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Grow Gentilly’ small business competition deadline set for July 31

23rd July 2012   ·   0 Comments

Capital One Bank, in partnership with the Urban League of Greater New Orleans, recently announced the second annual “Grow Gentilly” small business growth plan competition to help small businesses in the Gentilly area of New Orleans grow and create jobs.

The winner of the Grow Gentilly competition will receive a cash award of $10,000. The contestants who finish second and third will receive $7,000 and $3,000, respectively. The top three also will receive technical and professional assistance to enhance their businesses.

To be eligible for the Grow Gentilly competition, businesses and their owners must meet the following key criteria:
• Business revenues in the most recent fiscal year must have been $1 million or less.
• The applicant must have owned the business since before August 31.
• The business must reside in zip code 70122.
• The applicant/owner must demonstrate the potential or desire to grow and create jobs in the Gentilly community.

The competition is divided into two rounds. In the first, applicants will complete and submit an online form to provide a comprehensive overview of their business, including its mission and vision, products and services offered, management plan, marketing strategy and other key information. Each of the applicants then will be assigned a Capital One business banker who will provide insight and help the applicant fine-tune the application. The applicants will then be expected to re-submit their applications after the one-on-on business banker consultation by Aug. 31. Six finalists then will be announced on September 15 and will compete in the second and final round on October 15, during which each contender will make an eight- to 10-minute business presentation in front of a panel of community and business leaders. The cash awards will go to the owners of the three businesses whose plans are judged by the panel to be the most creative, innovative and likely to succeed and create jobs in the Gentilly area.

The deadline to submit the first-round online application is 5 p.m., July 31, 2012. Applications will be accepted at www.cyber­grants.com/capitalone/growgentilly. The site provides detailed information about the competition, eligibility guidelines and a pre-screening checklist. The re­vised applications must be submitted no later than August 31.

This article originally published in the July 23, 2012 print edition of The Louisiana Weekly newspaper.

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