Number 84 September 11, 2020 St. Louis
FCB Banks Invests $400k into JP’s Covid 19 Relief Fund for Illinois Small Businesses
Justine PETERSEN is most grateful to FCB Bank’s recent $400k investment into Justine PETERSEN’s recently birthed Covid 19 Relief Fund for Small Businesses located in central and southern Illinois. The innovative loan fund is structured as a special purpose vehicle (SPV) that allows financial institutions and others to make investments into a fund that would provide deployable capital to central and southern Illinois businesses impacted by Covid 19.
FCB Banks is long standing partner of Justine PETERSEN, and a committed trailblazer as it relates to financial product innovation. We are grateful to Mark Zavaglia, Sandy Stammer, Dave Toby, Jeannine Murphy, Linda Kunz and the entire FCB team.
The capitalized loan fund will deploy small business loans as part of the Illinois Department of Commerce and Economic Opportunity’s (DECO) Covid 19 relief program for small businesses. Justine PETERSEN is the CDFI partnering with DCEO for small businesses located in central and southern Illinois. The maximum loan size is $50,000, amortized over 5 years at a fixed 3%.
Social Policy Institute at Washington University Presents Series Fostering Inclusive Growth in STL
Sheri Flanigan-Vazquez, Chief Operating Officer at Justine PETERSEN, is part of an advisory committee working with the Social Policy Institute at Washington University and the Mastercard Center for Inclusive Growith to design a series of six events fostering inclusive growth in the local economy. The first event, “Building Inclusive Growth in St. Louis,” will explore what inclusive growth is and what opportunities exist to create a more inclusive economy in St. Louis. Local experts will discuss current challenges in the areas of housing and neighborhoods, education and workforce, training and leadership, and financial security. Additionally, a panel of community members will discuss their vision for more equitable inclusion.
This fast-paced event will set the stage for future in-depth exploration and conversations during the rest of the six-part event series. For those wishing to participate in dialogue, we invite you to stay for a 30-minute, topical break-out session beginning at 1:30. Breakout topics include Housing & Neighborhoods, Education & Workforce, Training & Leadership, and Household Financial Security. You may sign up for those during registration as an add-on.
JP’s Effort in Embedding Credit Building with Lending Part of FUND CI Research
Justine PETERSEN’s efforts to integrate credit building with small business and consumer lending contributed to research conducted by FUND CI in partnership with Credit Builders Alliance: “Bending Toward Justice: Credit Scores as a Measure of CDFI Impact.” Justine PETERSEN’s experience and outcomes providing credit builder loans to their own clients and to the clients of over 100 partners in 22 states through Credit Building Nation were included in the research. Tamra Thetford, JP’s Chief Program Officer also served on the advisory board of the research.
Pics for Nik! R.E.D. Shirt Friday: Remembering Everyone Deployed
Nik grew up in the JP office. He’s family. And we miss him.