Number 86 September 25, 2020 St. Louis
Justine PETERSEN/Great Rivers Community Capital Receives $1.1 M from CDFI Fund
Justine PETERSEN/Great Rivers Community Capital (GRCC) is proud to announce the receipt of over $1.1 M from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund). The Fund made awards nationwide to 397 CDFIs, totaling $204.1 million. The awards will enable CDFIs to increase lending and investment activity in low-income and economically distressed communities across the nation.
Justine PETERSEN/GRCC will deploy the funds to small businesses in need of access to safe and affordable capital throughout JP’s service footprint with an emphasis on Black-owned and low-to-moderate (LMI) owned businesses. More specifically, $240k will be deployed in persistent poverty areas. Additionally, $270k of the funds will be targeted to assist individuals with development disabilities who seek to start or expand a business.
Justine PETERSEN extends congratulations to peer CDFIs across Missouri that also received CDFI Fund awards: AltCap, IFF and St. Louis Community Credit Union.
The counselor recommended a Save2Build Loan. After paying on the Save2Build loan for 3 months, the client received a $3,000 consumer loan to cleanup her credit, paying off all outstanding collection debt. After 12 months of paying the Save2Build loan on time, she had a FICO 4 credit score of 721!
Now isn’t that a happy ending? Actually, it’s only the beginning. CONGRATS TO OUR COMMITED AND SUCCESSFUL SAVE2BUILD CLIENT ON COMMENCING ON HER PATH TO FINANCIAL ASSET-BUILDING!
But, the star of the show is JP’s All-Star-Everything to Everybody Shawna Collier. Earning nominations for “Best CDFI Video Narration” and “Best Oratory Narrative Delivery,” Shawna “killed it,” “knocked it out of the park,” and please insert at your liberty another adage.
View the video here!
CONGRATS SHAWNA, MARIA, MADEYLYN AND TED!
Pandemic Pet Pic (the “other” PPP)
Ok, this pooch pretty much is the best of both worlds: Burnese Mountain dog meets Poodle! JP staffer Ben knows he has it all with his co-pilot Samwise. Multi-talented, Samwise is most proficient as vehicle passenger, pro-sleeper and soulmate.