Loans sought by entrepreneurs who do not have access to commercial or conventional loans. Parameters on microloans provided by the U.S. Small Business Administration include a $50,000 loan cap, which was recently raised from $35,000, and a 72-month amortization maximum. “The average microloan is closer to $10,000 though,” says Galen Gondolfi, chief communications officer of Justine Petersen, an SBA microloan intermediary lender. “In 2010 our average loan was $6,500, and in 2011 we will be closer to $8,000.”<\/p>

How can business owners use a microloan to finance their businesses?<\/strong><\/p>

As an alternative to a credit card for short-term loans, microloans are available to help new and established businesses. “Once microloan clients are able to, our goal is to help them refinance with a mainstream lender,” says Gondolfi. “We often partner with banks.”<\/p>

Microloan clients run the gamut for business types and industries. “We serve four counties in the Metro East as well as all of Missouri,” says Gondolfi. “We have a $1.5 million loan pool from a CDFI fund that is earmarked for businesses in the city proper with a loan cap of $50,000. The majority of our loans go to women entrepreneurs.”<\/p>

Whether a business is a startup or an existing business, it is eligible for a microloan. “It’s all about access to capital,” says Gondolfi. “We are lending to startups, where some banks are not in the position to. We are also lending to existing businesses who are struggling. We are open to blemished credit. I would not say that our underwriting is relaxed, but it is progressive. For example, if you have a low credit score, then we will look at what you have to offer for collateral.”<\/p>

The donation will fund technical assistance and lending to entrepreneurs participating in the organization’s Small Business Administration micro-loan revolving loan fund. The funding from Fifth Third Bank leverages a $460,000 loan pool from SBA that will be available to low-and-moderate income small-business owners who have been unable to access affordable mainstream funding.<\/p>

The typical business eligible for this type of funding will have an average credit score of 575.<\/p>

Robert Boyle is chief executive of Justine Petersen.<\/p>

Cincinnati-based Fifth Third Bancorp Fifth Third Bancorp<\/u><\/font><\/a><\/strong> Latest from The Business Journals<\/span> Follow this company<\/u><\/font><\/a> <\/span><\/span><\/span><\/span>is one of the largest banks in St. Louis with 14 locations and $603.5 million in local charter deposits.<\/p>

Continue to the article here<\/a>.<\/p><\/div>"},"485":{"seqNum":7,"id":485,"title":"St. Louis on the Air: Local Microfinance","longTitle":"{longTitle}","publishDate":"Oct 10, 2011","image":"\/images\/uploads\/St._Louis_Microfinance_Conference_Logo_2_thumb.JPG","videoId":"","content":"

On Wednesday, October 6th, St. Louis on the Air, a program of St. Louis Public Radio, had a segment on Local Microfinance. Bob Annibale, Global Director of Microfinance of Citi, Bridget Flood, Executive Director of Incarnate Word Foundation, and Galen Gondolfi, Chief Communications Officer & Senior Loan Counselor of Justine PETERSEN, discussed microfinance touching on its international roots, as well as honing in on local microenterprise efforts. They referenced the upcoming Thursday, October 13th St. Louis Microfinance Conference at University of Missouri St. Louis. For more information on the conference click here<\/a>.<\/p>

Hear the full segment here<\/a>.<\/p>"},"482":{"seqNum":8,"id":482,"title":"Justine PETERSEN featured in the St. Louis Post-Dispatch","longTitle":"{longTitle}","publishDate":"Sep 26, 2011","image":"\/images\/uploads\/JPLogo_news_570.png","videoId":"","content":"

Experts Offer Prescriptions for Job Creation<\/strong><\/p>

By Tim Logan, St. Louis Post-Dispatch<\/p>

Many smart people have applied their brainpower to the question of how to pull the nation out of the ongoing jobs crisis. The answers have not come easily. We put the question to three experts in St. Louis: What should government and policymakers do - or not do - to create jobs in this economy?<\/p>

Here's what they said:<\/p>

Open the taps to small business<\/strong><\/p>

As the nation's third-largest microlender, we see firsthand the tangible link between entrepreneurship and job creation, and by extension, understand the importance of small-business financing to job growth. The Association for Enterprise Opportunity argues that if one in three micro-businesses hired one person to work full time, the nation would reach full employment. Meanwhile, business starts have increased in the economic downturn as large corporations downsize, while many banks have tightened - or completely eliminated - start-up financing. In short, federal investments in to small-business lending and Community Development Financial Institutions are nothing bu imperative.<\/p>

- Galen Gondolfi, chief communications office, Justine Petersen<\/em><\/p>

Continue to read the article here<\/a>.<\/p>"},"480":{"seqNum":9,"id":480,"title":"Justine PETERSEN Micro-Loan Clients Featured in the St. Louis Post-Dispatch","longTitle":"{longTitle}","publishDate":"Aug 16, 2011","image":"\/images\/uploads\/BBQ_thumb_1.jpg","videoId":"","content":"

Locally made barbecue sauces find a niche in St. Louis stores <\/strong><\/p>

By Joe Bonwich<\/p>

Local store shelves are loaded with barbecue sauces, but two tiny startup companies are betting that there's room for more.<\/p>

Craig & Toni Quality Products makes Millie's Barbecue Sauce, named in honor of co-owner Craig Brown's late mother. Freddie Lee's Ghetto Sauce LLC got its name — well, owner Freddie Lee James Jr. tells it best.<\/p>

"I was talking to my wife about it, and I said, 'One day, God's going to bless us to get out of the ghetto,'" he recalls. "She said, 'That's it, you have to call it Freddie Lee's Ghetto Sauce.'"<\/p>

In both cases, friends and family told the entrepreneurs that their sauces were so good that people would buy them. And in both cases, they've been working through the often arduous process of the mass production, distribution and marketing necessary to turn their recipes into commercially viable products. They already have achieved early successes.<\/p>

Continue to read the article here<\/u><\/a>.

<\/p>"},"477":{"seqNum":10,"id":477,"title":"Great Rivers Community Trust Recognized by AFI for Its Comprehensive Communications Strategy","longTitle":"{longTitle}","publishDate":"Aug 4, 2011","image":"\/images\/uploads\/afi_index_emblem_thumb.gif","videoId":"","content":"

AFI Grantee Increases Impact Through Comprehensive Communications Strategy<\/strong><\/p>

Great Rivers Community Trust, established to honor Justine Petersen, is an Assets for Independence (AFI) grantee. Located in St. Louis, Missouri, it, like many other nonprofit organizations, began as a small venture of only three staff members. Undoubtedly, it can be challenging to execute an AFI project with limited capacity, but Great Rivers Community Trust demonstrates how inventively improving a program, including incorporating a communications strategy, can benefit the organization and support its success. <\/p>

Founded in 1997 in honor of Justine Petersen, who was an advocate for economic justice, the mission of the Trust is to connect institutional resources with low- to moderate-income individuals. To date, thanks to both its work with the United Way before receiving its first AFI grant and to its own AFI grant, the Trust has helped open more than 1,500 Individual Development Accounts (IDAs), assisted 16,000 individuals through credit building, helped 4,300 individuals purchase homes, and provided $7 million in micro loans to 1,300 microenterprise borrowers.<\/p>

Continue to read the article here<\/strong><\/a>.<\/p><\/div>"},"479":{"seqNum":11,"id":479,"title":"Justine PETERSEN Client Featured in the St. Louis Small Business Monthly","longTitle":"{longTitle}","publishDate":"Aug 1, 2011","image":"\/images\/uploads\/Thomas_and_John_Brown_(sbm_article.jpg","videoId":"","content":"

Minority-Owned Business Profile:<\/strong> Tony's<\/strong><\/em>: <\/strong>"<\/strong><\/em>An Unlikely Sure Thing"<\/strong><\/p>

"My name is Thomas Brown, and I'm 22 years old. After earning my high school diploma I decided I wanted to do something different than my peers. I want to be an example to what not just a young black man can do or be, but to what youth in general can accomplish."<\/p>

Those were the first words of a cover letter addressed to Galen Gondolfi, a senior loan counselor and chief communications officer at Justine PETERSEN, a nonprofit that provides microfinancing to small businesses. Gondolfi sees countless entrepreneurs. And, after eight years of helping the "entrepreneurial orphans," misfits for traditional banking products (in other words: almost every business owner), he has become one that is not easily impressed.<\/p>

But there was an earnestness to the tone of young Brown's letter and the care he took in the outlining of his idea to open a burger shack restaurant (Tony's) in the Metro East.<\/p>

So, Gondolfi, t-shirt clad on a 95%F day, traveled out to East St. Louis to meet Thomas Brown and his older brother, John, at Tony's future location. The Brown's arrived in pressed shirts and ties. Immediately, Gondolfi knew he was dealing with some impressive individuals.<\/p>

"Thomas is already sophisticated in his analysis of cost," says Gondolfi. "He is different from most small restaurateurs who open a place because they are good cooks. He understands food preparation and how to minimize waste. I don't usually hear that from start-up entrepreneurs. He has stages of funding planned out, so he is a realist while being an optimist."<\/p>

Most of Thomas Brown's business knowledge came from his experience as a manager at McDonald's where he was employed for six years. He soaked up everything they would teach him.<\/p>

To Gondolfi, Brown's willingness to learn and be patient while still dreaming big speaks to his character, something still important when seeking credit.<\/p>

