The Venture Jobs Foundation on Thursday announced it has received a $100,000.00 grant from JPMorgan Chase & Co. to establish the VJF Jobs Kitchen program.
The VJF Jobs Kitchen program provides entrepreneurs with professional and educational resources to accelerate their business plans to the point of qualifying for capital. In return, companies must commit to bringing low- and mid-skill jobs to workers in challenged neighborhoods.
“Access to capital is crucial for businesses in communities like Rochester and conventional small business loans can often times be hardest to get. This is especially true for many low-wealth entrepreneurs who wind up struggling and sometimes failing as a result of the lacking financial support,” said Matthew Tipple, market executive-middle market commercial banking at JPMorgan Chase. “We also know that small businesses are the primary drivers of job growth, contributing about two-thirds of all new jobs in the private sector. That’s why we support nonprofit organizations such as the Venture Jobs Foundation and programs such as the VJF Jobs Kitchen.”
The program was announced at VJF’s annual Rochester Prosperity Conference. To learn more about the organization and its programs, visit www.venturejobs.org.
“Broader access to professional resources and funding is critical to driving more inclusive economic growth in Rochester,” said Dennis DeLeo, VJF president and founder. “We’re grateful to JP Morgan Chase for its support of the Jobs Kitchen program. This is a great next step toward getting local entrepreneurs started on the right foot to achieve the ultimate goal of job growth and prosperity in our community.”
VJF makes impact investments in support of its charitable purpose, funding small businesses that will its capital to create jobs in higher poverty neighborhoods.
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