Number 217 April 7, 2023 St. Louis
Peoples Savings Bank Invests $500K Into JP’s Emerging Markets Fund
Justine PETERSEN is proud to welcome Peoples Savings Bank (PSB) as the latest investor into our Emerging Markets Loan Fund. With a $500,000 commitment, PSB’s participation ensures the availability of deployable small business capital for under-resourced businesses throughout the areas where they have a presence, which includes Lincoln, Montgomery, Pike, and Warren counties, as well as parts of Franklin and Gasconade counties. JP’s Galen Gondolfi said of the investment: “PSB is not only providing deployable capital to Missouri small businesses in need, but structuring their investment with JP as part of our Emerging Markets special purpose vehicle (SPV), so as to build equity on our CDFI balance sheet. We applaud PSB’s visionary support of community development finance and warmly embrace a promising future where Missouri small businesses continue to benefit and thrive through our forward looking partnership.
The Emerging Markets Loan Fund is a SPV investment opportunity for financial institutions, philanthropic foundations and private wealth that ultimately builds equity for Justine PETERSEN’s CDFI (community development financial institution) while providing access to safe and affordable capital to small businesses at various stages of development.
Great Rivers Community Capital Board Director Posthumously Honored
On Friday, April 7th, Judge Richard Torack was honored by Mayor Tishaura Jones and the City of St. Louis by having a courtroom named for him. Judge Torack was a founding Board Member of Justine PETERSEN, and additionally served as the longtime Board Chair of Great Rivers Community Capital. Judge Torack was a practicing attorney and judge for over 35 years, including as the Court Administrator for the City of St. Louis. Judge Newton McCoy (pictured centered, with JP CEO Rob Boyle on the right along with Judge Torack’s three brothers), presided over the dedication and read the Proclamation from Mayor Jones. JP is proud to know that Judge Torack’s many contributions to the community will live on through this dedication.
JP Client, Williams Academy, Hosts First Annual Black Tie Gala + Auction
Thursday, March 30th Justine PETERSEN client, Williams Academy, hosted Mission K.I.T.M.A.S. First Annual Black Tie Gala + Auction at the Angad Arts Hotel in Grand Arts District. Officially opened on October 29, 2022, Williams Academy is a nonprofit S.T.E.A.M institution in North St. Louis, where 90% of students are state subsidized. Last week’s gala raised funds to support their programs, including student scholarships. JP Asset Building Counselor, Franchot Cunningham was in attendance (pictured here with Michael Roberts, Sr.) and said ” the event was spectacular; it was inspiring to see such a turnout for their first fundraiser. Williams Academy is continuing to engage key leaders in the community to ensure the success of their students.” To see Williams Academy’s mission in action, checkout this video.
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.