JPMorgan's Diverse Supplier Grant Initiative

GRANT AMOUNT (UP TO):

$50,000

DETAILS:

The Diverse Supplier Grant Initiative is a no-cost unsecured financing program targeting diverse owned businesses. The funds enable business owners to cover the costs of meeting the minimum requirements for doing business with large corporations, positioning them to compete for and win more procurement opportunities. This program is open to companies nationwide with a focus on Black and Latinx-owned small businesses located in Chicago, Dallas, Houston, Los Angeles, and New York City.

This program is sponsored by JPMorgan Chase with an initial $5 million commitment that can potentially provide support to approximately 100 small businesses over the next two years.

ELIGIBILITY:

Priority will be given to businesses with:

  • Annual revenues above $5 million and below $10 million

  • Minority-owned businesses that are MBE Certified

  • 10 years or more in business

  • Barriers to pending procurement opportunities

NOTE:

Businesses that receive funds and use them outside of eligible parameters would be required to repay the dollar amount at no interest.

Those that apply the funds to eligible uses, but do not gain new contracts and business growth can request to have the funding forgiven.

Those that receive funds and achieve a measure of success would repay this funding into the original pool for funds to be awarded to the next wave of eligible diverse business.

Ineligible uses: These funds may not be used for fixed assets, payroll, sales and marketing, or debt consolidation.

DEADLINE:

  • Ongoing

Minority-Owned, GeneralCTB Admin