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Bank of America’s Supplier Diversity Small & Diverse Business Scholarship is designed to provide qualified certified small and diverse business owners or their key employees with financial support to receive training and educational programs they need to improve their business operations and/or competitiveness in their market.

Sponsored by Bank of America and funded through the generosity of Bank of America’s vendors, the Supplier Diversity Small & Diverse Business Scholarship Selection Committee will award scholarships of up to $10,000 each to each awardee.  Management and distribution of fund awards is administered by Communities Foundation of Texas.

Timeline to Apply

  • Monday, June 1, 2020: Online applications become available
  • Friday, August 14, 2020: Online application period closes; no applications accepted after midnight (CST) on this date.
  • Monday, September 14, 2020: Applicants will be notified by this date as to whether or not they are a recipient of a scholarship.

AND
 
  • Tuesday, September 1, 2020: Online applications become available
  • Friday, October 30, 2020: Online application period closes; no applications accepted after midnight (CST) on this date.
  • Monday, November 30, 2020: Applicants will be notified by this date as to whether or not they are a recipient of a scholarship.


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Applicant Eligibility Criteria:

  • Business must be currently certified as either a small or diverse business by a recognized national or state diversity certifying agency, including, but not limited to, the following diversity classifications:
    • Minority Business Enterprise (MBE)
    • Women Business Enterprise (WBE)
    • Disabled Person-Owned
    • US Pan Asian American Chamber of Commerce (USPAAC)
    • Veteran-Owned
    • LGBT-Owned
    • HUBZone (Historically Underutilized Business Zones)
  • Business must have an annual sales of between $300,000 and $50,000,000;
  • Business must employ at least three full-time employees;
  • Business owner must have a minimum of three years of experience developing and running their company;
  • Business owner or key employee must be a first-time attendee for the specific course they are submitting for scholarship support
  • Business owners or key employees are not eligible if there are any unused or outstanding Bank of America’s Supplier Diversity Small & Diverse Business Scholarship payments

Scholarship Award Information

Scholarships award recipients must attend the approved course within 12 months of receiving the award. Recipients may enroll in any desired program within the parameters of the scholarship, regardless of your business certifying agency.

Awards may be used for tuition, books and fees for training any accredited college or university in the United States or its possessions, or any nonprofit organization offering programs, but not limited to) the areas listed below.

  • Mentorship Programs
  • LEED Certifications
  • Advanced Industry Training
  • Six Sigma Certification
  • Capacity Building Programs
  • Technology Training
  • Educational Programs

Additionally, any program submitted for scholarship reimbursement (especially if not a nonprofit organization) must be vetted and approved by CFT before the reimbursement can be made.

Trustees and employees of Communities Foundation of Texas or Bank of America, as well as families or other related parties, scholarship fund advisors, committee members or any other persons related to any person involved in the administration or awarding of the Supplier Diversity Small & Diverse Business Scholarship Selection Committee are not eligible to apply.

 

“The [Small and Diverse Business] scholarship gave me access to some of the brightest minds and greatest thinking in sales strategy and execution. The instructors not only successfully grew their own company exponentially, they drew on decades of experience in helping other companies grow theirs. The brilliant sequencing, content, and delivery of real-world information will mightily contribute to a new laser focus on growth at my company.”
-2017 Scholarship Recipient


Questions about scholarships?

Through the generosity of our donors, Communities Foundation of Texas offers a variety of scholarship opportunities to deserving students across Texas and the U.S. While most are for graduating high school seniors attending institutions of higher education, others enable individuals to pursue vocational training and professional development opportunities.

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