Updated: May 10, 2021
JPMorgan Chase awards $475k to support business owners from historically marginalized groups as part of the Ascend Phoenix program
The Arizona Hispanic Chamber of Commerce has received a $475,000 grant from JPMorgan Chase to help small businesses owned by Latinx, African American, Native American and other historically marginalized communities.
The funds will boost a program called Ascend Phoenix, which is part of JPMorgan Chase’s Small Business Forward program. The Ascend program is now in 14 cities around the country. It helps businesses expand through access to training, professional development and networking and mentoring opportunities.
“Ascend Phoenix is absolutely critical for the success of small businesses, minority owned businesses here in Arizona,” said Monica Villalobos, president and CEO of the Hispanic Chamber.
The chamber will partner with the Minority Business Development Agency’s business center, the Native American Business & Economic Development Center and Chicanos Por La Causa’s Prestamos CDFI to implement the program over the grant’s two-year life.
JPMorgan Chase granted the chamber $250,000 in 2019 to start the Ascend Phoenix program.