"In the land of bling-bling, I can't believe this kid even exists," says Gondolfi. "He seems so studious, and he's leveraging resources anywhere he can. I mean, he found an accountant at his big church. There are established businesses that I have worked with that have never sought outside counsel, and here is a 22-year-old with an accountant."<\/p>

Thomas Brown does not have a business that is attractive to most lenders. However, he is in the sweet sport for Justine PETERSEN, a certified SBA microlender. Even though the organization has not yet financed his restaurant, Gondolfi is already beginning to work with both Thomas and John on building their personal credit through special programming, tutors and mentorship.<\/p>

"This kid is going to do this with or without the help of Justine PETERSEN," says Gondolfi. "He's already invested in it, and he has the patience and social maturity to make it happen."<\/p>

Read the article at: http:\/\/www.sbmon.com\/Management\/tabid\/128\/itemid\/1471\/Default.aspx<\/u><\/a>. Be sure to scroll to the end of the page.<\/p>"},"474":{"seqNum":12,"id":474,"title":"Chicago Credit Building Coalition","longTitle":"{longTitle}","publishDate":"Jul 22, 2011","image":"\/images\/uploads\/chicago_coalition1_thumb.jpg","videoId":"","content":"

Chicago Credit Building Coalition to Provide Innovative, Credit-Building <\/strong>Financial Products along with Financial Education and Coaching<\/strong>
By Business Wire
<\/p>

Representatives of 11 Chicago-area community development organizations and
Citi will gather today to applaud Chicago City Treasurer Stephanie D. Neely’s
launch of the Bank On Chicago financial inclusion initiative and to announce
that they have joined together to form the Chicago Credit Building Coalition
(CCBC).

The CCBC will expand financial inclusion for low- and moderate-income
residents in the Chicago area by complementing existing financial education
programs with a financial tool, provided by Citi, that supports
credit-building. The community development organizations Justine PETERSEN and
Credit Builders Alliance will provide the CCBC members with assistance and
tools to increase their capacity to provide these services and to monitor the
impact that financial coaching complemented by the use of this product can
have on individuals’ credit profiles.<\/p>

“Having a good credit profile is essential for lowering an individual’s
day-to-day transaction costs, growing their assets through small business or
homeownership and securing employment,” said Stephanie D. Neely, Chicago City
Treasurer. “These organizations are demonstrating their commitment to helping
underserved Chicago residents, and by working together they will have a
tremendous, positive impact.”

The Chicago Credit Building Coalition members are: Chicago Urban League; Citi
Community Development; Illinois Hispanic Chamber of Commerce; JVS Chicago;
Local Initiatives Support Corporation of Chicago; Mercy Housing Lakefront;
National Latino Education Institute; Neighborhood Housing Services; Partners
in Community Building; The Resurrection Project; South Side Community Federal
Credit Union; and Spanish Coalition for Housing. Supporting partners of the
CCBC are Justine PETERSEN and Credit Builders Alliance.

Highlights of the program include:

* Financial coaching and education to help participants improve their
    financial behavior and learn credit- and asset-building best practices.
* Client access to a secured or unsecured credit card provided by Citi
    subsidiary Banamex USA to help individuals build their credit history.
* A streamlined, Web-based system to help nonprofit partners assist clients
    with applying for and monitoring their use of the credit card. Nonprofit
    Justine PETERSEN developed the system along with Citi Microfinance and
    will provide technical assistance to the CCBC members for card processing.
* The ability for CCBC members to monitor changes in their clients’ credit
    score, through the assistance of Credit Builders Alliance, which will
    provide training and access to CCBC members and the opportunity to
    identify those programs that are most impactful.

“Especially in the current economic climate, being creditworthy is essential
to economic empowerment,” said Donna Rockin, Director of the Illinois SBDC \/
Duman Microenterprise Center at JVS Chicago, which is serving as the lead
coalition member. “We have provided one-on-one credit counseling for over
20,000 individuals since 1997. We’ve seen that the right kinds of intervention
can take people with low or no credit scores and with significant debt to the
point where they can buy a home or start a business. By coming together to
offer this innovative package of financial tools and education, we are going
to have a tremendous impact in terms of helping Chicago residents establish
and raise their credit scores. It’s a collaborative and comprehensive model
that other cities will want to adopt.”

"The communities we serve need not only financial coaching but also access to
financial products and services in order to achieve financial inclusion and
success," said Elba Aranda-Suh, Executive Director of the National Latino
Education Institute. "Citi's ability to provide useful financial tools that
also will enable people to raise their credit scores complements the critical
financial coaching and education that the coalition members are already
providing."

The Banamex USA credit card is already in use in other programs to help people
with low credit scores or no credit to build their histories and increase
their credit scores. For applicants with no or limited credit history, the
secured card requires a small minimum cardholder security deposit of $300 and
a commitment as prescribed by the community organization to attend a series of
free financial education classes on improving one’s credit scores and
financial capability. Early pilots indicate that customers have increased
their scores by an average of 50 points through the use of the card and
financial education resources. Close to 23 percent of customers opening a
Banamex USA card originally had no reported credit history.

“This initiative is the kind of collaborative approach that we’ve found to be
effective in our ongoing efforts to expand financial inclusion,” said George
Wright, Midwest Region Director for Citi Community Development. “These local
partners, with in-depth knowledge of the financial challenges impacting
Chicago residents, are combining forces to maximize impact and scale of their
credit building efforts. We think that’s a smart strategy and we’re proud to
provide the technical assistance and the financial product to move this
initiative forward.”

About the Chicago Credit Building Coalition (CCBC)

The Chicago Credit Building Coalition (CCBC) is a collaborative initiative
that will increase financial capability, expand access to financial services,
and provide financial coaching and a financial tool — an unsecured or secured
credit card offered by Citi — that will help people build their credit scores.<\/p>

Continue to read the article here<\/a><\/strong>.
<\/p>"},"473":{"seqNum":13,"id":473,"title":"Justine PETERSEN in The St. Louis American","longTitle":"{longTitle}","publishDate":"Jul 21, 2011","image":"\/images\/uploads\/JPLogo_news_570.png","videoId":"","content":"

Justine PETERSEN is Nation's No. 3 Micro-Lender<\/strong><\/p>

By The St. Louis American<\/p>

St. Louis-based Justine Petersen Housing was recognized as the nation’s number three micro-lender by CNN Money, based on number of loans issued. It was ranked third behind ACCION USA and ACCION Texas.<\/p>

Last year, Justine Petersen originated $2.26 million in loans to 335 small businesses, and helped 179 people with poor credit raise their scores. <\/p>

Justine Petersen Housing helps entrepreneurs build better credit by lending small amounts to them. The steady and timely repayment helps business owners improve their profile with traditional lenders. <\/p>

Read the article here<\/strong><\/a>.<\/p>"},"478":{"seqNum":14,"id":478,"title":"Great Rivers Community Capital Awarded $1.5 Million from US Treasury CDFI Fund","longTitle":"{longTitle}","publishDate":"Jul 18, 2011","image":"\/images\/uploads\/CDFI_Fund_Logo_thumb.jpg","videoId":"","content":"

US Treasury Awards $142.3 Million to Benefit Organizations Serving Economically Distressed Communities Nationwide <\/strong><\/p>

Chicago, IL – Director Donna J. Gambrell of the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) traveled to Chicago to join U.S. Senator Dick Durbin and U.S Representative Danny Davis to announce awards totaling $142,302,667 for 155 Community Development Financial Institutions (CDFIs) serving economically distressed communities across the nation. The organizations awarded are headquartered in 40 states and the District of Columbia.<\/p>

The awards are being made through the fiscal year 2011 round of the CDFI Fund’s cornerstone program, the Community Development Financial Institutions Program (CDFI Program), and represent the largest single round of monetary awards in the CDFI Fund’s history. The awards will help these specialized, community-based financial institutions spur local economic growth and recovery, as well as expand access to affordable financial products and services.<\/p>

“Every community deserves to have access to basic financial products and services, from bank accounts to affordable home and car loans. The CDFI Program provides access to rural and urban communities across the country by investing in local financial institutions that serve these communities,” said Deputy Treasury Secretary Neal Wolin. “Today’s awards will provide much-needed capital to help community-based financial institutions offer products and services that would otherwise be out of reach for thousands of low-income Americans.”<\/p>

“Given the many economic hardships currently experienced in many low-income communities across the country, I am pleased to see this historic investment and commitments from the Obama administration in leading new investments in small business, especially in Chicago to rebuild our communities,” said Representative Danny Davis.<\/p>

Treasury held the national award announcement at the Fulton-Carroll Center – a 410,000-square foot small business incubator on the Near West side of Chicago to highlight how CDFIs can play a critical role supporting local entrepeneurs and small businesses spur job creation and economic growth in economically distressed communities across the country. This small business incubator houses almost 120 tenants and was recognized internationally with the “Incubator of the Year” award in 2006 by the National Business Incubation Association.<\/p>

Continue to read the article here<\/strong><\/a>.<\/p>"},"472":{"seqNum":15,"id":472,"title":"Justine PETERSEN in the St. Louis Post-Dispatch","longTitle":"{longTitle}","publishDate":"Jul 15, 2011","image":"\/images\/uploads\/JPLogo_news_570.png","videoId":"","content":"

Paper Savings Bonds are Going Electronic<\/strong><\/p>

By David Nicklaus, St. Louis Post-Dispatch<\/p>

With Congress dithering on the debt ceiling and ratings agencies threatening to downgrade U.S. debt, you'd think the world's biggest borrower would cultivate all the friends it can find.<\/p>

