The announcement was made at the opening of PHX Startup Week, a weeklong event with panels, presentations, resources and information to help inspire and connect entrepreneurs. Chase for Business sponsors the events in Phoenix, Tampa, Dallas, Columbus and Detroit to help communities grow their local entrepreneurial ecosystems.
The grants will help the nonprofit organizations – located in Phoenix, Flagstaff, Tucson and Nogales – provide training, technical assistance, and in some cases, micro-lending for the state’s underserved entrepreneurs.
“We’re thrilled to return as title sponsor of Phoenix Startup Week for the third year, and excited to announce almost $1 million in grants to support nonprofits that assist underserved entrepreneurs, including women and minority small businesses, throughout Arizona,” said Curtis Reed, Region Manager for Chase’s Middle Market banking in Arizona.
This most recent support of nonprofit programs for small businesses is part of JPMorgan Chase’s Small Business Forward initiative – a $75 million initiative to increase access to capital and support for women, minority and veteran-owned small businesses. Small Business Forward is a global initiative developed by JPMorgan Chase to support small businesses with the potential to grow, offer quality employment, and create economic opportunity for vulnerable populations and their communities.
The grants were awarded to:
Accion – $125,000 to support outreach and small business development services throughout Arizona to underserved entrepreneurs who desire self-sufficiency but face barriers in qualifying for loans through traditional credit avenues.
Arizona Hispanic Chamber of Commerce Foundation – $100,000 to support programs providing training and technical assistance for underserved entrepreneurs.
ASU Foundation “Prepped” Program - $145,000 for “Prepped,” a community program that works with new and existing underserved mobile food entrepreneurs to help them advance their businesses.
Chicanos Por La Causa’s subsidiary Prestamos – $150,000 to support lending programs for underserved entrepreneurs.
Nogales Community Development Corporation – $100,000 to support its Business Loan Program, which facilitates neighborhood-based commerce by providing credit and related services to business owners in the underserved markets of Nogales, Ariz., and Santa Cruz County, Ariz.
Northern Arizona Center for Entrepreneurship and Technology (NACET) – $100,000 to this organization, based in Flagstaff, Ariz., to support its programs for underserved entrepreneurs.
SEED SPOT – $105,000 for programs to provide training and technical assistance to underserved entrepreneurs.
University of Arizona Foundation – Eller Economic Development – $100,000 to support community programs for training and technical assistance for underserved entrepreneurs in Tucson.