NEW ORLEANS — Fund 17, Propeller and Thrive New Orleans have announced the creation of the Financial Wellness Collaborative sponsored by JPMorgan Chase. This free program is designed to assist entrepreneurs and small business owners bolster their overall financial health through a series of workshops and one-on-one individualized support in areas such as assembling loan packages and financial statements, Quickbooks accounting, business tax filings and raising credit scores.
This collaboration between the three entrepreneurial support organizations represents a holistic approach for preparing more BIPOC entrepreneurs to access capital, according to a spokesperson. The collaborative targets specific needs and opportunities to prepare small businesses to approach lenders and access capital.
“The road back is a long one for local small businesses hit hard by the pandemic. To recover, grow and thrive, access to capital is critical,” said Jarrett Woods, Chase senior business consultant in New Orleans. “Chase is honored to be part of this collaboration with Propeller, Fund 17 and Thrive. Together, we will empower business owners to take control of the future.”
Free workshops and tailored individual assistance are set to begin August 2022 and will run through the first half of 2023 with focus areas including credit score improvements, certifications, financial and managerial accounting, Quickbooks, tax preparation, and loan application assistance. Each topic will also include available one-on-one technical assistance for workshop participants.
“We are excited about this ecosystem-wide collaboration with our partners Fund 17 and Thrive New Orleans. We know that inability to access capital can often be caused by many underlying factors which are also foundational for strong business health,” said Patrick Hernandez, Propeller senior capital access manager.
Fund 17 Executive Director, Veranisha Thompson said, “Fund 17 has witnessed the need for a program like this through previous business and capital readiness support work and are hopeful for the tremendous impact it will have.”
“We are stronger together, and we have a successful track record of partnership with Fund 17 and Propeller to bring more resources to our small business community,” said Thrive New Orleans Executive Director Chuck Morse.
