The JP UP date: Wells Fargo $5M Grant

Katie ArnoldThe JP UP date

Number 98                            December 18, 2020                                   St. Louis

Wells Fargo Grants JP $5M to Assist Covid-impacted Black Businesses

Justine PETERSEN is the proud recipient of a $5M grant from Wells Fargo as part of their national Open for Business Fund.  Wells Fargo donated approximately $400 M in Paycheck Protection Program processing fees to support small businesses hardest hit by Covid-19, especially those that are Black-owned or operated by entrepreneurs of color. The Open for Business Fund has an emphasis on working with Community Development Financial Institutions (CDSFIs), and in turn, Justine PETERSEN is deploying nearly $5M in the St. Louis region to businesses in need.  Justine PETERSEN seeks to target existing JP borrowers whose businesses have been negatively impacted by the pandemic and who also endure the burden of higher interest business capital.  The refinancing of existing loan debt is an issue that has been overlooked during much of the Covid-19 small business relief measures.  In addition to refinancing higher interest debt at 3%, the loan fund will also originate new loans for the purpose of pivoting businesses to remain more resilient during and post-Covid.

Maximilianah Zales Joins Justine PETERSEN

At Justine PETERSEN, Maximilianah will coordinate and provide post-closing technical assistance, help create and implement business technical assistance assessments, identify technical assistance providers, and establish and maintain relationships to support referrals.  Welcome aboard Maximilianah!Seasoned small business practioner Maximilianah Zales has joined Justine PETERSEN as Senior Associate, Business Assistance.  Maximilianah brings a wealth of experience and knowledge to Justine PETERSEN, having worked with local small businesses in a consulting and advocacy capacity over the last several years.



JP Featured in Three Broadcast Segments of “The Morning Blend”

Justine PETERSEN is excited to be featured on the local broadcast of “The Morning Blend” this Saturday morning, December 19th at 6:30 am and then again at 7:00 am KPLR CW 11. Hosted by media extraordinaire James Thomas, an overview of JP’s credit building program will be discussed by JP Credit Building Manger Ben Feimer at 6:30 am, followed by a discussion of the causes and potential remedies to the racial equity gap by Galen Gondolfi of JP at 7:00 am.  Next Saturday, December 26th at 7:00 am will feature Shawna Collier of JP discussing the many facets of microlending.  So tune in early with a cup of joe and a pancake or two!  (If you do elect to sleep-in, you can check out the segments on The Morning Blend YouTube Channel and Facebook page later that afternoon).

Pandemic Painting Pic (yet “another” PPP)

Yup. We keep pushing on with new iterations of “PPP!”  This week we debut the “Pandemic Painting Pic” with JP staffer and resident artist Shawna Collier.  Shawna has been painting to get her through the pandemic, and her output has been prolific.  Amazingly gifted, Shawna sells her work as Presh Us Pearl’s Art.  And what a pleasing panoply it is!