Atlanta, Georgia October 26, 2021. ACE is excited to share that we are a part of the network of CDFIs and funders partnering with JPMorgan Chase & Co. and the EOCF to provide diverse and underserved entrepreneurs in Atlanta with capital and technical support. Launch of the partnership was announced on Tuesday, October 26th at Morehouse College by Mayor Keisha Lance Bottoms, Byna Elliott, Dale Royal, and Steve Hall, along with several other partners. The event began with a round table discussion featuring key stakeholders to highlight the challenges faced by entrepreneurs and small businesses in Atlanta and how our ecosystem can continue to address them in innovative ways.
The partnership represents JPMorgan Chase’s recent $3.2 million commitment to small businesses of color through the Entrepreneurs of Color Fund (EOCF). The partnership will allow ACE to continue providing loans and business development resources to help its borrowers create and grow sustainable businesses. The collaboration will also expand existing collaborative work with amazing local partners- including Local Initiatives Support Corporation (LISC) Atlanta, Atlanta Wealth Building Initiative (AWBI), Invest Atlanta, Village Micro Fund, Morehouse Innovation and Entrepreneurship Center, Latin American Chamber of Commerce of Georgia, and Georgia Micro Enterprise Network- to continue to build the Atlanta small business ecosystem.
“ACE is proud to continue our long-standing partnership with JPMorgan Chase and LISC through the EOCF,” says ACE Chief of Strategic Partnerships, Martina Edwards. “This collaboration will enable our Atlanta ecosystem to expand capacity and deliver equitable solutions around both capital and business advisory support,” said Edwards.
The expansion is part of JPMorgan Chase’s $30 billion racial equity commitment that includes $350 million in philanthropy, equity investments, and low-cost loans over the next five years to help grow Black, Hispanic and Latino, women-owned and other underserved small businesses.
For details on how ACE can help you with capital, coaching and connections for your small business, visit aceloans.org.
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