JPMorgan Chase grants $500K to 3 San Antonio nonprofits to boost small businesses

Chase’s support for LISC will help the nonprofit build a small business ecosystem, the news release said.

LISC said it aims to enable organizations to attract investment and build robust, sustainable neighborhoods and economies. Additionally, LISC seeks to help address past and current inequities such as housing, health, wealth and other challenges.

Leilah Powell, LISC San Antonio executive director, said the grant will allow LISC to convene dozens of stakeholders to help identify gaps and determine community priorities, such as common applications, coordinated calendars and statewide policy changes.

"JPMorgan Chase is a critical player in local systems change work, and we are grateful for their funding efforts to identify and grow leadership and develop sustainable capacity," Powell said in a statement.

MassChallenge officials said their nonprofit strives to connect startups, experts, corporations and communities in order to grow and transform businesses and economies.

MassChallenge officials also said entrepreneurs working with their group benefit from mentor matching, a network of experts, tailored courses, pitch critiques and more at no cost.

Jon Nordby, head of ecosystem and community at MassChallenge, said the grant funds will permit his organization to support hundreds of underrepresented or previously overlooked startups, ultimately creating more jobs and driving growth.

“Our work in San Antonio is unique because of the city's thriving, entrepreneurial community and high bilingual population. This allows local experts to successfully mentor early-state entrepreneurs outside the U.S. looking to move into the American market,” Nordby said in a statement.

Dorian Cockrell, vice president of global philanthropy for JPMorgan Chase, said the grant further bolsters San Antonio’s small business ecosystem.

“JPMorgan Chase’s investment expands these opportunities across San Antonio and builds off the strong foundation laid by these three dedicated organizations,” Cockrell said in a statement.