JP Morgan Chase Awards Justine PETERSEN $200k Grant to Advance Minority Businesses
Justine PETERSEN was pleased to recently host Erika Wright, Rich Ryffel and Damion Heron from JP Morgan Chase (JPMC) to discuss JPMC’s support for Justine PETERSEN’s work with small business owners of color “North of Delmar,” both in St. Louis City and St. Louis County. JPMC recently awarded Justine PETERSEN a $200k grant to support technical assistance efforts to minority entrepreneurs.
We know small business owners need capital to start and grow their businesses; African-American and other minority-owned businesses struggle the most to secure this necessary funding. Long focused on providing microloans to entrepreneurs, Justine PETERSEN has continued to see the gap that businesses needing $50,000 – $150,000 in capital face, especially business owners of color. Since 2013, Justine PETERSEN has made more than $19 million in small business financing available to businesses, and 80% of those dollars went to businesses owned by Black or African-American entrepreneurs.
JP is proud to be infusing business capital “North of Delmar,” which the St. Louis Economic Development Corporation indicates “suffers from severe disinvestment with limited benefit from the region’s relative prosperity.”
JP’s Greencubator Hosts Strategic Retreat for SLEHCRA Members and Stakeholders
Justine PETERESEN’s recently opened Greencubator, an incubator for urban agriculture and food related small businesses, provided the setting for a strategic retreat for members of the St. Louis Equal Housing and Community Reinvestment Alliance (SLEHCRA). As a founding member organization of SLEHCRA, Justine PETERSEN joined fellow member community development organizations and community stakeholders to provide input into SLEHCRA’s strategic plan for the upcoming years. SLEHCRA partners with mainstream financial entities to assist them in realizing their community reinvestment vision and goals. This year’s retreat prioritized increasing SLEHCRA’s membership and general awareness. Additionally, educating the public on community benefits agreements and the basic of the Community Reinvestment Act (CRA) were also highlighted. SLEHCRA is excited about the future of a local “CRA culture” where banks take the initiative on drafting community reinvestment plans that both serve the community and banking interests.
Our Next Lunch N Learn is August 19th: Join Artist, Educator Aaron McMullin for a Discussion on the Plight of Cotton Workers
Micro and macro enterprise is related; so is domestic and international microfinance. Join artist, activist and educator Aaron McMullin and learn about her work with cotton farmers in India at our next Lunch N Learn entitled “Who Grew Your Clothes?” We all wear cotton, and chances are some it was grown in India, one of the top three producers of cotton in the world. But how many of us know anything about what it’s like to grow cotton in India?
For the past ten years, Aaron has been engaged in exploring the disconnect between consumers of cotton and Indian cotton farmers. She is committed to finding ways to shrink that gap through art and storytelling. Aaron will share insights form her experience living and working in India in 2012, when she received a Fulbright Language and Research grant. She will also talk with us about her recent exploration of the use of art as a tool to expand this discussion and reach a wider audience. Books, artwork and more will be available to interact with at this talk. Please joint us at the JP office, 1023 N. Grand Blvd. on August 19, 12 -1:00 pm. RSVP today at scollier@justinepetersen.org.
JP Presents 1st Annual Small Business Showcase Block Party Friday, September 27th
Get ready to party! Join JP staff, family, friends and partners for our 1st Annual Small Business Showcase Block Party on September 27, 4 – 8:00 pm behind the JP office at 1023 N. Grand. Several of JP’s small business clients will have their products and services available for sale, and JP food vendor clients will also have their tasty items available for snacking. In addition to small business vendors and food trucks, kids will enjoy a bounce house and other fun activities. Admission is FREE! Please come shop and support JP valued small businesses!