Gorham Savings Bank is accepting applications for its fifth annual LaunchPad business competition, in which promising early-stage ventures in Maine compete for a $50,000 grant from the bank.

The Gorham-based community bank said entrepreneurs, startups and established companies can enter via an online application at gorhamsavingsbank.com/launchpad, and that no formal business proposal or supporting documents are required.

Five finalists will be invited to compete at a live pitch event on June 6 at the University of Southern Maine’s Hannaford Hall in Portland, at which the winner will be announced.

The deadline for applications is 5 p.m. on April 15.