Phoenix Startup Week Again Kicks Off With Big Support From Chase Bank
Last year when Phoenix startup week kicked off, JP Morgan Chase stepped up to the plate with $925,000 in grants to organizations that provide programs to assist underserved entrepreneurs, including women and minority small businesses, throughout the state. That was more than double the money they contributed in 2016 ($240,000). This year they topped it off again with $1.1 million dollars in grants going to similar organizations.
In the spirit of Rise Of The Rest, Chase, Techstars and Startup Week know that a rising tide lifts all boats. Providing much needed capital to organizations that are helping the underserved entrepreneurial communities is a big part of Chase Bank’s $150 million dollar Small Business Forward program.
“Supporting underserved entrepreneurs and small businesses helps revitalize communities and creates jobs,” said Barb Tripp, Executive Director and Chase Business Banking Market Manager. “Through our charitable grants and sponsorship of Startup Week, we’re deeply committed to inclusive growth that helps more people share in the rewards of a growing economy.”
AZ Big Media reports that the grants went to:
Accion – $125,000 for this Community Development Financial Institution (CDFI) to provide access to capital to underserved entrepreneurs. The funds deepen Accion’s ability to make loans and provide financial education and technical assistance to aspiring and existing entrepreneurs.
Arizona Hispanic Chamber of Commerce Foundation – $115,000 to enhance support and assistance aimed at encouraging entrepreneurship in low- to moderate-income communities through workshops, seminars, training, networking, technical assistance, the promotion of business procurement activities and access to working capital.
ASU “Prepped” Program – $150,000 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 – $245,000 to support CPLC’s lending programs for underserved entrepreneurs and small businesses. These programs include CPLC’s CDFI, Prestamos, which promotes business and community development and provides technical assistance, business capital and commercial real estate loans.
LISC (Local Initiatives Support Coalitions) Phoenix – $100,000 to assist underserved small businesses in Phoenix’s South Central Corridor to strengthen and advance their businesses well before the scheduled 2019 light rail construction begins. The funding would provide cohort training and technical assistance on topics such as marketing, loan packaging, and access to capital, accounting systems, budgeting, bookkeeping and others.
Nogales Community Development Corporation – $100,000 for its Business Loan Program and Business Incubator. This organization focuses on the underserved area of southern Arizona and combines lending, business planning, technical assistance and related services to help underserved entrepreneurs.
SEED SPOT – $160,000 for this organization recognized as one of the nation’s top three social impact incubators. The grant would support the organization’s programs for underserved entrepreneurs.
University of Arizona Foundation – McGuire Center for Entrepreneurship Economic Development Programs – $105,000 for the program, which taps Eller College of Management faculty, students and staff to work with small business owners in Tucson, South Tucson and Southern Arizona to improve their managerial skills and grow their businesses.
AZ Big Media compiled more in depth contact information for all of these organizations, here.
Phoenix Startup Week continues through Friday with a wide variety of events for startups, founders, entrepreneurs, investors and stake holders in the Phoenix startup community. Check out all the action here at phxstartupweek.com