JPMorgan Chase (JPM) is launching a new program to support small businesses, with help from Google.
The bank's Mission Main Street Grants program, announced Tuesday, will award 12 grants worth a total of $3 million to businesses across the U.S., the company said. Google, the chief sponsor of the program, will provide each company awarded a grant with tools to build their social-media operations and with a special advertising offer. Additionally, each company given a grant will be eligible to take part in a Google small-business workshop.
Companies that have been in business for two years or more and have fewer than 100 full-time employees are eligible for the $250,000 grants. Facebook users can vote for the applicants, and the winners will be selected by a 12-member panel drawn from various businesses and national organizations. The application period runs through the end of October, and JPMorgan Chase will announce the winners in the beginning of next year.
"Chase's commitment to small business is a long-term investment through products, services and Mission Main Street Grants, so small businesses can take big steps for their business and community," said Donna Vieira, Chase Business Banking's head of marketing, in the news release.