The Justine PETERSEN organization says FCB Banks in Metro East is the newest investor into JP’s Emerging Markets Loan Fund.
In so doing, FCB joins a growing list of both and local and national investors that includes a range of financial institutions and philanthropic entities. Justine PETERSEN and banks often team on “gap financing” for small businesses, allowing them to borrow more dollars than a bank is able to provide.
The $300,000 investment by FCB Banks will be split 50/50 across the Missouri and Illinois markets, taking the form of small business loans to those businesses not positioned to access mainstream finance.
The Emerging Markets Loan Fund is an equity-building instrument for Justine PETERSEN/Great Rivers Community Capital, birthed by CDFI (community development financial institution) peers Accion New Mexico (now DreamSpring).
The fund assists mission lending on both sides of the Mississippi River.