The retail mortgage lender has announced it will team with home improvement personality Ty Pennington to launch its "Ultimate Neighborhood Give Back Challenge". The initiative will search for people and organizations leading projects "that make meaningful impacts in their communities". Guaranteed Rate said it would give $100,000 to the best community improvement projects submitted via the contest's Facebook app.
"At Guaranteed Rate, we've always believed in making the communities that we call home better places to live. The Ultimate Neighborhood Give Back Challenge is our way of saying thank you to the thousands of organizations doing amazing work in communities around the country, often in the face of enormous economic challenges," Guaranteed Rate president and CEO Victor Ciardelli said.
The company said entries would be judged on three criteria: impact to the community, a plan in place to execute the idea, and the number of votes received. The grand prize winner, chosen August 1, will receive $50,000 toward their project, plus Ty Pennington's help at their project site for a day. The five remaining finalists will receive $10,000 each.
Guaranteed Rate has announced the launch of a new initiative which will see it give away $100,000 for community improvement projects.