BMO Announces $100,000 Grant Program for Women-Owned Businesses

• Applications open on July 20, 2020 and will close on August 7, 2020
• Grant recipients will be announced in October

TORONTO, July 8, 2020 /CNW/ - As part of its longstanding commitment to helping the advancement of women, BMO Financial Group today announced the details of its new grant program for women-owned businesses, in collaboration with Deloitte.

To celebrate business owners' innovation and resilience during the pandemic and provide additional support, BMO Celebrating Women – a BMO-owned community program – has pledged $100,000 in grants to Canadian entrepreneurs. This new grant program will award ten women-owned businesses with $10,000 to put towards their business.

To assist with the grant recipient selection process, BMO is collaborating with key strategic partners to establish an advisory committee and judging panel consisting of leaders from GroYourBiz, Women Presidents' Organization (WPO), Women Get On Board, Women Business Enterprises Canada, Women Entrepreneurship Knowledge Hub, and Deloitte.

"The new grant program honours the achievements of women-owned businesses and their ability to innovate and persevere during this difficult time," said Erminia (Ernie) Johannson, Group Head, North American Personal and Business Banking, BMO Financial Group. "We are deeply committed to developing programs that support the growth of women-owned businesses and to helping women make real financial progress."

Since its inception in 2012, BMO Celebrating Women has honoured more than 180 women in communities across Canada and the United States. The new BMO Celebrating Women grant program is a part of the bank's commitment to drive the advancement of women and its Purpose commitment to Boldly Grow the Good in business and in life.

"It's essential for the economy and for the future of Canada that brilliant, resilient women entrepreneurs are recognized and elevated. Deloitte is proud to assist BMO with this important initiative," said Linda Blair, Managing Partner, Ontario, Deloitte. "We recognize that these are exceptionally difficult times to sustain and grow a business, and we want to do what we can to help these entrepreneurs thrive."

In addition to the new grant, BMO has developed programs and invested in solutions to support women entrepreneurs, including its commitment to making $3 billion in capital available to women-owned businesses across Canada over three years.

To learn more about the grant program and BMO Celebrating Women, visit bmoforwomen.com and join the social conversation using #BMOforWomen.

About BMO for Women

BMO is committed to supporting initiatives that empower women within its workforce and the communities the bank serves. BMO has partnered with organizations such as the Women Presidents' Organization, GroYourBiz, Women Business Enterprises, and Women Get On Board to provide expertise, leadership, knowledge, and opportunities for women to network and learn. In 2018, BMO announced $3 billion in capital available over three years specifically for Canadian businesses owned by women. Through the only bank-owned recognition program for women in North America – BMO Celebrating Women – BMO celebrates successful women who have given back to their communities or achieved success in business. Since 2012, BMO Celebrating Women has honoured more than 180 women in communities across Canada and the United States.

About BMO Financial Group 

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $987 billion as of April 30, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

About Deloitte

Deloitte provides audit and assurance, consulting, financial advisory, risk advisory, tax, and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and service to address clients' most complex business challenges. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Our global Purpose is making an impact that matters. At Deloitte Canada, that translates into building a better future by accelerating and expanding access to knowledge. We believe we can achieve this Purpose by living our shared values to lead the way, serve with integrity, take care of each other, foster inclusion, and collaborate for measurable impact.

To learn more about how Deloitte's approximately 312,000 professionals, over 12,000 of whom are part of the Canadian firm, please connect with us on LinkedIn, Twitter, Instagram, or Facebook.

SOURCE BMO Financial Group