Number 212 March 3, 2023 St. Louis
JP Awarded $1.297M from U.S. Treasury, CDFI Fund
Justine PETERSEN is a grateful recipient of a $1.297M award from the United States Treasury’s Community Development Financial Institutions Fund (CDFI Fund) to accelerate our work of serving disadvantaged and distressed communities. Of the $1.297M, $500K will specifically be allocated to our Able Loan Products, which are financial assets for those with disabilities. The work of CDFIs, like JP, is to create better access to capital for low-and-moderate income (LMI) households so they can build generational economic prosperity.
In addition to this award supporting our Able Loan Products, funds will also support our work of providing microloans for small businesses, credit building activities, and affordable housing counseling. Headquartered north of Delmar, often referred to as the Delmar Divide, JP’s products and services are concentrated in nearby underserved neighborhoods, while also seeing recent expanded reach to Central Illinois (Champaign-Urbana, Decatur, Peoria, and Springfield) and Southwest Missouri. To learn more about our mission and work, call 314.533.2411.
Learn more about how CDFIs can be an essential channel for entrepreneurs with disabilities by joining Justine PETERSEN’s Galen Gondolfi on a webinar with the National Disability Institute and Small Business Administration.
When: Tuesday March 7, 2023
Where: Virtual | Register Here
Building credit is a core competency of Justine PETERSEN’s. Being able to sit with clients to learn their story, understand their aspirations, and be able to say “yes, we can help” is when our best work happens. That was how Champaign, IL clients Tekeyra and Kenneth Moore were able to restore financial freedom. The Moores came in to meet with Central Illinois Operations Manager, Tristan Brown, explaining their circumstances that included their credit being attached to a significantly high interest rate tradeline, and how Kenneth is confined to a wheelchair from Spina Bifida. With JP’s Able Loan Product, Tristan was able to provide capital for the Moores to refinance out of that tradeline. This has allowed Kenneth to better operate his hobby of trading high valued sports memorabilia. Just as importantly, it’s also lowered their debt-to-income ratio so the family can now qualify for homeownership and mortgage assistance through Champaign County’s Habitat for Humanity. They are hoping this is the catalyst for greater mobility as an event is being held in Kenny’s honor, Kare for Kenny, on April 23rd from 2-6pm at The Venue CU in Champaign; a $25 ticket includes food and entertainment, and the proceeds will go toward the purchase of a handicapped accessible van for the family. Read more here.
March ushers in quite a few reasons to celebrate, especially here at Justine PETERSEN. Throughout the month of Women’s History we’re honoring the hard work and determination of women that so often goes unrecognized. Additionally, we’re emphasizing the importance of credit building during National Credit Education Month. To us it’s not a coincidence these are celebrated within the same month. Credit building and access to financial resources is a critical component of their well being, as well as their family’s. Our Credit Building team that is lead by Tatiana Gillum, and includes LaTrisha Gandy and Barbara Ewing (all pictured here) is here this month and always to provide their counsel. To meet with them, email Tatiana at tgillum@justinepetersen.org.
Mortgage Assistance for Illinois Homeowners
As a HUD certified counseling agency, Justine PETERSEN is here to support. We encourage anyone interested in learning more about mortgage assistance and the application process to contact us by emailing JPHomeTeam@justinepetersen.org. More information can also be found here.
