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WHO WE ARE

Suppliers

Building strong relationships is the cornerstone of our success. At JPMorgan Chase, we place particular value in our supplier partnerships. Thanks to the help of a diverse range of suppliers and advisors, we are able to serve our clients, shareholders, communities and employees more efficiently. 

Creating Opportunity by Removing Barriers

JPMorgan Chase has launched a Diverse Supplier Grant Initiative designed to help eliminate common  barriers to business opportunity experienced by historically underrepresented companies..
 

The Challenge

The Challenge

Diverse owned businesses, including Black, Hispanic and Latino small businesses, can sometimes find it cost-prohibitive to meet industry due diligence requirements like cyber security, insurance bonding and other infrastructure costs. Satisfying these requirements can cost a typical small business somewhere between $100,000 and $500,000, creating a very real barrier to entry into the financial services and related industries.

JPMorgan Chase has observed this challenge directly within its supply chain, and indirectly with its partners: otherwise-qualified diverse suppliers are missing opportunities due to the high cost of compliance. It is an industry-wide problem, necessitating an industry-wide solution.

The Solution

The Solution

JPMorgan Chase has established a first-of-its-kind supplier grant program by raising voluntary contributions from our top suppliers and other corporate partners, and matching those contributions dollar for dollar. In turn, the program will disburse funds to certified diverse-owned businesses, including Black, Hispanic, and Latino-owned businesses to be used for key compliance measures.

About the Grant Initiative

About the Grant Initiative

We are matching  donations from our most important supply chain partners as well as other corporations to launch and execute this anticipated multi-year program.

Our pledge:
JPMorgan Chase has increased its funding to the initiative from $5 million to $10 million and will match each corporate donation dollar for dollar.[1]


Recipient eligibility guidelines

This program is open nationally to certified diverse owned businesses, including Black, Hispanic or Latino-owned business, incorporated for at least 3 years with a minimum of $1 million in annual sales and with reasonable growth potential to reach $5 million+ in annual sales within the next few years. They also should have a specific business need such as cybersecurity, insurance, bonding, infrastructure costs or other third-party expenses related to securing new contracts, and successfully fulfilling them.

A pay-it-forward component is built into the initiative whereby businesses that receive funds and successfully secure new contracts are required to return the funds to the original pool to be awarded to the next wave of eligible diverse business. Businesses that do not gain new contracts as a result of the program can request to have the funds forgiven or repay the dollar amount they received at no interest.

Why become a corporate donor?

The program will increase the number of qualified diverse owned businesses, including Black, Hispanic or Latino suppliers prepared to serve corporations across multiple industries. As a corporate donor, you will be able to refer eligible businesses to the growth capital program and encourage them to apply. In addition, corporate contributions are income tax deductible.

Become a donor and join these corporations in the effort to reduce financial barriers to opportunity for diverse businesses.

We are partnering with Local Initiatives Support Corporation (LISC), a  Community Development Financial Institution and certified 501c3 which will administer the program end-to-end.
 

Find out how to become a corporate donor, or receive funding for your business:

Learn More Link to the lisc website