Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

JPMorgan adds $2.5 million to Ascend 2020 program



ImpactAlpha, April 10 – The bank launched Ascend 2020 with $500,000 in 2016 to kick-start investing in women- and minority-owned businesses. The first phase of the program has been implemented in six US cities and will now be expanded to 10 cities over the next three years. Ascend 2020 is a part of JPMorgan Chase’s $150 million grant-funded Small Business Forward program, which is itself part of the bank’s plans to commit $20 billion to small business lending and community investing over the next five years.

  • Program participants include Uli’s Famous Sausage, an immigrant-owned business in Seattle, which secured a credit-union loan based on an improved business plan; and Miss Marjorie’s Plantain Chips, owned by Jamaican immigrant Donna Moodie, which secured a loan to build a manufacturing space and expand its retail operations.
  • Ascend 2020 has helped… 140 businesses secure $5 million in contracts and $3 million in investment capital. “The model is really about formalizing access to tailored money, markets, and management training for minority entrepreneurs,” a spokeswoman for JPMorgan told ImpactAlpha.

You might also like...