The Treasury, instead, is thumbing its nose at its most patient lenders. It's decided that it doesn't need the grandparents and other folks of modest means who have been plunking down $25 or $100 to own a piece of the national debt.<\/p>

Yes, the paper savings bond is going away. The Treasury announced this week that starting Jan. 1, you'll no longer be able to walk into a bank and buy those solid-looking securities with engraved pictures of notables from Paul Revere to Martin Luther King Jr.<\/p>

One small reprieve: When you file your income taxes, you'll still be able to get your refund in paper Series I bonds, whose earnings vary with inflation. Aside from that, all new bonds will be electronic.<\/p>

The announcement doesn't kill the 76-year-old savings bond program, but it probably will shrink dramatically. In recent months, 89 percent of the bonds sold have been paper ones. Of the 55 million people who own savings bonds, fewer than 1 percent have opened accounts on the Treasury Direct website.<\/p>

From Uncle Sam's point of view, small-denomination bonds have become an expensive way to borrow. Including the payroll savings program, which has already converted to electronic bonds, the Treasury expects to save $120 million over five years by no longer having to print, distribute and keep track of paper.<\/p>

The problem is, even though the Treasury doesn't need its mom-and-pop lenders, many elderly and low-income people do need a convenient way to save.<\/p>

Continue reading the article here<\/u><\/a>.<\/p>"},"471":{"seqNum":16,"id":471,"title":"St. Louis Microlender is No. 3 in the Nation","longTitle":"{longTitle}","publishDate":"Jul 15, 2011","image":"\/images\/uploads\/JPLogo_news_5704.png","videoId":"","content":"

By David Nicklaus, St. Louis Post Dispatch<\/p>

If you need help starting a very small business, St. Louis may not be a bad place to try. A local non-profit, Justine Petersen Housing and Investment, is the nation's third-largest microlender, according to a ranking published this week on CNN Money.<\/p>

The ranking is based on 2008 figures compiled by an arm of the Aspen Institute, but the report says most microfinance companies' current numbers are comparable. Justine Petersen made 335 loans last year for $2.26 million; the 2008 ranking showed it with 295 loans.<\/p>

Microlenders make very small loans to tiny businesses that wouldn't qualify for traditional bank loans. In the U.S., they typically lend a few thousand dollars at a time; in the Third World, loans might be for just a few hundred dollars.<\/p>

Justine Petersen's website features a beauty salon, a soccer-accessories boutique and a barbecue restaurant as local businesses it has helped. The group's Twitter feed mentions recent loans to a car wash in Belleville, a beauty salon in Caseyville and a recording studio in St. Louis.<\/p>

Read the article here<\/u><\/a>.<\/p>"},"470":{"seqNum":17,"id":470,"title":"10 Top Microfinance Companies","longTitle":"{longTitle}","publishDate":"Jul 15, 2011","image":"\/images\/uploads\/CNN_10_top_microfinance2_thumb.jpg","videoId":"","content":"

by CNN Money<\/em><\/p>

Even before the credit crunch, the smallest of small businesses had trouble getting loans.<\/p>

The reasons why are many: Sometimes traditional lenders view them as too risky, or the credit profiles of the small business owners are poor. Some entrepreneurs don't have enough collateral.<\/p>

Enter microfinance companies, or microlenders. These nonprofit organizations help fill in the gap, lending money -- usually no more than $35,000, but often even smaller amounts -- to companies with just a few employees. And their guidelines for lending are much more flexible than the traditional banks.<\/p>

Nearly half of the millions of dollars in loans from 100 microlenders go to startups, according to data from MicroTest, a project run by the Aspen Institute's Microenterprise Fund for Innovation Effectiveness Learning and Dissemination (FIELD).<\/p>

Microlenders provide one-on-one assistance and training for small businesses in addition to loans, said Tamra Thetford of FIELD. So a talented guitar repairperson who needs help with Quickbooks or an entrepreneur who wants emotional support during the launch of his or her business, can get that sort of help from a microlender.<\/p>

The following 10 lenders are the largest in the country based on the number of loans disbursed in fiscal year 2008. Thetford, who is compiling a new list, said that she expects the ranking to stay pretty much the same.<\/p>

These nonprofits help all kinds of businesses. Yours could be one of them.<\/p>

Read the article here<\/strong><\/a>.<\/p>"},"476":{"seqNum":18,"id":476,"title":"Justine PETERSEN in the Northsider","longTitle":"{longTitle}","publishDate":"Jun 1, 2011","image":"\/images\/uploads\/northsider_logo7_thumb.png","videoId":"","content":"

Justine PETERSEN Offers Low-Interest Loans for Home Repairs<\/strong><\/p>

by The Northsider<\/em><\/p>

The nonprofit has teamed up with MidWest Bank Centre to offer a great, affordable loan program for low income homeowners. This low-interest loan will enable many homeowners to make needed repairs to their homes and improve their quality of life. JP also helps with credit building, financial counseling, homeownership, and provides support for small businesses.<\/p>"},"428":{"seqNum":19,"id":428,"title":"Banking and Social Inequity in St. Louis","longTitle":"{longTitle}","publishDate":"May 26, 2011","image":"\/images\/uploads\/Panel1.jpg","videoId":"","content":"

by The St. Louis American<\/p>

As part of Small Business Week of Eastern Missouri, for the third straight year, Justine Petersen recently hosted a panel discussion featuring local and national bankers. Revisiting last year's theme regarding minority access to capital, this year's panel celebrated successes in the last year and discussed future opportunities to explore new partnerships.<\/p>

Co-sponsored by Midwest Bank Centre, Jim Watson, the bank's president, facilitated the panel, which included representatives from Citi Microfinance, Midwest Bank Centre, PNC, St. Louis Community Credit Union and The Bank of Edwardsville.<\/p>

Traveling from Miami, Lewis Roberts of Citi Microfinance highlighted the role of the Banamex USA Secured Credit Card, which through a partnership with Justine PETERSEN, will allow customers to receive coaching on the use and management of the card, ultimately yielding higher credit scores.<\/p>

"This is a unique partnership," said Roberts, "where Citi partners with a local non-profit to provide banking services outside of the strictures of bricks and mortar banking."<\/p>

Alex Fennoy of Midwest Bank Centre spoke of the bank's new Affordable Home Improvement loan, which is available at a competitive interest rate and targeted for low- to moderate-income customers. Tasah Pettis-Bonds of PNC detailed the bank's second-chance checking program called Foundations of Money Management, and Rob Schwarz of The Bank of Edwardsville spoke of their recently launched small dollar loan program.<\/p>

"I welcome bankers to jump in the water with us; there is plenty of room," said Patrick Adams, president of St. Louis Community Credit Union in relation to banks offering progressive products and services to those who are underbanked or unbanked.<\/p>

"The social inequity in the St. Louis area cannot be tolerated."<\/p>

Read the article here<\/a><\/p>"},"342":{"seqNum":20,"id":342,"title":"A Partnership for Economic Empowerment","longTitle":"{longTitle}","publishDate":"May 9, 2011","image":"\/images\/uploads\/galen--cookie,-northsider1.png","videoId":"","content":"

PENROSE<\/strong> — Recently, Justine PETERSEN, a nonprofit, asset-development group, and The Acts Partnership developed a collaborative effort to foster home-ownership and deliver “economic empowering” services to the Penrose and O’Fallon neighborhoods.<\/p>

The Acts Partnership, a community-based development organization (CBDO), in collaboration with 21st Ward Alderman Antonio French, is working to rehab vacant and abandoned homes in the Penrose neighborhood. Justine PETERSEN will help first-time owners qualify to purchase the rehabbed single-family units.<\/p>

Read the article here<\/a>. <\/p>"},"305":{"seqNum":21,"id":305,"title":"Family Financial Fitness Fair Saturday, April 2 at Emerson Park MetroLink Station","longTitle":"{longTitle}","publishDate":"Apr 2, 2011","image":"\/images\/uploads\/Family_Fintess_Fair_570.jpg","videoId":"udTNYtyhUN8","content":"

As part of Illinois’ Money Smart Week April 2-9, join the Mayor of East St. Louis Alvin Parks and others for Family Financial Fitness Fair on Saturday, April 2 from 10:00 a.m. – 2:00 p.m. at the JustBIZ office of Justine PETERSEN, Inc. at the Emerson Park MetroLink Station.<\/p>

The Family Fitness Fair will include free informational seminars on budgeting, basics of banking and raising credit scores, free paper document shredding, plus free popcorn, ice cream, llama rides, petting zoo and other activities for families. All children will receive a free copy of the Bernstein Bears’ book called “Dollars and Sense.” Read the article here<\/a>.<\/p>"},"343":{"seqNum":22,"id":343,"title":"Happy, Long Suffering","longTitle":"{longTitle}","publishDate":"Mar 1, 2011","image":"\/images\/uploads\/juicebox570.png","videoId":"VfKQwT7QIFs","content":"

by Jeremy Nulik<\/p>

Shawn McKie spent his first night in St. Louis in a tube slide in O’Fallon Park. He had just gotten off a bus from Georgia. And before he got on that bus, he had closed up his retail shop and left the comfort of his home.<\/p>

