FCB Banks invests $300k into JP’s Emerging Markets Loan Fund

Katie ArnoldJP In The News

From the Illinois Business Journal.

Illinois Business Journal

The Justine PETERSEN organization says FCB Banks in Metro East is the newest investor into JP’s Emerging Markets Loan Fund.

In so doing, FCB joins a growing list of both and local and national investors that includes a range of financial institutions and philanthropic entities. Justine PETERSEN and banks often team on “gap financing” for small businesses, allowing them to borrow more dollars than a bank is able to provide.

The $300,000 investment by FCB Banks will be split 50/50 across the Missouri and Illinois markets, taking the form of small business loans to those businesses not positioned to access mainstream finance.

The Emerging Markets Loan Fund is an equity-building instrument for Justine PETERSEN/Great Rivers Community Capital, birthed by CDFI (community development financial institution) peers Accion New Mexico (now DreamSpring).

The fund assists mission lending on both sides of the Mississippi River.