized companies. The organization promotes the responsible growth of commerce in the greater St. Louis region with an emphasis given to the I-64 corridor from I-270 westward to I-70. For more information, visit Progress 64 West.