The JP UP Date: EBA Fund Advances Microlending Nationwide

Katie ArnoldThe JP UP date

Number 147                        December 3, 2021                                   St. Louis

Entrepreneur Backed Assets (EBA) Fund Welcomes $11.5 Million in Funding and $6 Million in Purchase Commitments to Advance Microlending Nationwide

The Aspen Institute and the Microfinance Impact Collaborative recently announced $11.5 million in new funding and $6 million in purchase commitments for the Entrepreneur Backed Assets (EBA) Fund, a first of its kind fund established to strengthen the capacity of community-based financial institutions to lend to small businesses in low-income communities and those owned by people of color. This innovative fund creates a secondary market for loans originated by community-based microlenders, such as Justine PETERSEN. In addition to the new funding commitments, multiple banks committed to purchasing microloans originated by community development financial institutions (CDFIs) from EBA Fund through 2022.

Small Business Legal Clinic Thursday, December 8th. RSVP Today!

Does your small business have unanswered legal questions? Do you want the sage counsel of an attorney free of charge? Then your small business should register for our December 8th Legal Clinic. Brought to you by a concerted effort of Emerson, the Legal Services of Eastern Missouri and Justine PETERSEN, attorneys are available to meet, via a virtual format, with small business owners or would be small business owners to discuss myriad small business issues, ranging from insurance, to copyright concerns to discussing the fine print of leases and contracts.  The 30 minute sessions are pro bono and entirely confidential. RSVP today by contacting Shawna Collier at or 314.533.2411 x 136.

Join Inclusive Growth in St. Louis for Final Interactive Session:  “Activating Inclusive Growth in St. Louis”

After a year of events investigating why economic growth in St. Louis benefits some groups of people more than others and how we can change systems to support more inclusion, it’s time to activate change—together.
Join the Social Policy Institute at Washington University, Mastercard Center for Inclusive Growth, and local advisory committee members virtually for an engaging final event in the Inclusive Growth series. From 12:30 to 3:00 p.m. on Dec. 9, 2021, collaborate with like-minded individuals and take part in building a more inclusive St. Louis.

Confirmed Speakers:
• Jenny Connelly Bowen, executive director, Community Builder Network
• Maureen Brinkley, district director of the St. Louis office, U.S. Small Business Administration
• Ron Daugherty, president and CEO, Daugherty Business Solutions, Access Point
• Clayton Evans, senior vice president and community affairs officer, Simmons Bank
• Stacey Fowler, adult services manager, SLATE
• Jacqueline Hutchinson, executive director, Consumers Council of Missouri
• Adam Layne, treasurer, City of St. Louis
• Crystal Avery-Morris, vice president of community development, Commerce Bank
• Marnee Morgan, CEO and principle consultant, Morgan Graves Consultant LLC
• Maranda Witherspoon Richardson, CEO and principal, MWR Coaching and Consulting
• Bill Rodgers, vice president, Federal Reserve Bank of St. Louis
• Atia Thurman, assistant teaching professor, director of Student Engagement and Support, Washington University

Using Payment Apps for Your Business? This New Regulation Could Impact You.

This policy update was provided by Justine PETERSEN intern Codi Holt.

Starting in January, payment apps such as PayPal, Venmo, Square, and the like will be required to report user’s business transactions to the IRS. The new tax law will require payment apps to report any business transaction (defined by the IRS as a payment for goods or services) of $600 or more.

For this reason, many payment apps are now asking users to provide tax information such as your Employer Identification Number (EIN), Individual Tax ID Number (ITIN), and Social Security Number (SSN). To protect your information, be cautious when receiving these notifications from payment apps, and make sure they are legitimate.

For more information, feel free to visit

Happy Belated 21st Birthday to Isaac Coney!

JP staffer Isaac Coney recently turned the big 2-1!  Isaac began his tenure with JP facilities management as a team member comprised of family members.  The Coney Family have been prudent caretakers of JP’s main office on N. Grand in St. Louis and the Greencubator located on the STL riverfront. Thank YOU Isaac for all that YOU do!  And HAPPY BELATED BIRTHDAY!!