WASHINGTON, Nov. 10, 2016 /PRNewswire/ -- StreetShares, the lending and investing community for veterans and their supporters and creators of the Veteran Business Bond, recently announced the formation of the StreetShares Foundation. The goal of the StreetShares Foundation is to inspire, educate, and support veteran small business owners. JPMorgan Chase & Co. is partnering with the StreetShares Foundation to provide up to $10,000 each month in Veteran Small Business Awards.
"Veteran business ownership has been the backbone of the United States economy since World War II," said Mark L. Rockefeller, CEO/Co-Founder of StreetShares and an Iraq War Veteran. "The goal of the StreetShares Foundation is to provide a new generation of veteran and military-spouse small business owners the support they need to thrive."
About Veteran Small Business Awards
The StreetShares Foundation plans to give three Veteran Small Business Awards each month to eligible veteran and military-spouse small business owners:
- First Place - $5,000
- Second Place - $3,000
- Third Place - $2,000
Small businesses owned by military veterans, current reserve or active duty members, and qualified military spouses are eligible to apply. Award applications and educational material can be found on the foundation's website at StreetShares.com/Foundation.
Proven Impact
Last year, StreetShares conducted a small award program with only $35,000 donated by StreetShares, Inc. Last year's winners collectively reported increasing revenues by over $1 million, hiring 24 new employees, and scoring a "Shark Tank" TV show appearance. With sponsorship from JPMorgan Chase and others, the StreetShares Foundation has plans to substantially expand the award program.
"Without this award, I can confidently say that we would no longer be in business," said Bridget Platt, Marine Corps spouse and CEO of Daddy's Deployed. "Beyond monetary support, the StreetShares community has welcomed us with open arms, and continues to help us grow in the most amazing ways."
"We're proud to sponsor the StreetShares Foundation and this special project that supports the veteran and military small business community," said Head of Military and Veterans Affairs for JPMorgan Chase Ross Brown.
Public Involvement in Selecting Winners
One unique feature of the new Veteran Small Business Award program is the focus on public participation. StreetShares Foundation encourages everyone who supports veterans and entrepreneurship to participate in voting for their favorite veteran business at StreetShares.com/Foundation. Finalists will be presented for public vote each month.
About StreetShares Foundation
StreetShares Foundation is a 501(c)(3) private foundation affiliated with StreetShares, Inc. The mission of the StreetShares Foundation is to inspire, educate, and support veterans' business ownership in America. StreetShares, Inc. is the lending and investing community for veterans and their supporters, creators of the Veteran Business Bond, and home of the Patriot Express Line of Credit. Both StreetShares Foundation and StreetShares, Inc. are veteran-operated and located outside of Washington, D.C. For more information visit the foundation at StreetShares.com/Foundation.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. JPMorgan Chase aims to position military members, Veterans and their families for success in their post-service lives. To learn more about the company's efforts, visit JPMorganChase.com/Veterans.
CONTACT: Shauna Vo Pulayya, shauna@streetshares.com, 800-560-1435
SOURCE StreetShares, Inc.