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.
Find out more about and apply to the grant initiative.
“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.
In addition, the LifeWorks Restaurant Group, a premium division of Aramark, creates innovative culinary solutions and amazing guest experiences featuring local diverse entrepreneur partners for JPMorgan Chase employees and guests at 13 locations across the U.S., U.K., and Luxembourg.
Aramark’s Commitment to Supplier Diversity
Aramark has long been committed to creating a world class supply chain that not only provides the best products and services to customers but also reflects the company’s values, including diversity, equity, and inclusion (DEI).
In May, Aramark was named to DiversityInc's 2023 Top 50 Companies for Diversity and Top Companies for Supplier Diversity lists.
By working with a more diverse range of suppliers, Aramark is better able to tap into a broader pool of expertise, ideas, and products that lead to unique solutions for clients and customers and provide competitive advantages.
The company currently has partnerships with thousands of small and diverse suppliers and has set a goal to spend 25% of purchases with small and diverse businesses throughout Aramark’s supply chain by 2025 in the U.S.
