JP Morgan Chase Bank offers Mission Main Street Grants for $100,000 to small businesses that operate within the United States. To apply, businesses create an online profile, receive at least 250 votes from the general public and submit a completed questionnaire. A panel of judges makes the final decision on grant recipients, according to Chase.
Twenty small businesses receive grants each year to execute a business plan or expand business. The first step in the application process is to complete a small business profile on the program website, according to the rules posted by Chase. During the application period, the general public votes on the business via the website or Facebook. To continue onto the judging phase, the business must receive the minimum number of votes.
During the same period, businesses submit grant questionnaires composed of essay questions, notes Chase. Typical requested information includes a description of what makes the business unique, with details on customers, competition and community involvement. Chase also requests performance reports and short- and long-term business goals.
A panel judges applications based on specific criteria, such as whether the business has solid management, a feasible growth plan and positive community impacts, states Chase. The judging panel includes prominent business leaders and representatives from Chase Bank and LinkedIn.