West Newsmagazine 12-16-20

30 I SCHOOLS I
December 16, 2020
WEST NEWSMAGAZINE
Local student entrepreneur rewarded with
Progress 64 West scholarship
@WESTNEWSMAG
WESTNEWSMAGAZINE.COM
By JESSICA MESZAROS
While the COVID-19 pandemic has
posed unique challenges to both students
and entrepreneurs, Progress 64 West
recently awarded its Louis S. Sachs Scholarship
to two local students with business
plans that rise to the challenge while meeting
local demands.
This year, Sri Jaladi from Parkway
West High in the Parkway School District
is the first-place winner, and will receive
$5,000 in scholarship funds. Olivia
Guffey from Liberty High in the Wentzville
School District placed second and
will receive a $2,500 scholarship. The
winners were chosen based off of submitted
business plans that included elements
such as product pitches, fund acquisition
and market analysis.
Jaladi took first place with his plan for
NANO Lending, a social initiative and registered
501(c)(3) he founded in 2018. The
plan provides unhoused individual 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 loan or fund that covers the
cost of start-up equipment and materials
up to $300.
“Entrepreneurship is so great because
even with small equipment, whether it’s
a power washer or a sewing machine or
a merchandise or clothing or equipment
of any sort, you’re able to really generate
an entire business that can really get you
Mon. - 05/06/2019 - 6:52:18 AM 3139034952
a sustainable income source,” Jaladi said.
So far, NANO Lending has provided
resources to 103 unhoused individuals and
another 127-plus people who are currently
fighting homelessness. In addition to loans,
Jaladi also shares entrepreneurial advice
via workshops held at area shelters where
individuals can write and submit business
plans for loan qualification.
“There are no terms or conditions
attached, and if someone does become
successful and they do want to repay, it
is asked that instead of paying it back to
NANO Lending, they pay it forward to
someone else in the community,” Jaladi
said.
While he has yet to decide on a college or
major, Jaladi said he plans to grow NANO
via additional hubs and added online offerings.
“How I sort of phrase it now is that St.
Louis is a hub for NANO, and wherever
I go, I’d like first to develop another hub
for NANO,” Jaladi said. “Also, what I’m
doing now is I’m taking the workshops
that I’m doing in these shelters and putting
them into an online video format, so it’s
Louis S. Sachs winner Sri Jaladi from Parkway
West was awarded the first place $5,000
scholarship.
(Photo provided by winner)
not necessarily restricted to where I may be
or where the individuals who are helping
me may be. So, (people) around the nation,
even internationally, can utilize it.”
More information can be found at nanolending.org.
Meanwhile, Guffey placed second with
her business plan for After Dark, Inc., a
glow and blacklight run series that pro-
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