(October 18, 2023) Read the full release on Aramark.
Longtime Aramark partner JPMorgan Chase & Co. has identified a need for greater diversity in the supply chains of many Fortune 1000 companies.
Often, diverse small business owners do not have access to the resources needed to build the systems and increase the capacity to meet the needs of these larger companies.
To help eliminate some common barriers faced by small diverse suppliers, JPMorgan Chase created a Diverse Supplier Grant Initiative—and has invited Aramark and other companies to participate and help secure the growth capital businesses need to effectively compete and secure corporate contracts.
Managed through Local Initiatives Support Corporation (LISC), the JPMorgan Chase Diverse Supplier Grant Initiative is a no-cost, unsecured financing program focusing on diverse-owned businesses with an emphasis on Black-, Hispanic-, and Latino-owned businesses.
“Lowering barriers to corporate-readiness by bridging a common financial gap enables JPMorgan Chase and other participating corporations to develop a larger pool of capable diverse businesses to incorporate into their supply chains.” said Doug Roginson, program director and grant officer for JPMorgan Chase.
“Supplier diversity creates value, opportunity, and economic impact,” said Natily Santos, Vice President of Responsible Sourcing at Aramark. “We are proud to contribute to the JPMorgan Chase Diverse Supplier Grant Initiative to further our supplier diversity goals and strengthen minority businesses.”
As part of its designation as a preferred JPMorgan Chase Gold Supplier, Aramark has pledged to contribute over a five year period to the LISC investment initiative.
Aramark has worked with JPMorgan Chase over the years to support their supplier diversity efforts and goals, including submitting growth plans, mentoring suppliers, providing supplier referrals, and more.
Click here to learn more about Capital for Diverse Supply Chain Businesses.