JP UP date: Galen Gondolfi Talks CDFI's

Number 326 May 16, 2025 St. Louis

A Story from St. Louis: Maria’s Bakery

Every morning, Maria unlocks the doors to her neighborhood bakery on the North Side of St. Louis—a business that nearly didn’t exist. Years ago, when no traditional lender was willing to take a chance on her, Maria turned to Justine PETERSEN, a trusted name among small business owners known for helping dreams take root, especially when others said no.

Thanks to the support from the CDFI Fund (Community Development Financial Institutions Fund), Justine PETERSEN was able to provide Maria with her first small business loan. That funding wasn’t just money; it included mentorship, technical assistance, and, most importantly, belief in her potential.

However, the same lifeline that helped Maria and hundreds like her is now under threat. Remember, this is just a story, but it reflects what we are facing.

Great Rivers Community Capital Board President talks with the St. Louis Business Journal

Dilip Vishwanat | SLBJ

The Trump administration has proposed reducing the CDFI Fund in its latest budget cuts. This fund has long been a catalyst for economic development in low-income and underserved communities by providing critical financial support to nonprofit lenders like Justine PETERSEN and its affiliate, Great Rivers Community Capital.

“Without the CDFI Fund assistance providing the requisite equity to leverage private investment for deployable capital to small businesses, Justine PETERSEN and Great Rivers Community Capital would face formidable, if not dire, circumstances,” said Galen Gondolfi, President of the Great Rivers Board of Directors and a long-time Justine PETERSEN employee.

The proposed cuts would not just affect institutions—they would directly impact the clients they serve: entrepreneurs of color, women-owned businesses, rural startups, and immigrant-led ventures across the St. Louis region and beyond.

To read more, go to www.justinepetersen.org to read the full article by James Drew – Reporter, St. Louis Business Journal.

MaryFlor Mexican Restaurant Expands with Support from Justine PETERSEN

MaryFlor Mexican Restaurant is renowned for its authentic dishes, made from fresh ingredients. Over the years, it has become a beloved destination for locals looking for a warm and welcoming dining experience. Whether it’s a quick lunch, a family dinner, or a special event, MaryFlor serves as more than just a restaurant; it is a true community hub.

Photos courtesy of Facebook

As the restaurant’s popularity grew, so did the challenges of operating from a single location. With lines often stretching out the door and an increasing demand for catering and takeout services, the owners, Flora and Marcos Gomez, recognized it was time to expand. However, expansion requires capital, planning, and strategic guidance.

This is where Justine PETERSEN came in.

Through a partnership with Justine PETERSEN, MaryFlor secured the vital funding necessary to open a second location. The support went beyond just financing; the team at Justine PETERSEN provided technical assistance, helping the owners refine their business plan, understand financial projections, and structure their operations for sustainable growth.

“Justine PETERSEN believed in us,” said Flora. “They didn’t just give us a loan—they provided the confidence and tools we needed to turn our vision into reality.”

The new MaryFlor location has enabled the restaurant to serve more customers, reduce wait times, expand catering services, and hire additional staff from the local community. It’s not just about having a bigger space; it’s about making a greater impact.

Today, MaryFlor continues to thrive, with both locations operating at full capacity. Whether dining in, placing a takeout order, or arranging a catered event, every bite still conveys the love, tradition, and authenticity that made MaryFlor a household name.

Justine PETERSEN takes pride in being part of this success story, which exemplifies the power of community-driven business and the resilience of entrepreneurs dedicated to serving, growing, and thriving.

Ready to turn your business dream into reality? Justine PETERSEN is here to help.

Sheri Flanigan-Vazquez Takes the Stage at Voices of Change Conference

Championing innovation and equity in financial health at this year’s Emerge gathering.

We’re thrilled to share that Sheri Flanigan-Vazquez, Chief Operating Officer at Justine PETERSEN, has been selected as a featured speaker at EMERGE Financial Health 2025’s Voices of Change Conference, taking place June 3–5, 2025 in San Diego, CA.

Hosted by the Financial Health Network, EMERGE is the premier national event for leaders who are shaping the future of financial health and inclusion. Sheri will join a dynamic lineup of changemakers across the country to share insights rooted in community-based impact and equity.

“I’m excited to share that I’ll be speaking at #EMERGE2025, the premier conference on #FinancialHealth, hosted by @FinancialHealthNetwork in San Diego on June 3-5! We’ll immerse attendees in the stories of real people across America—those facing challenges and those working to solve them. Together, we’ll explore what it will take to achieve financial health for all. I’m honored to be part of this important conversation and hope to connect with you there!”
— Sheri Flanigan-Vazquez

Meet hundreds of senior decision-makers from financial institutions, fintechs, employers, policy, and research who are all working to move the financial health movement forward.

🎟️ Tickets are still available: https://finhealthnetwork.org/emerge2025

Let’s celebrate Sheri’s powerful voice and continued leadership—and make plans to join her in San Diego for an unforgettable experience.

Last Call! WEPOWER All Industry & Construction Accelerators NOW OPEN

WEPOWER is now accepting applications for our All Industry and Construction Accelerators!

Both applications are open and will close on May 18, 2025.

These 12-week programs are designed to help entrepreneurs grow their businesses, access capital, and create living-wage jobs that strengthen our communities.

Through personalized coaching, a proven curriculum, and the right connections, our accelerators support business owners ready to scale with impact. Whether you’re in construction or another industry, this is your moment to accelerate differently—and build something bigger than business as usual.

As a part of this community, you will have access to:

• Expert workshops + personalized business coaching

• In-kind professional services

• Exclusive access to capital

• A network of connections for support and guidance

If you’re ready to grow and lead boldly, we want you in the room.

Please help us spread the word by sharing this opportunity with your networks. Your support is essential to helping us reach dynamic entrepreneurs ready to build thriving businesses and stronger communities.

Let’s build together.