Accepted SillyNugg - Grant Application

[SillyNugg]

Firm Name
Omega Financial

Which grant pool are you applying for?
Innovation, Startup, Research and Development (R&D)

How do you plan on using your grant funding?
We aim to begin hiring staff and build a sustainable system to enable a customer base with active loans.

We are developing a system to calculate the risk of customers requesting loans and assess their ability to repay them.

We want to allocate $45,000 to begin working on these loans in our system and help initiate new loans.

5,000 would go towards hiring staff to help develop and maintain these systems.

Ideal Grant Amount 50,000

If awarded, I intend to use the grant money allocated to me for its intended purpose on which it was approved for, and provide a breakdown in my application thread of how the funding was used.
Yes

 

[ElysiaCrynn]

Could you provide a more detailed breakdown of how the $45k grant money would be spent on this loan system?

 

[SillyNugg]

Our loan system utilizes active tracking of player data, including payment frequency, on-time payments, and several other factors. Our goal with the $ 45,000 would be to handle multiple smaller loans of $5-10k to flesh out the system and ensure the system is collecting the data as intended.

 

[Dept. Commerce]

Accepted

Congratulations Omega Finacial, a grant of $15,000 have been disbursed. As you use these funds, please provide evidence and details (i.e. screenshots) on how it is getting used to meet its intended purpose!

 

[SillyNugg]

Transferred to Omega Financial's account, and we have used $10,000 of the funds on our first loan and are using it as a trial for the next 4 months. As our information is sensitive, I find it difficult to disclose the loan data in a public forum. Let me know if I need to disclose this here or if there is a better way to handle that.