COLUMBUS, Ohio and REDWOOD CITY, Calif., May 6, 2019 /PRNewswire/ -- Small business owners: How would you take your company to new heights if you had an extra $100,000? Nationwide and BlueVine just unveiled a new small business contest that offers you the opportunity to compete for up to $100,000.
"Pitch to Win" is a national, small business competition that delivers big rewards. Nationwide, #1 in Customer Satisfaction with Small Commercial Insurance,* and small business lending companyBlueVine, are launching the competition as part of National Small Business Week to give small business owners the chance to compete for cash prizes by presenting a unique and compelling business proposal.
Small businesses of all types are encouraged to enter. Business owners can submit their proposals atwww.pitchtowinbig.com. The deadline to enter is June 30. Contest rules can also be found on the "Pitch To Win" site.
"The backbone of our national economy is built on the ingenuity and innovation of small business owners," said Tony Fenton, vice president of underwriting, product & new product development at Nationwide. "Big ideas win in the marketplace, but capital is critical to success. We're excited to see America's best and brightest business owners pitch their ideas to win the capital to help bring their dreams to life."
At the end of the entry period, Nationwide and BlueVine will narrow the list to the small businesses with the best pitches. The finalists will receive an all-expenses-paid trip to Nationwide's headquarters in Columbus, Ohio, where they will present their proposal in person to an executive panel of judges. The finalists will also get to meet and consult with experienced business experts.
The winning proposal will receive $100,000 from Nationwide and BlueVine. The runner up will get $20,000, with third place receiving $10,000. The awards will be non-dilutive, meaning business owners will not be required to give any ownership of their company.
"A 2017 Federal Reserve bank reports that almost half of all U.S. businesses are looking for external capital to scale their company," Fenton said. "The 'Pitch To Win' competition creates a unique and engaging opportunity for small business owners who face this reality every day."
"BlueVine is excited to partner with Nationwide to give business owners an opportunity to supercharge their business growth. Growing a business takes hard work, dedication, and often a fair amount of funding, and we hope the contest can highlight that effort and bring business owners one step closer to their dreams," said BlueVine CEO and Founder Eyal Lifshitz. "For us at BlueVine, the contest marks another important step toward a deeper and more meaningful partnership with Nationwide and our joint mission to help small businesses grow."
Semifinalists will be announced in August on the Nationwide and BlueVine social media platforms. Winners will be announced in October after the "Pitch To Win" event.
About BlueVine BlueVine provides small and medium-sized businesses with fast and simple access to online financing. BlueVine's advanced online platform is intuitive and offers a fast and convenient solution for a business' working capital needs. BlueVine offers a suite of products designed to meet the diverse financial needs of today's business owners. With revolving Line of Credit, business owners can access flexible funds on demand; with Term Loan, business owners can get a lump sum amount to grow their business. With Invoice Factoring, business owners can unlock funds online, from their unpaid invoices. Based in Redwood City, California, BlueVine has provided small and medium-sized businesses with access to nearly $2 billion in financing and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, SVB Capital, Rakuten, Nationwide Insurance, and M12 (Microsoft's Venture Arm). All lines of credit and term loan products are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC.
Certain financing may be made or arranged pursuant to California Financing Law-License No. 6054789. Applications are subject to credit approval. Rates and terms may vary based on your creditworthiness and are subject to change.
About Nationwide Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.