McKie did none of this against his will. He happily sacrificed his security to be with his children who had moved here with his ex-wife. For the nearly two months that he spent secretly homeless in the summer of 2006, McKie did everything he had to do to get back on his feet. All the while, he was driven by a vision for his children’s future that helped him to see beyond his circumstances. <\/p>

Read the article here<\/a>. <\/p>"},"306":{"seqNum":23,"id":306,"title":"Good News 4 a Change: Program helps Granite City residents achieve \u2018American Dream\u2019","longTitle":"{longTitle}","publishDate":"Jan 21, 2011","image":"\/images\/uploads\/kmov_good_News_4_a_change570.png","videoId":"","content":"

(KMOV) –- Part of the American Dream is owning a home. In this economy, some are finding that almost impossible. But through a new rent-to-own program, residents in Granite City can make that dream come true, and it’s "Good News 4 a Change." Read the KMOV new story.<\/a><\/p>"},"309":{"seqNum":24,"id":309,"title":"Wedding Center Looks for Financing","longTitle":"{longTitle}","publishDate":"Jan 10, 2011","image":"\/images\/uploads\/weddingchapel.png","videoId":"","content":"

By Rick DesLoge, St. Louis Business Journal<\/p>

Since January, Tim Irwin and Lisa Turner have invested $100,000 to start their Wildwood Wedding Chapel & Banquet Center. They opened in May and have booked 13 weddings this year and 6 lined up for 2011. <\/p>

But the two have not been able to obtain financing for operating capital they need to continue to invest in and promote their enterprise, in the former Springdale Baptist Church, about 20 miles southwest of St Louis.<\/p>

Six area banks have turned them down for a line of credit loan of about $40,000. They continue meeting with bankers, hoping to land an SBA loan, Irwin said.<\/p>

Continue reading the article here<\/a>. <\/p>"},"307":{"seqNum":25,"id":307,"title":"Justine PETERSEN Quoted in the Huffington Post","longTitle":"{longTitle}","publishDate":"Dec 14, 2010","image":"\/images\/uploads\/huff_post3.png","videoId":"","content":"

5 Ways Microloans Create U.S. Jobs<\/p>

By Gina Harman, President and CEO, ACCION USA
December 10, 2010
The Huffington Post

If you've been keeping up with recent economic news, here's a familiar statistic: small businesses are responsible for 70 percent of job creation in the U.S.<\/p>

Through financing small businesses, microloans are an important factor here -- something every American should keep in mind as job growth continues to stall. Last March, FIELD at the Aspen Institute released a study of 240 clients who had received micro-loans and training from 35 groups nationwide between 2002 and 2007. The study found that the average client more than doubled their revenue - from $103,000 to $243,000 - while the average number of employees skyrocketed from 2.1 to 5.6 within five years. Continue reading the article. <\/a><\/p>"},"308":{"seqNum":26,"id":308,"title":"Justine Petersen in the St. Louis Small Business Examiner","longTitle":"{longTitle}","publishDate":"Dec 11, 2010","image":"\/images\/uploads\/Vino_Vitae570.jpg","videoId":"","content":"

Want to shop local this holiday season? Help build assets this holiday shopping season with the Justine PETERSEN Shopping Guide<\/a>. <\/p>"},"310":{"seqNum":27,"id":310,"title":"Justine Petersen Quoted in Walletpop","longTitle":"{longTitle}","publishDate":"Dec 8, 2010","image":"\/images\/uploads\/news-WalletPop570.png","videoId":"","content":"

A Bad Credit Score's Nasty Surprises<\/strong><\/p>

By Martha White, WalletPop<\/p>

Regular WalletPop readers know by now how important their credit score is when it comes to taking out a loan for a house, car or home-improvement project. But even the financially savvy might not be aware of all the other ways that credit scores -- and credit reports -- can affect them day to day.<\/p>

"We have a lot more clients these days who are interested in finding out more about their credit score," says Kristen Schell, credit building manager at nonprofit financial-services group Justine Petersen in St. Louis. That's because it's not only banks and other lenders who can pull your credit report.<\/p>

Read the WalletPop article here<\/a>. <\/p>"},"311":{"seqNum":28,"id":311,"title":"Justine PETERSEN in the St. Louis Post Dispatch","longTitle":"{longTitle}","publishDate":"Nov 19, 2010","image":"\/images\/uploads\/low_income_homes_5701.png","videoId":"","content":"

Low-income families get a shot at twenty new homes in Granite City<\/strong><\/p>

By Terry Hillig, St. Louis Post Dispatch<\/p>

GRANITE CITY - New, affordable houses are popping up on vacant lots around Granite City, thanks to a program led by a St. Louis-based nonprofit organization called Justine Petersen.<\/p>

Twenty single-family houses will be built through the organization's Twenty-First Homes program, an effort aimed at helping low-income families transition from renting to ownership. Rents are $595 per month, and families that rent for 15 years may buy a house at 60 percent of its then-market value. The houses are currently valued at $150,000. Read the article here<\/a><\/span>.<\/span><\/p>"},"312":{"seqNum":29,"id":312,"title":"Justine PETERSEN in Urban Review STL Blog","longTitle":"{longTitle}","publishDate":"Oct 30, 2010","image":"\/images\/uploads\/AffordableHousing_stlblog570.png","videoId":"","content":"

Affordable Housing In Granite City, IL<\/strong><\/p>

By Steve Patterson, Urban Review STL Blog <\/p>

Eight new homes were recently completed on infill lots to the east of downtown Granite City, IL. Assistance was provided by the federal American Recovery and Reinvestment Act via the Illinois Housing Development Authority. The homes were developed by Justine PETERSEN.<\/p>

Read the article here<\/a>. <\/p>"},"313":{"seqNum":30,"id":313,"title":"Justine PETERSEN Quoted in USA Today","longTitle":"{longTitle}","publishDate":"Oct 25, 2010","image":"\/images\/uploads\/JPLogo_news_570.png","videoId":"","content":"

Job Seekers May Want to Do a Credit Check Before an Employer Does<\/strong><\/p>

By Sandra Block, USA Today<\/p>

Even in good times, applying for a job is a nerve-wracking experience. In this economy, it's flat-out terrifying. Dozens of other people are probably vying for the same position, many of them younger, smarter and better-looking than you.<\/p>

Reports that employers are increasingly checking job applicants' credit records only add to job seekers' angst. Thirteen percent of companies conduct credit checks on all job applicants, and nearly half consider credit history for certain jobs, such as employees with financial responsibilities and senior executives, according to the Society for Human Resource Management. <\/p>

Read the article here<\/a><\/span>. <\/span><\/p>"},"314":{"seqNum":31,"id":314,"title":"New Beginnings Sprout in Empty Granite City Parcels","longTitle":"{longTitle}","publishDate":"Oct 22, 2010","image":"\/images\/uploads\/Granite_City_Parcels570.png","videoId":"","content":"

By Scott Cousins, Suburban Journals<\/p>

Michelle Hunt has been watching crews construct the new homes just down from her Delmar Avenue house in Granite City. Recently she got to see what all the noise was about.<\/p>

Hunt on Oct. 15 toured one of the new single-family homes built by St. Louis nonprofit Justine Petersen.<\/p>

Read the article here<\/a>. <\/p>"},"315":{"seqNum":32,"id":315,"title":"There Are Funds Available For Your Business","longTitle":"{longTitle}","publishDate":"Oct 21, 2010","image":"\/images\/uploads\/affordableHousing_stlblog570.jpg","videoId":"","content":"

Justine PETERSEN & The Stevens Group pulled together a great panel discussion to let everybody know that there are organizations here to see their business grow and are willing to assist them in their start up and\/or growth efforts. The 3 on 3 Basketball Tournament allowed local business owners the opportunity to network with each other while still competing. <\/p>

Read the article here<\/a>. <\/p>"},"316":{"seqNum":33,"id":316,"title":"Madison County Treasurer Announces “Micro-loan Program”","longTitle":"{longTitle}","publishDate":"Oct 20, 2010","image":"\/images\/uploads\/JPLogo_news_5701.png","videoId":"","content":"

Staff Report, St. Louis Post-Dispatch

EDWARDSVILLE - Madison County Treasurer Frank Miles has announced a revolving "micro-loan" program to provide small loans to small and start-up businesses that may have trouble getting loans from traditional lenders. Read the aricle here<\/a>.<\/p>"},"317":{"seqNum":34,"id":317,"title":"Ribbon Cutting on Twenty-first Homes Project","longTitle":"{longTitle}","publishDate":"Oct 15, 2010","image":"\/images\/uploads\/RibbonCutting570.jpg","videoId":"","content":"

Pictured: IL State Representative Thomas Holbrook, Granite City Mayor Ed Hagnauer and staff Vivian Hudson, Madison County Treasurer Frank Miles, Madison County Board Members Rick Francher and Art Asadorian, Granite City Aldermen Michael Skoklo and Dan McDowell, Liberty Bank Ed Kasten, Justine PETERSEN board members Filomena Angelucci-Dean, Fr. William Hutchison, Angela Burrage and staff Robert Boyle & Sheri Flanigan-Vazquez.<\/p>"},"318":{"seqNum":35,"id":318,"title":"Ribbon Cutting Set for Granite City Homes","longTitle":"{longTitle}","publishDate":"Oct 13, 2010","image":"\/images\/uploads\/JPLogo_news_5702.png","videoId":"","content":"

