West Side United providing grants to 39 small businesses on Chicago’s west side to help COVID recovery
Acknowledging the devastating effects COVID-19 has had in Chicago’s Black and Brown communities, West Side United hospitals announced today they are investing $390,000 to support small business growth and recovery efforts in collaboration with JPMorgan Chase, Northern Trust, and Accion Chicago.
“We are honored to expand the number of businesses who will receive support from our 3rd small business grant pool. Our 1st grant pool provided funding to 7 businesses. This year we are supporting 39 distinct businesses across all of targeted communities. West Side United and our partners are excited to fund businesses that are revitalizing corridors in Austin, incubating in the Hatchery and serving as a beacons of resilience and transformation across the our other 8 communities,” said Ayesaha Jaco, Executive Director, West Side United.
West Side United received 158 applications. Given the challenges resulting from the COVID-19 pandemic, West Side United’s Community Advisory Committee urged the organization to use available funds to provide support to as many businesses as possible versus larger grants to a smaller number of businesses. Through the Small Business Accelerator program, 39 businesses will be receiving up to $10,000 each.
Jumper Store, a small business located in Belmont Cragin, is receiving its second grant. “The West Side United Grant was timely. Our business will be able to stay afloat during this difficult and challenging time,” said Steve Rangel, Founder of The Jumper Store. “The grant will help us stay in business and keep our team members employed.”
With guidance from Accion Chicago, hospital leaders and members of West Side United’s Community Advisory Committee businesses were selected from Austin, North and South Lawndale, East and West Garfield Park, West Town, Humboldt Park and Belmont Cragin.
“Small businesses like these are the backbone of disinvested communities, and they have been crushed by COVID-19,” said Mary Kate Daly, Vice President, Patrick M. Magoon Institute for Healthy Communities at Lurie Children’s Hospital. “For West Side United hospitals, improving health is more than caring for patients when they show up at our doors. We need to engage in community-led initiatives to support COVID-19 recovery and economic development efforts to truly impact health.”
In addition to these grants, West Side United hospitals have been working to integrate some of these businesses into their supply chain to provide opportunities for more sustainable growth.
West Side United is a 2019 recipient of JPMorgan Chase’s AdvancingCities challenge, a $500 million philanthropic investment to drive inclusive growth and create greater economic opportunity in cities around the world.
“Small business resiliency and growth is key to the prosperity of West side communities – from creating wealth for families to generating local jobs,” said Charlie Corrigan, Head of Midwest Philanthropy at JPMorgan Chase. “At JPMorgan Chase, we are committed to advancing racial equity and economic inclusion on the South and West Sides, by using our business, philanthropy, policy and research expertise.”
JPMorgan Chase has a $40 million philanthropic commitment to help create economic opportunity on the South and West sides. In 2020, the firm also committed to committing to increasing homeownership among 3,000 Black and Latinx families in the Chicago region, through an additional $600 million in home lending to these families over the next five years.
All grantees, as well as all applicants are also eligible for business coaching from Accion Chicago, a non-profit that provides the tools and on-one-coaching for individuals to create and expand their small business regardless of their backgrounds and economic barriers.
