HOUSTON, May 22, 2015 /PRNewswire/ -- Nearly 120 small business owners and entrepreneurs across the U.S. are vying for a chance to win the BBVA Compass Great Ideas for Small Business contest.

The competition, which kicked off earlier this month on social media networks, is designed to reward ingenuity and provide a platform for entrepreneurs to promote their business ideas, with the grand prize idea winning $15,000 and the runner-up getting $5,000. It is part of the bank's sustained effort to put a spotlight on small business owners and give them the resources they need to manage and grow their companies.

"Small businesses make up the majority of the businesses in this country and are the lifeblood of our economy," said Lonnie Hayes, small business banking executive director at BBVA Compass. "We are excited to have an opportunity through this contest to help two of them flourish."

There were 117 business ideas submitted via Twitter, Instagram or the contest website from business owners and entrepreneurs across the bank's footprint, including in Birmingham, Ala.; Dallas; Phoenix; Jacksonville Beach, Fla.; Westminster, Colo.; Santa Clara, Calif.; Corrales, N.M.; and others. Contest entries spanned several industries, including restaurants, technology, finance, beauty and more.

Winners will be determined based on a combination of social media community votes and scores given by a panel of judges from BBVA Compass. Voting ends on May 31.

The Great Ideas for Small Business contest continues the bank's ongoing efforts to fuel small business growth. The bank is hosting Great Ideas for Small Business Social Series events in several markets through October to offer networking and learning opportunities to small business owners.

Click here for more information about the competition and to see a list of all of the participants.

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 the 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 672 branches, including 341 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. 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 earned the top ranking with customers in American Banker's 2014 annual reputation survey of the top 25 largest U.S. retail banks. It also has been recognized as one of the leading small business lenders by the Small Business Administration, and its mobile app recently earned the Mobile Banking Leader in Functionality Award for the second consecutive year from Javelin Strategy & Research. Additional information about BBVA Compass can be found at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com. 

Editor's Note:
BBVA Compass is a trade name of Compass Bank.

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SOURCE BBVA Compass