By Tim Bryant, St. Louis Post-Dispatch<\/p>

A ribbon-cutting ceremony is set for Friday in Granite City to mark completion of six of the planned 20 houses intended for low-income families hoping to move from renting to home ownership. <\/p>

Justine Petersen, a non-profit asset development organization based in St. Louis, will host the ceremony. The new houses are in or near the 2100 block of Lincoln Street.<\/p>

Mayor Ed Hagnauer, Illinois Rep. Thomas Holbrook and Madison County Treasurer Frank Miles are scheduled to join Justine Petersen officials in showing off the houses. Open houses will be held for two of the six completed homes.<\/p>

Continue reading the article here<\/a>. <\/p>"},"320":{"seqNum":36,"id":320,"title":"Business, Basketball and Building Assets","longTitle":"{longTitle}","publishDate":"Oct 7, 2010","image":"\/images\/uploads\/STL_ESLMonitor_10_7_10_570.png","videoId":"","content":"

Justine PETERSEN wants small business people on the court. Playing host to a 3 on 3 Business Networking Tournament, the local nonprofit asset-development organization will bring small business people together with various local business resources such as technical assistance providers and bankers. The Handle Your Biz tournament will take place at Forest Park Community College on Saturday, October 9.<\/p>

Read the article here<\/a>. <\/p>"},"319":{"seqNum":37,"id":319,"title":"Hoops and Finances","longTitle":"{longTitle}","publishDate":"Oct 1, 2010","image":"\/images\/uploads\/stl_american570.png","videoId":"","content":"

Justine PETERSEN and The Steven Group will present the Handle Your Business 3 on 3 Networking Basketball Tournament this Saturday, October 9 at St. Louis Community College at Forest Park.<\/p>

Continue reading the article here<\/a>. <\/p>"},"321":{"seqNum":38,"id":321,"title":"Justine PETERSEN Hoops It Up","longTitle":"{longTitle}","publishDate":"Sep 30, 2010","image":"\/images\/uploads\/hoops_it_up570.png","videoId":"","content":"

What do small business and basketball have in common? Everything, according to local non-profit asset development organization Justine PETERSEN. <\/p>

Read the article here<\/a>. <\/p>"},"356":{"seqNum":39,"id":356,"title":"Justine Petersen hosts the Aspen Institute’s Scale Academy","longTitle":"{longTitle}","publishDate":"Sep 28, 2010","image":"\/images\/uploads\/Aspen10.09570_.png","videoId":"","content":"

On September 28 - October 2, 2009, Justine Petersen hosts the Aspen Institute's Scale Academy<\/a>.<\/p>

In the photo: Left to Right: Robert Boyle, Tamra Thetford, Joyce Klein, Elaine Edgecomb and Sheri Flanigan-Vazquez.<\/p>"},"322":{"seqNum":40,"id":322,"title":"Justine PETERSEN Quoted in Bloomberg","longTitle":"{longTitle}","publishDate":"Sep 16, 2010","image":"\/images\/uploads\/JPLogo_news_5703.png","videoId":"","content":"

Small Business Can’t Get Loans From Bailed-Out Banks in U.S.<\/strong>
By Bob Ivry , Bloomberg<\/p>

Chip Besse figured he could hire a dozen people once he got a $1.1 million small-business loan.<\/p>

Wells Fargo & Co. turned him down.<\/p>

U.S. taxpayers helped the San Francisco-based bank weather the 2008 financial crisis with a $25 billion loan and $9.5 billion of debt guarantees. By July 2009, when Besse wanted to buy and expand a Colorado snowmobile-rental business, Wells Fargo wasn’t sharing the wealth, he said.<\/p>

Continue reading the article here<\/a>. <\/p>"},"323":{"seqNum":41,"id":323,"title":"Justine PETERSEN Quoted in Wallet Pop","longTitle":"{longTitle}","publishDate":"Aug 27, 2010","image":"\/images\/uploads\/news-WalletPop570.png","videoId":"","content":"

Strategies to pay off that credit card debt once and for all<\/strong>
By Geoff Williams, WalletPop<\/p>

While most of the economic news out there isn't too encouraging, here's something positive to think about: The amount of debt Americans owe on their credit cards is dropping. Read the article here<\/a>.<\/p>"},"324":{"seqNum":42,"id":324,"title":"Justine PETERSEN Op-Ed in St. Louis American","longTitle":"{longTitle}","publishDate":"Aug 26, 2010","image":"\/images\/uploads\/JPLogo_news_5701.png","videoId":"","content":"

High Credit Scores are Good Business<\/strong>
By Robert Boyle and Eddie Davis, Op-Ed<\/p>

The U.S. Census Bureau recently reported encouraging news about one segment of the nation’s economy: the number of minority-owned businesses is increasing at unprecedented rates; and more minorities own their own companies than ever before. Read the article here<\/a>. <\/p>"},"325":{"seqNum":43,"id":325,"title":"Justine PETERSEN Op-Ed in St. Louis Post Dispatch","longTitle":"{longTitle}","publishDate":"Aug 24, 2010","image":"\/images\/uploads\/JPLogo_news_570.png","videoId":"","content":"

Minority-owned enterprises are growing quickly, but they need more access to credit<\/strong>
By Robert Boyle and Eddie Davis, Op-Ed<\/p>

The U.S. Census Bureau recently reported encouraging news about one segment of the nation's economy: The number of minority-owned businesses is increasing at unprecedented rates, and more minorities own their own companies than ever before. Yet, despite these signs of development, the bureau's findings also revealed a shocking disparity in racial economic equality: White-owned companies outnumber minority-owned businesses by almost four to one.<\/p>

According to the research, the economic influence of minority companies lags far behind those owned by whites. For example, sales at minority-owned companies made up barely 3 percent of all business receipts.<\/p>

This disparity has its roots in the issue of the "unbanked" and "underbanked." According to research from the Federal Deposit Insurance Corporation, at least 9 million U.S. households are unbanked, meaning they have no checking or savings accounts and no access to mainstream financial services. Similarly, roughly 21 million, or 18 percent, of all households in the United States are underbanked, meaning they have limited or sporadic access to mainstream financial services.<\/p>

Continue reading the article here<\/a>. <\/p>"},"327":{"seqNum":44,"id":327,"title":"Justine PETERSEN in the Chronicle of Philanthropy’s Philanthropy Today Blog","longTitle":"{longTitle}","publishDate":"Jul 29, 2010","image":"\/images\/uploads\/JPLogo_news_57011.png","videoId":"","content":"

Nonprofit Microlenders See Growing U.S. Demand<\/strong><\/p>

As credit extended to small businesses by conventional banks remains tight in the wake of the global financial crisis, nonprofit microlenders are seeing a jump in demand for their services among Americans, writes The New York Times.<\/p>

Microfinance, which involves lending small sums to beginning entrepreneurs, has gained popularity as a means to nurture the economic health of developing countries. Kiva.org, an international microlender, has recently started a pilot program to lend to business owners in the United States, while the Grameen Bank, the microlending pioneer with headquarters in Bangladesh, has also broadened its scope to include U.S. work.<\/p>

Continue reading the article here<\/a>. <\/p>"},"328":{"seqNum":45,"id":328,"title":"Justine PETERSEN In The New York Times","longTitle":"{longTitle}","publishDate":"Jul 28, 2010","image":"\/images\/uploads\/JPLogo_news_5704.png","videoId":"","content":"

With Squeeze on Credit, Microlending Blossoms<\/strong>
By Kristina Shevory, The New York Times<\/p>

Amanda Keppert is convinced that she would have lost Mandy’s Korner, her hot dog stand in San Jose, Calif., if she had not received a type of loan that is more common in the third world than in the United States. <\/p>

Last year, as fewer people ate out and layoffs mounted in Silicon Valley, sales plunged more than 60 percent at the once-thriving Mandy’s Korner. “My business was drowning and I was afraid it would go under,” Ms. Keppert said. While she picked up catering work at a local concert site, it wasn’t enough to pay her expenses. She had invested all of her savings in the business, and she did not want to see it go under.<\/p>

Continue reading the article here<\/a>. <\/p>"},"329":{"seqNum":46,"id":329,"title":"Justine PETERSEN Client - Joe Jackson in the Wall Street Journal","longTitle":"{longTitle}","publishDate":"Jul 22, 2010","image":"\/images\/uploads\/joe_jackson570.jpg","videoId":"","content":"

Collateral Damage in Lending<\/strong><\/p>

By Emily Maltby, The Wall Street Journal<\/p>

Behind the credit squeeze on small business lies the collateral gap.<\/p>

Many small businesses, thwarted in efforts to get loans, are saying it takes money to get money. That's because property and equipment assets have fallen in value, so businesses seeking loans are being asked for alternative collateral, often in the form of cash so that the loan is backed in case the borrower defaults. Read the article here<\/a>. <\/p>"},"330":{"seqNum":47,"id":330,"title":"Justine Petersen in Creditcards.com","longTitle":"{longTitle}","publishDate":"Jul 12, 2010","image":"\/images\/uploads\/JPLogo_news_570.png","videoId":"","content":"

How to Get a Credit Card if You Have Bad Credit<\/strong>
By Tamara E. Holmes, CreditCards.com<\/p>

No one wants to have bad credit, but with the record job losses, foreclosures and credit card defaults of the past couple of years, more people are finding themselves with less-than-stellar credit scores these days. But there's good news for those with scores in the 600s or below who still need a credit card whether for emergencies or just to rent a car: Life -- and access to credit -- still goes on. Read the article here<\/a>. <\/p>

