Justine PETERSEN recently announced being a recipient of a federal grant in the amount of $6.2 million.
The grant comes from the the U.S. Treasury Department’s Community Development Financial Institution (CDFI) Fund Equitable Recovery Program (ERP), which is focused on providing economic support from the Covid-19 pandemic to low-and-moderate income communities. JP plans to deploy the funds for minority-owned businesses in the ERP census tracts throughout its Midwest footprint (Missouri, Illinois, Kansas).
“These grants—representing the largest CDFI grant program in history—will enable hundreds of community lenders to invest in small businesses and entrepreneurs, and also provide home loans for families, financial services for local nonprofits, and capital for community organizations,” said Vice President Kamala Harris, who announced the awards on Monday, April 10, 2023 along with Deputy Secretary of the Treasury Wally Adeyemo.
JP also congratulated its neighbor, St. Louis Community Credit Union, for also being a recipient of an ERP grant. JP and St. Louis Community Credit Union were among 603 grant recipients.