Lowering Financial Barriers to Opportunity With JPMorgan Chase
WWT is a proud partner with JPMorgan Chase and its Diverse Supplier Grant Initiative. The diverse supplier grant initiative program's objective is to provide Black-, Hispanic-, and Latino-owned businesses with access to capital needed to compete and secure corporate contracts.
WWT is partnering with JPMorgan Chase & Co. as part of their Diverse Supplier Grant Initiative to provide diverse owned businesses -- with an emphasis on Black-, Hispanic- and Latino-owned businesses -- with access to growth capital needed to help them more effectively compete and secure corporate contracts from the Fortune 500.
JPMC established the initiative to help reduce financial barriers diverse-owned companies face when seeking opportunities with large corporations. Funds can be utilized for various business and operational costs, including technology, cyber or networking remediation, operational control enhancements such as disaster recovery or business continuity, or insurance and bonding coverage increases, according to JPMC's announcement.
WWT, along with dozens of other corporations, is proud to participate in the program.
Meeting minimum requirements for doing business with large corporations can often be cost-prohibitive for diverse-owned small businesses. This program is being funded by a combination of contributions from JPMC as well as other corporations like ours with an interest in fostering the success of diverse suppliers.
Through this initiative, we aim to lower common financial barriers diverse businesses experience when seeking opportunities with large corporations. Our collective goal is to deliver a multi-year grant program that is agile and scalable to meet the rising demand for emerging minority businesses in corporate supply chains. And through successful execution of this program, we can help increase the qualified and corporate-ready supply base for the industry at large.
JPMorgan Chase, as the sponsor of this initiative, partnered with the Local Initiatives Support Corporation (LISC), a Community Development Financial Institution (CDFI) and certified 501(c)(3), to administer the initiative end-to-end.
WWT believes investing in supplier diversity activities is a critical component of our company's success, and we've developed our Supplier Diversity program to partner with value added diverse organizations that provide our customers with revolutionary products and services around the globe.
For more on WWT's Supplier Diversity program, click here.