On February 13, JPMorgan Chase announced the creation of a
South Bronx Entrepreneurs of Color Fund (EOCF). Excelsior Growth Fund (EGF) and
Accion East are the administrating lenders for the new fund.
The fund is part of JPMorgan Chase’s $150 million Small Business Forward
program. Several million dollars in capital are available for lending to S.
Bronx businesses. EGF and Accion will also provide advisory services and
training.
“We applaud JPMorgan Chase for their leadership in driving and funding this initiative, and bringing together partners that are well-equipped to create lasting change for businesses in the South Bronx,” says Steven Cohen, President of Excelsior Growth Fund. “As an alternative nonprofit lender and Community Development Financial Institution, Excelsior Growth Fund has a mission to provide capital to underserved small businesses, and thanks to this initiative there is now increased support available for entrepreneurs of color in the South Bronx.”
Entrepreneurs interested in applying to the fund can contact us at 1-866-466-9232 or apply for a loan on our website.