Also seen in FoxBusiness.com<\/a>.<\/p>"},"331":{"seqNum":48,"id":331,"title":"Justine PETERSEN & Client in Small Business Monthly","longTitle":"{longTitle}","publishDate":"Jul 1, 2010","image":"\/images\/uploads\/JPLogo_news_57010.png","videoId":"","content":"

Business Owners Feeling the Credit Crunch Turn to Microlending<\/strong><\/p>

By Julia Paulus<\/p>

When Archilla and Demoris Buford wanted to bring their entrepreneurial dream to life this year, they turned to their bank for a loan. “In the past we had a small real estate business, and we received mortgage loans at our bank before the crash,” says Archilla Buford. Read the article here<\/a>.<\/p>

Company Spotlight: Flora's New Era Salon<\/strong><\/p>

By Julia Paulus<\/p>

Fresh out of cosmetology school, Flora Smooths went to work at another young woman’s salon until one day the business was abruptly shut down. Read the article here<\/a>. <\/p>"},"326":{"seqNum":49,"id":326,"title":"Justine PETERSEN in St. Louis Commerce Magazine","longTitle":"{longTitle}","publishDate":"Jul 1, 2010","image":"\/images\/uploads\/small_business_week570.png","videoId":"","content":"

Small Business Week of Eastern Missouri Honors Local Entrepreneurs<\/p>

Although headlines may lead us to believe otherwise, small business is alive and well in St. Louis as indicated by the record attendance at the 2010 Small Business Week. This annual gathering of business owners from the metropolitan area recognizes local entreprenurs and offers a series of networking events, speakers and seminars designed to support and promote the small business community.<\/p>

Read the article here<\/a>.<\/p>"},"347":{"seqNum":50,"id":347,"title":"Justine PETERSEN In The Wall Street Journal","longTitle":"{longTitle}","publishDate":"Jun 13, 2010","image":"\/images\/uploads\/JPLogo_news_5709.png","videoId":"","content":"

How to Finance a Growing Business By Colleen DeBaise, Wall Street Journal<\/p>

We've looked at how you can get your hands on the cash necessary to start your own business. (See related article, "How to Fund a Start-up") But once you've been operating for a few years, you might need another round of cash—this time to expand or improve your business.<\/p>

For instance, say your home-based business has really taken off. You've hired a few employees, you're regularly meeting with more clients—and now the space in your basement seems pretty tight. You dream of buying or leasing some nice office space, furnishing it to suit your tastes, wiring it for Internet access and installing new equipment.<\/p>

Read the article here<\/a>. <\/p>"},"348":{"seqNum":51,"id":348,"title":"St. Louis’ Urban Mayberry","longTitle":"{longTitle}","publishDate":"Jun 1, 2010","image":"\/images\/uploads\/stlouis_urban_mayberry570.png","videoId":"","content":"

St. Louis' Urban Mayberry: How Some Scrappy Business Owners are Rebuilding a Local Neighborhood with Collaborative Entrepreneurism
By Jeremy Nulik<\/p>

It’s a sunny Cinco de Mayo holiday and thirsty gringos crowd Carniceria Latino Americana’s restaurant patio. An apron clad Minerva Lopez crosses Cherokee Street toward the restaurant waving to a few passersby. She makes her way to the kitchen and begins to direct wait staff and mix drinks.<\/p>

The funny thing is that Lopez does not work there. She is the owner of Gooolll, a soccer and sporting goods store across the street. She locked the front door of her retail business on a holiday that generates foot traffic to serve drinks at a neighboring business owned by her friend Carlos Dominguez.<\/p>

Read the article here<\/a>. <\/p>"},"349":{"seqNum":52,"id":349,"title":"Risk aversion erects barrier to area small businesses","longTitle":"{longTitle}","publishDate":"May 24, 2010","image":"\/images\/uploads\/risk_aversion570.png","videoId":"","content":"

BY TIM LOGAN<\/p>

ST. LOUIS POST-DISPATCH<\/p>

It's not as if no one's trying. When it comes to boosting entrepreneurship, St. Louis is making all sorts of moves.<\/p>

Talk to any local banker or economic development official, and that person will tell you about efforts to help small business. Ask social service agencies, universities, even the unions — they have programs, too.<\/p>

And small-business incubators have popped up like dandelions in recent years, targeting most big counties and everyone from Hispanics to the homeless. St. Louis County alone operates four, with a fifth on the way.<\/p>

Yet for all the effort, the results don't seem to add up. Read the article here<\/a>. <\/p>"},"350":{"seqNum":53,"id":350,"title":"Access To Capital In The Minority Community - A Panel Discussion","longTitle":"{longTitle}","publishDate":"May 10, 2010","image":"\/images\/uploads\/Panel20101.png","videoId":"","content":"

In light of the recent FDIC finding that St. Louis minorities are under-banked, panelists shared approaches and remedies to the challenges facing minority entrepreneurs accessing business capital

Panelists<\/em>
Clifton Berry -President, Berry Advisors, LLC
Eddie Davis -Director, Center For the Acceleration of African American Business
Karen Davis -Midwest Community Affairs Manager, Regions Bank
Jose Ruiz III -Branch Manager, PNC\/National City<\/p>

Facilitated by: Galen Gondolfi -Senior Loan Counselor, Justine PETERSEN

View the Panel<\/em>
PART 1:<\/a> Justine PETERSEN CEO, Robert Boyle, welcomes over 100 people in attendance and Senior Loan Counselor, Galen Gondolfi, introduces distinguished panelists.
PART 2:<\/a> Panelist introduce themselves.
PART 3:<\/a> Eddie Davis gives a historical prospective of access to capital challenges in the minority community of St. Louis, MO.
PART 4:<\/a> Karen Davis, Regions Bank, discusses access to capital issues of women entrepreneurs and the value of nonprofit community partners in assisting minority businesses to broker loans with mainstream financial institutions.
PART 5:<\/a> Clifton Berry describes the difficulties accessing home mortgages in an economic downturn and the need to balance prudent lending with capital access in minority communities.
PART 6:<\/a> Clifton Berry continues discussion.
PART 7:<\/a> Jose Ruiz, National City now a part of PNC Bank, discusses partnership with justine PETERSEN to provide checking accounts to unbanked.
PART 8:<\/a> Eddie Davis, Center for Acceleration of African American Businesses, talks about next steps for increasing minority access to capital. He suggests capitalizing a community loan fund.
PART 9:<\/a> Panel is opened for questions. Jose Ruiz, National City now a part of PNC Bank, responds to issue of financial education in public schools. Clifton Berry addresses federal financial reform. justine PETERSEN CEO, Robert Boyle, discusses the role of CDFIs in increasing access to capital in minority communities.
PART 10:<\/a> Justine PETERSEN CEO, Robert Boyle, discusses risk assessment, target market profile, and alternative loan funds. Clifton Berry defines Target Market. Karen Davis, Regions Bank, describes risk factors considered by banks.
PART 11:<\/a> Panelists respond to a minority woman's concerns about accessing capital to start a cheesecake business. The importance of building good credit is discussed. <\/p>"},"351":{"seqNum":54,"id":351,"title":"The coffee is brewing, along with a financial discussion","longTitle":"{longTitle}","publishDate":"Apr 19, 2010","image":"\/images\/uploads\/financial300litep5701.png","videoId":"","content":"

By Elia Powers, Beacon staff

Inside Urban Studio Café on a warm Thursday night, financial literacy was the topic du jour. Four women gathered near the back of the coffee shop to listen to a presentation from Kristin Schell, a credit building manager with Justine Petersen, a nonprofit that helps low- and moderate-income people with financial planning.<\/p>

Schell, an energetic speaker who regularly gives such talks, took the group through the basics of credit building. She explained what makes up a person’s credit score and urged the women to check their scores often. She covered who can review a credit report, how to access credit and how to build good credit. And she urged the group to pay bills on time, or at least close to it. <\/p>"},"352":{"seqNum":55,"id":352,"title":"St. Louis Microfinance Meeting - Minutes Available","longTitle":"{longTitle}","publishDate":"Jan 28, 2010","image":"\/images\/uploads\/JPLogo_news_5708.png","videoId":"","content":"

Download the meeting minutes. <\/a><\/p>

The next meeting is March 19, 2010 at National City Bank in Kirkwood.<\/p>"},"353":{"seqNum":56,"id":353,"title":"Justine Petersen hosts documentary screening","longTitle":"{longTitle}","publishDate":"Jan 12, 2010","image":"\/images\/uploads\/pursuit-of-the-dream570.png","videoId":"","content":"

Pursuit of the Dream: Building Credit for Life- Annie E. Casey Foundation<\/em><\/p>

The screening was followed by a panel discussion exploring the roles that government and nonprofit leaders can play in helping low-income families build good credit. The documentary is the latest in a series produced by the Annie E. Casey Foundation and highlights how low-income individuals can save money and build up assets.<\/p>

Speakers and panelists include:<\/em><\/p>

State Senator Robin Wright-Jones, D-St. Louis<\/a>
Irene Skricki, Senior Associate, Annie E. Casey Foundation<\/a>
Vikki Frank, Executive Director, Credit Builders Alliance<\/a>
Lewis Roberts, Program Manager, Citi MicroFinance<\/a>
Robert Boyle, CEO and Founder, Justine Petersen<\/p>

