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SOURCE BBVA Compass
- Finalists compete for one of two $10,000 prizes to help fuel business creation and expansion
- Competition helps small businesses tap into Facebook's growing popularity as an online resource for consumers
- Fueling small business ingenuity
BIRMINGHAM, Ala., Jan. 10, 2014 /PRNewswire/ -- BBVA Compass today announced the finalists in its Great Ideas for Small Business contest on Facebook, putting two $10,000 prizes within reach for five entrepreneurs.
Launched in October via an app on BBVA Compass' Facebook page, the contest provides a platform for qualifying small business owners and entrepreneurs to promote their ideas for a chance to win one of two $10,000 prizes to fuel business growth. Forty-six ideas were submitted and narrowed to five based on a tally of Facebook votes and scores by a panel of BBVA Compass judges.
The two prizes will be awarded following the final round of voting that ends January 15.
"Small businesses make up the majority of employers in the U.S. and are critical to sustaining our local economies," said Lonnie Hayes, small business segment director for BBVA Compass. "These five finalists represent the creativity and diversity that exist in small businesses throughout our communities. We're honored to help two contestants grow their businesses or move their innovative ideas forward."
The finalists and their Great Ideas:
Trevor Abbot, Gainesville, Fla. Spin Chill (Beerouette): A portable device that, according to Abbot, can chill a can of beer or soda 20 times faster than when it's sitting stationary in a cooler.
Ed Adkins, Truth or Consequences, N.M The Centipede Sawhorse: Invented by Adkins for job sites and home improvement projects, the portable table base, which he says sets up in 3 seconds, supports sheet lumber and table tops.
Jerry Gilbert, Lake Havasu City, Ariz. Pool Water Purification: A portable mechanical unit that allows pool owners to conserve swimming pool water by removing impurities on-site, returning the cleaned water back to the pool.
Melanie Rainwater, Birmingham, Ala. Nutripilot: A web and mobile app tool that helps consumers navigate healthier food choices based on individual nutritional needs.
Carmen Wooten, Birmingham, Ala. The Green Bottle Candle Company: The company partners with local restaurants to repurpose used wine bottles, using the bottles to create small batch natural soy candles.
Of the two $10,000 prizes the bank will award, one will go to the business idea receiving the most votes on Facebook, and a second to support an idea scored by a panel of BBVA Compass judges, pursuant to the official rules.
The Great Ideas for Small Business contest is part of BBVA Compass' ongoing efforts to meet the specific needs of micro-business owners, who often work solo and typically generate less than $500,000 in annual revenue.
The bank introduced its Business Mobility Bundle last year, providing micro-business owners - who represent 95 percent of all small businesses - everything needed to manage their finances on the go.
About BBVA Group BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, is the largest financial institution in Mexico and has leading franchises in South America and the Sunbelt region of the United States. Its diversified business is geared toward high-growth markets and relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at www.bbva.com.
About BBVA Compass BBVA Compass is a Sunbelt-based financial institution that operates 687 branches, including 351 in Texas, 90 in Alabama, 78 in Arizona, 64 in California, 45 in Florida, 38 in Colorado and 21 in New Mexico. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass has been recognized as one of the leading small business lenders by the Small Business Administration and was recently awarded the 2013 Celent Model Bank Award for its new core banking platform. Additional information about BBVA Compass can be found at www.bbvacompass.com.
Editor's Note: BBVA Compass is a trade name of Compass Bank, member FDIC.