ACE announces its continued partnership with JPMorgan Chase and the close of $100 million for the Entrepreneurs of Color Loan Fund (Loan Fund), an impact investment loan fund that works with local community development financial institutions (CDFIs) to accelerate the flow of capital to minority-led businesses.
The partnership represents JPMorgan Chase’s latest commitment to provide $100 million 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.
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.
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For details on how ACE can help you with capital, coaching and connections for your small business, visit aceloans.org.
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