View Media Advisory<\/a> and Press Release<\/a><\/p>

View documentary introduction by Irene Skricki<\/a><\/p>

Panel Discussion<\/em><\/p>

Part 1:<\/a> Lewis Roberts, Vikki Frank and State Senator Robin Wright-Jones reflect on the documentary<\/p>

Part 2:<\/a> Vikki Frank moderates questions and comments from audience members, Pam Ross- People's Bank, Dr. Rush Robinson - St. Louis College of Health Careers, Maurice Washington - Better Family Life, Treina Lind - St. Louis Community Credit Union, and Larry Ross - SCORE.<\/p>

Part 3:<\/a> Galen Gondolfi, Senior Loan Counselor, Justine Petersen leads discussion linking documentary to the FDIC finding<\/a> that St. Louis has the highest percentage of un-banked African-Americans. Anitra Nevels, City of East St. Louis and City of St. Louis Alderman Marlene Davis and reflect.<\/p>

Part 4:<\/a> State Senator Robin Wright-Jones leads discussion on relevant legislation.<\/p>

View the documentary, order copies of the DVD and read the discussion guide<\/a>.<\/p>"},"355":{"seqNum":57,"id":355,"title":"Great Rivers Community Capital","longTitle":"{longTitle}","publishDate":"Oct 2, 2009","image":"\/images\/uploads\/Clay10.09_.png","videoId":"","content":"

Justine Petersen's wholly owned Community Development Financial Institution is awarded a $1 million grant from the U.S. Department of Treasury's CDFI Fund<\/a>. <\/p>

In the photo: Congressman Clay congratulates Justine Petersen CEO Robert Boyle and COO Sheri Flanigan-Vazquez on $1 million CDFI Fund Award.<\/p>"},"357":{"seqNum":58,"id":357,"title":"Justine Petersen and St. Peter’s United Church of Christ Justice Ministries","longTitle":"{longTitle}","publishDate":"Sep 17, 2009","image":"\/images\/uploads\/Franklin1570.png","videoId":"","content":"

Justine Petersen and St. Peter's United Church of Christ Justice Ministries<\/a> to help low- to moderate-income entrepreneurs in Franklin County succeed by offering access to funds not otherwise available.<\/p>

In the photo: Justine Petersen CEO Robert Boyle, Rotary International Micro-Finance Chair Eric Park and Pastor Paul Koch launch Franklin County Micro-Enterprise Initiative.<\/p>"},"358":{"seqNum":59,"id":358,"title":"St. Louis Microfinance Network Meeting","longTitle":"{longTitle}","publishDate":"Aug 14, 2009","image":"\/images\/uploads\/JPLogo_news_5707.png","videoId":"","content":"

St. Louis Microfinance Network Meeting<\/p>

View the agenda.<\/a>
View the minutes from the August 14, 2009 meeting.<\/a><\/p>

Mark your calendar for October 16, 2009 8:30-10 am at St. Louis College for Health Careers. <\/p>"},"359":{"seqNum":60,"id":359,"title":"St. Louis Microfinance Network Meeting","longTitle":"{longTitle}","publishDate":"Jun 12, 2009","image":"\/images\/uploads\/JPLogo_news_5706.png","videoId":"","content":"

St. Louis Microfinance Network Meeting<\/p>

View the agenda.<\/a>
View the minutes from the June 12, 2009 meeting.<\/a><\/p>"},"360":{"seqNum":61,"id":360,"title":"Justine Petersen staff partner with Neighbors Assisting Neighbors","longTitle":"{longTitle}","publishDate":"May 12, 2009","image":"\/images\/uploads\/Cleanup570.png","videoId":"","content":"

Justine Petersen staff partner with Neighbors Assisting Neighbors to Clean-up Old North St. Louis.
<\/p>"},"361":{"seqNum":62,"id":361,"title":"Booming Baby Business","longTitle":"{longTitle}","publishDate":"Apr 7, 2009","image":"\/images\/uploads\/khrh8e-412campbell570.png","videoId":"","content":"

The Telegraph, by Fred Pollard<\/p>

Lisa Campbell says her new patented line of Baby Bangs! hairstyles and headbands are for the baby girl who has everything - except hair. <\/p>

"These can be used for fun or fashion," Campbell said. "They are perfect for photo shoots or special occasions. You can see what your baby will look like with different color hair."<\/p>

Campbell says her line is an innovative alternative to bows, Velcro barrettes, oversize headbands, and gaudy embellishments such as feathers, jewels and flowers that can be uncomfortable and even scratch a baby's tender scalp.<\/p>

The Baby Bangs! headband is worn just like a traditional headband, with the baby's real hair - if any - hidden under the unique design and silky artificial locks. Read the article here<\/a>.<\/p>"},"362":{"seqNum":63,"id":362,"title":"Funded: How Local Companies Gained Financing","longTitle":"{longTitle}","publishDate":"Apr 1, 2009","image":"\/images\/uploads\/JPLogo_news_5705.png","videoId":"","content":"

City Art Supply
www.cityartsupply.org<\/a><\/strong><\/p>

Dana Smith, owner<\/p>

Description:<\/strong> An art supply shop in South St. Louis that supplies the basics for artists, from professionals to students to independent artists.<\/p>

Years in business:<\/strong> Opened October 2008<\/p>

Funding vehicle:<\/strong> US Small Business Administration microloan guarantee through Justine Peterson: $10,000.<\/p>

Purpose of the funds<\/strong><\/p>

The money City Art Supply received by working with Justine Peterson allowed the shop to purchase initial inventory and paid for the first couple months of rent. “It got us off the ground,” says Smith. “Now we are paying shop bills with shop money.”<\/p>

Read the article here<\/a>. <\/p>"}},"blogs":{"483":{"seqNum":1,"id":483,"title":"In Today’s Economy, a Good Credit Score May Be a Business Owner’s Most Important Asset","longTitle":"{longTitle}","publishDate":"Sep 28, 2011","image":"\/images\/uploads\/FIELD_thumb.jpg","videoId":"","content":"

By Elaine Edgcomb, Director, Aspen Institute Microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination (FIELD),<\/em> in HUFFINGTON POST<\/p>

You've probably heard about the importance of a good credit score -- it opens access to affordable mortgages, auto loans and reasonably priced credit, but it could also help to secure a job, buy a cell phone or establish utilities without paying a hefty deposit. And a low credit score will cost you. People with a weak credit rating will pay approximately<\/a> $250,000 more in interest throughout their working lives than those with stronger scores. For entrepreneurs, that quarter of a million dollars could go a long way towards building assets, starting or growing a company, and creating jobs. Going from a weak to a good score can be one of the biggest hurdles that entrepreneurs are facing in today's economy.<\/p>

The goal of microlenders has always been to work with disadvantaged entrepreneurs. But that group has grown in the wake of the financial crisis, making the work of these nonprofit organizations even harder. Clients who had promising businesses and decent credit scores in the past have now been walking in the door with credit blemishes or more complicated financial pictures -- and those are the clients who at least have some credit history to draw upon. The pool of clients who don't have any credit profile has also expanded. These complicated situations have made it ever more difficult for organizations to service these customers with their own typical loan products (or refer them to partners).<\/p>

In reaction to this trend, FIELD at the Aspen Institute<\/a><\/font> teamed up with Citi Foundation<\/a> to launch a pilot targeting these customers in its Asset Building through Credit<\/a> pilot program. The national program is working with five microenterprise organizations to provide financial education and credit coaching in combination with a secured credit card to boost the scores of entrepreneurs and get them on track to growing their business. The program has its roots in research that indicates <\/a>that pairing financial education with the responsible use of a credit product more often results in longer lasting behavior change and financial capability<\/a>. <\/p>

Here's a typical scenario in the Asset Building through Credit program: a barber shop owner from East St. Louis had a credit score that was too low to qualify for a typical microloan from nonprofit provider justine PETERSEN<\/a>. The organization guided him to its credit coaching program, and provided him an action plan to boost his score, while also giving him a secured credit card. Over the course of 16 months and the completion of this action plan, the business owner not only qualified for a microloan to invest in his small business but also raised his score by 82 points.<\/p>

That's just one example, and we're hopeful that this pilot program can affect many more. Given the uncertain economic outlook and the continued decline of once dependable assets like a home, a good credit score might just be the most important asset to acquire and protect.<\/p>

Click here<\/a> to link to the blog.<\/p>"},"363":{"seqNum":2,"id":363,"title":"The New Marketplace of Financial Capability","longTitle":"{longTitle}","publishDate":"May 20, 2011","image":"\/images\/uploads\/JPLogo_news_5706.png","videoId":"","content":"

New website. New blog. New ways of thinking. Justine PETERSEN welcomes you to our New Marketplace of Financial Capability. At Justine PETERSEN we partner with mainstream financial institutions in order to create an affable and effective delivery system for products and services. Case in point is our Banamex USA Secured Card through Citi. This innovative partnership pairs our community-based nonprofit with the resources of Citi to provide a product delivery system where our customers receive one-on-one coaching in relation to opening and managing a secured credit card. The end result is higher credit scores and financially empowered individuals.<\/p>

The new paradigm of financial capability matches customers with outcome-oriented products and services. Financial capability transcends the classroom of financial literacy and positions the customer in the marketplace, equipping him or her with the necessary decision-making finesse to make responsible and rewarding financial decisions and purchases.<\/p>

