Five small businesses to receive $20,000 each for growth and community improvement

STAMFORD, Conn.--(BUSINESS WIRE)--Recognizing the big impact small businesses have in their communities, Synchrony Financial (NYSE:SYF) launched its new Working Forward Small Business Awards contest today, which runs through October 20.

The program builds on Synchrony Financial’s commitment to small businesses by awarding five winners $20,000 each – half of the award for use in growing their business and half for bettering their local community.

Synchrony Financial, which partners with thousands of small businesses nationwide to offer financing programs for their customers, finds many companies don’t have access to resources they may need to grow. At the same time, these businesses are frequently asked to support local initiatives and community projects through sponsorships, donations and volunteerism – sometimes at great expense. The award gives winners the unique opportunity to invest in strengthening both their business and their community.

“Small businesses have an important role in serving their customers, employees and community,” said Glenn Marino, executive vice president and CEO, Payment Solutions, Synchrony Financial. “We want to support these businesses in working forward on many fronts to help them stay strong, be relevant and make a difference in their communities.”

The Working Forward Small Business Awards Program contest is open to Synchrony Financial Payment Solutions partner businesses with less than 30 full-time, year-round employees. Eligible merchants can enter online through October 20, 2016, by submitting responses to questions including: what makes their business unique and why customers choose to do business with them; their greatest challenge; the impact $10,000 would have on their business; and how they would use $10,000 to make their community a better place to live, work or play.

Contest information and entry details can be found at www.synchronybusiness.com/awards. Synchrony Financial, its representatives and a panel of judges will determine the winners based on the Judging Criteria outlined in the Contest Official Rules. Winners will be notified in November and announced before the end of the year.

About Synchrony Financial

Synchrony Financial (NYSE: SYF) is one of the nation’s premier consumer financial services companies. Our roots in consumer finance trace back to 1932, and today we are the largest provider of private label credit cards in the United States based on purchase volume and receivables.^* We provide a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers to help generate growth for our partners and offer financial flexibility to our customers. Through our partners’ over 350,000 locations across the United States and Canada, and their websites and mobile applications, we offer our customers a variety of credit products to finance the purchase of goods and services. Synchrony Financial offers private label and co-branded Dual Card^™ credit cards, promotional financing and installment lending, loyalty programs and FDIC-insured savings products through Synchrony Bank. More information can be found at www.synchronyfinancial.com, facebook.com/SynchronyFinancial, www.linkedin.com/company/synchrony-financial and twitter.com/SYFNews.

^*Source: The Nilson Report (May 2016, Issue # 1087) - based on 2015 data.

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