Chase Liaisons Teach Black Businesses Financial Fundamentals

JPMorgan Chase's community managers are helping black businesses in Sacramento prepare for loans by teaching them fundamental financial skills.

'We teach the credit portion … so when they walk into the bank and the lender looks at their credit score, they can be proud of the number and not have any fear,' said Evan Moore, JPMorgan Chase's Modesto community manager. Andrea Andrade, vice president and community manager for Stockton and San Joaquin County, echoed that message.

'We have Business 101 content where we discuss starting at the foundation, the core, before moving on to anything else,' she said. The fundamentals include understanding cash flow, budgeting, saving, and maintaining healthy credit. Andrade emphasized the importance of personal credit in securing business loans, stating 'Personal credit is the gateway into business credit.'

JPMorgan Chase's community managers are providing free financial education workshops and resources for businesses, including access to small business consultants who offer coaching.