Welcome to our New Marketplace of Financial Capability. We are open for business.<\/p>"}},"videos":{"490":{"seqNum":1,"id":490,"title":"JP Micro-Borrower: La Mancha Coffeehouse","longTitle":"{longTitle}","publishDate":"Dec 19, 2011","image":"\/images\/uploads\/store_front2_thumb.JPG","videoId":"UMHEi8DJ2uI","content":"

Veronica, JP micro-borrower and owner of La Mancha Coffeehouse, speaks to the role of La Mancha in the Old North neighborhood.<\/p>"},"484":{"seqNum":2,"id":484,"title":"Chicago Credit Building Coalition","longTitle":"{longTitle}","publishDate":"Sep 28, 2011","image":"\/images\/uploads\/Chicago_Credit_Building_Coalition_thumb.jpg","videoId":"WA1ks403evg","content":"

Justine PETERSEN and Credit Builders Alliance are supporting partners in the Chicago Credit Building Coalition (CCBC). The CCBC is a group of 11 local Chicago non profits and Citi businesses (Citi Community Development, Citi Microfinance and Banamex USA) that will work to expand financial inclusion for low- and moderate-income residents in the Chicago area through credit building programs and financial education and coaching. As part of the program, Citi is providing clients access to a secured or unsecured credit card to help individuals build their credit history. <\/font><\/p>"},"481":{"seqNum":3,"id":481,"title":"Justine PETERSEN featured on STL TV’s City Corner program","longTitle":"{longTitle}","publishDate":"Sep 23, 2011","image":"\/images\/uploads\/City_Corner----1_thumb.JPG","videoId":"qTOrp2qZXzY","content":"

Chonda DeBoise and Galen Gondolfi of Justine PETERSEN discuss JP’s products and services on STL TV’s City Corner program hosted by Steve Potter.<\/p>"},"469":{"seqNum":4,"id":469,"title":"Financial Capability","longTitle":"{longTitle}","publishDate":"Jul 3, 2011","image":"\/images\/uploads\/Aspen_Box480.jpg","videoId":"Z94jEDVP1Ro","content":"

Galen Gondolfi uses hair as a metaphor to discuss the differences between financial capability and financial literacy; credit repair and credit building. He describes JP services to the Aspen Institute FIELD grantees of the Credit Building as Asset Building program.<\/p>"},"369":{"seqNum":5,"id":369,"title":"Alex Fennoy, Midwest Bankcentre, talks about partnerships","longTitle":"{longTitle}","publishDate":"May 10, 2011","image":"\/images\/uploads\/midwest_bankcentre570.jpg","videoId":"zm5sIuDUKZM","content":"

Alex Fennoy discusses Midwest Bankcentre bank branch expansion, $250,000 investment into a Justine PETERSEN micro-loan fund and their signature product: the Affordable Home Improvement Loan.<\/p>"},"368":{"seqNum":6,"id":368,"title":"Rob Schwartz, TheBank of Edwardsville discuss products for underbanked","longTitle":"{longTitle}","publishDate":"May 10, 2011","image":"\/images\/uploads\/Bank_Edwardsville570.jpg","videoId":"XJ4XigSeZwM","content":"

Rob Schwartz, The Bank of Edwardsville, talks about products for the under- and unbanked such as "Start Fresh" checking, Small Loan Product and the Micro-Loan Program in partnership with the Madison County Treasurer's Office and Justine PETERSEN.<\/p>"},"367":{"seqNum":7,"id":367,"title":"Tasha Pettis-Bond, PNC Bank, participates in Justine PETERSEN panel","longTitle":"{longTitle}","publishDate":"May 10, 2011","image":"\/images\/uploads\/pnc_bank570.jpg","videoId":"Xrzmxmj44d4","content":"

Tasha Pettis-Bond, PNC Bank, discusses bank branch at Page & Grand, seminars as an outreach and education strategy and the Foundations checking account.<\/p>"},"366":{"seqNum":8,"id":366,"title":"Family Financial Fitness Fair","longTitle":"{longTitle}","publishDate":"Apr 5, 2011","image":"\/images\/uploads\/family_fitness570.jpg","videoId":"udTNYtyhUN8","content":"

On April 2, Justine PETERSEN kicked off Money Smart Week Illinois in East St. Louis. Enjoy the fabulous St. Louis Drum Line and a reading of the Berenstein Bear's "Dollars & Sense" by East St. Louis Mayor Parks. Special thanks to event sponsors State of IL Treasurer Dan Rutherford, PNC Bank and Country Financial.<\/p>"},"345":{"seqNum":9,"id":345,"title":"Credit is an Asset","longTitle":"{longTitle}","publishDate":"Apr 30, 2011","image":"\/images\/uploads\/credit_is_asset570.jpg","videoId":"Q1H6dMvz36I","content":"

Justine PETERSEN has a unique philosophy that Credit is an Asset. Discover how to build good credit!<\/p>"},"344":{"seqNum":10,"id":344,"title":"Lewis Roberts, Citi Microfinance, discusses focus and partnerships","longTitle":"{longTitle}","publishDate":"May 10, 2011","image":"\/images\/uploads\/lewis_roberts_citi_microfinance570.jpg","videoId":"xm3B6Bz-rSk","content":"

Lewis Roberts discusses the purpose and focus of Citi Microfinance, including remittance, savings and credit. He talks about Credit as an Asset and the Secured Credit Card Initiative with Justine PETERSEN.<\/p>"}}}, vals : { maxInitialFeatureTextH : '150' }, page : null, button : null, currentViewState : 'news', // video | news | blog init : function() { var me = this; me.page = { wrapper : $('#news'), newsRight : $('#news-right'), rightPreviewNews : $('#news-right-news'), rightPreviewVideo : $('#news-right-video'), rightPreviewBlog : $('#news-right-blog'), leftHeaderNews : $('#news-left-header-news'), leftHeaderVideo : $('#news-left-header-video'), leftHeaderBlog : $('#news-left-header-blog'), featureMedia : $('#news-media'), featureTitle : $('#news-title'), featureDate : $('#news-date'), featureText : $('#news-text'), featureTextInner : $('#news-text-inner'), featurePreviews : $('#news-previews'), featurePreviewsWrapper : $('#news-previews-wrapper') }; me.button = { featureReadMore : $('#news-read-more'), featurePreviewsMore : $('.feature-previews-more') }; me.button.featureReadMore.click(function () { me.expandFullContent($(this), me.page.featureText, me.page.featureTextInner); }); me.button.featurePreviewsMore.click(function () {me.expandFeatureWrapper($(this));}); me.loadInitialItem(); }, expandFeatureWrapper : function(button) { var wrapper = button.parent('.feature-previews'); var outer = wrapper.find('.feature-previews-outer'); var inner = wrapper.find('.feature-previews-inner'); this.expandFullContent(button,outer,inner); }, expandFullContent : function(button, outer, inner) { var newH = inner.height(); outer.animate({'height': newH+'px'}, 800, function() {$(this).css('height','auto');}); button.addClass('invisible'); }, // loads the initial item upon initialization loadInitialItem : function() { // load first video var items; if (this.currentViewState === 'news') {items = this.data.news} if (this.currentViewState === 'video') {items = this.data.video} if (this.currentViewState === 'blog') {items = this.data.blog} this.loadItem(this.getFirstInArray(items)); this.initViewState(); //this.page.featurePreviews.html(''); //this.page.featurePreviewsWrapper.css('height','auto'); //this.loadVideoThumbnails(); }, // we're requiring seqNum to be 1. we'll return that getFirstInArray : function(array) { for(var id in array) { var o = array[id]; if (o && o.seqNum === 1) return o; } return null; }, // initialize everything except for the main item to feature and display. This mainly includes // the preview areas initViewState : function () { var me = this; var featurePreview = null; me.page.leftHeaderNews.hide(); me.page.leftHeaderVideo.hide(); me.page.leftHeaderBlog.hide(); me.page.rightPreviewNews.show(); me.page.rightPreviewVideo.show(); me.page.rightPreviewBlog.show(); // hide the priview for respective type and grab feature preview we're showing switch (me.currentViewState) { case "video": me.page.rightPreviewVideo.hide(); me.page.leftHeaderVideo.show(); featurePreview = $('#feature-previews-video'); break; case "news": me.page.rightPreviewNews.hide(); me.page.leftHeaderNews.show(); featurePreview = $('#feature-previews-news'); break; case "blog": me.page.rightPreviewBlog.hide(); me.page.leftHeaderBlog.show(); featurePreview = $('#feature-previews-blog'); break; } $('.feature-previews').hide(); $('.feature-previews-outer').css('height','auto'); $('.feature-previews-more').removeClass('invisible'); if (featurePreview) { var inner = featurePreview.find('.feature-previews-inner'); var outer = featurePreview.find('.feature-previews-outer'); var initial = featurePreview.find('.feature-previews-initial'); featurePreview.show(); outer.css('height', initial.outerHeight(true)+'px'); } }, loadVideoThumbnails : function() { var me = this; me.button.featurePreviewsMore.removeClass('invisible'); var count = 0; for(var id in this.data.videos) { // set fixed height after 3 me.addVideoThumbnail(id,this.data.videos[id]); if(count++ == 2) { me.page.featurePreviewsWrapper.css('height', me.page.featurePreviews.outerHeight(true)+'px'); } } }, addVideoThumbnail : function(id,video) { var onClick = 'onclick="JustinePetersen.News.changeVideo('+id+')"'; var preview = $('

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