Meet the people behind Community Development Banking’s investments

Side note:

Soft music plays.

Text on screen:
George Ashton the Third. Helping Diverse Businesses Scale.

Logos:
 - J.P. Morgan;
 - Chase;
 - and the Chase octagon symbol.

On screen:

A man with short hair, brown eyes, and wearing a business suit, George Ashton the Third.

Text on screen:

George Ashton the Third, President, LISC Fund Management.

George:

It was difficult as a youth growing up in a mostly white affluent neighborhood, as the only Black child in the Little League or in your school.

On screen:

A photo shows Mr. Ashton, as a child, holding baseball trophies.

George:

But that difficulty forced me to figure out where the commonalities were. It also made me sort of an arbiter between communities. While it was a really challenging time, being either too Black for certain situations or too white for other situations…

On screen:

A photo montage shows Mr. Ashton, as a young man: 

-  with a group of friends; 

- running on an outdoor track; 

- playing golf; 

- (and) wearing a suit jacket, smiling.

George:

…it was an uncomfortableness that really ultimately benefited me in the way that I look at the world and the perspectives I have, but also the empathy that I can bring to understanding the challenges of different experiences across the country.

On screen:

Photographs show Mr. Ashton standing with colleagues at different conventions and seminars across the country, including one in Washington D.C.

Text on screen:

When Ashton started raising capital for his first business, the racial wealth gap was undeniable.

George:

As I think back to building my career, I think back to how hard it was to start a business for myself. My access to capital was actually not as strong as my business partner’s who came from a lower-income background but had connections through his community.

On screen:

Photos show Mr. Ashton with his business partner, a White man with brown eyes.

George:

So, when both of us tries to raise capital from our networks and I came up with very little, he came up with a whole lot more. And I was like, “Wow.” This racial inequity, when it comes to network wealth, is a real thing. And what does that mean for your ability to start a business?

On screen:

A montage shows Mr. Ashton walking through an office building, speaking with a LISC funding recipient, a woman who has dark pulled-back hair and glasses.

Text on screen:

Artura Taylor, President and CEO, TDG Scientific.George:It’s really been incredibly rewarding to talk with somebody who has been in a business for four or five years, has found different ways to scrape by, deserves to get a chance to expand that business, to hire more people, create jobs in the community, fulfill their dreams…

On screen:

Mr. Ashton meets with Ms. Taylor In an office with wall-sized windows overlooking a city.

George:

…and to be able to provide them that capital is the most powerful part of being in this profession. Changing their lives, but also potentially affecting the lives of their next generations, so that we could not only provide solutions, but provide solutions at scale that actually might create a tipping point.

Text on screen:

In his role at LISC Fund Management, Ashton helps entrepreneurs access the capital they need to take their businesses to the next level.

George:

The awesome thing about LISC is it at the same time has this national perspective on solutions for communities, but also has folks in communities (38 of them all over the country) that can give you real context for the actual challenges and how they manifest in those particular communities.

On screen:

A montage of photos and videos show Mr. Ashton wearing a hardhat marked "LISC Strategic Investments," at a podium during a LISC-sponsored event, attending a meeting in a conference room, and visiting different small businesses.

George:

One of the thematic challenges we see for BIPOC businesses is the need for working capital.

Text on screen:

BIPOC - Black, Indigenous, and people of color.

George:

And an example that comes to mind is a printing company in Kalamazoo, Michigan where there’s an employee that’s been at the company for a really long time, has been in a leadership role at that company.

On screen:

A montage shows a man with short hair, a thin mustache, and glasses, Sean Hollins. Mr. Hollins walks through a printing shop, reviews recently-completed printing jobs, and works on his office computer.

Text on screen:

Sean Hollins, Owner, R.J.s' Printing.

George:

The owner is looking to transition the business. The employee (who’s a BIPOC employee) just needs some capital to basically be able to buy the building and the business from the existing owner.

On screen:

In an office, Mr. Hollins meets with a Senior Program Officer of the Local Initiatives Support Corporation.

George:

So again, the concept of someone who’s gone 90% of the way, in terms of setting the business up and preparing themselves for success, just needs 10% more – this capital – to get them over the hump. And so hopefully, the capital that we put in these communities means in a generation or two, more people are at that point where they can really follow their dreams.

On screen:

Mr. Ashton smiles, standing outside on a wide city avenue.

Text on screen:

George Ashton the Third. Helping Diverse Businesses Scale.

Logos:
 - J.P. Morgan;
 - Chase;
 - and the Chase octagon symbol.

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here.  You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization. 

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This Information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such. 

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material. 

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures. 

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation. 

JPMorgan Chase Bank, N.A. Member FDIC.

END

Side note:

Soft music plays.

Text on screen:
Artura Taylor. Building an inclusive industry-leading workplace.

Logos:
 - J.P. Morgan;
 - Chase;
 - and the Chase octagon symbol.

On screen:

A woman with pulled-back hair and glasses, Artura Taylor.

Text on screen:
Artura Taylor, President and CEO, TDG Scientific.

Artura:

In 2004, we semi-retired. We invested heavily into a real estate portfolio.

On screen:

A montage shows Ms. Taylor walking up a flight of stairs and into her home office.

Artura:

But the economic downturn in 2008 would be so severe that it would thrust us back into the workforce and into the throws of entrepreneurship.

Text on screen:
Taylor left retirement in 2009 and launched TDG Scientific to help companies source lab equipment, chemicals, and supplies.

Artura:

Our secret sauce had to be to develop a business model that would allow us to build relationship and strategic partnerships direct with manufacturers.

On screen:

Framed magazine articles show photos of Ms. Taylor, and headlines reading: "Artura Taylor - Bringing Determination to Distribution" and "Age is a Major Asset."

Artura:

That offers us unlimited capacity to aggregate spend, access to millions of products across all categories and lines.

On screen:

A montage shows Ms. Taylor at her large desk, working on a dual-monitor computer.

Artura:

It also allows us to get the most competitive pricing.

Text on screen:
TDG's team has worked remotely for more than a decade. Taylor saw that remote work offered an inclusive environment and expanded her pool of job candidates.

Artura:

You get a really, really energized team, as such that we have.

On screen:

Using her computer, Ms. Taylor attends a remote conference call, with seven other virtual participants.

Artura:

In addition to that, part of our premise was is to allow mothers who want to work from home, who are able to be home to raise their children, as such that I have now, being the custodial parent for my 8-year-old grandson.

On screen:

A montage shows Ms. Taylor with her grandson, who wears a small lab coat and uses a children's chemistry set.

Artura:

He’s an aspiring little scientist, he loves chemistry. So who knows? One day this may be his legacy.

Text on screen:
Funding from the Local Initiatives Support Corporation (LISC) helped Taylor grow TGD's team and upgrade its technology.

Artura:

It has afforded us the opportunity to increase our staff from 8 full-time to 13. It doubled the size of our bid department. That attributes to our internal, organic growth.

On screen:

In an office with wall-sized windows overlooking a city, Ms. Taylor meets with a dark-haired executive, wearing a blue blazer, George Ashton III.

Text on screen:
George Ashton III, President, LISC Fund Management.

Artura:

I think it’s just by far one of the most phenomenal opportunities that we’ve had in a lifetime. And we’re hopeful that the visibility this came from this will be able to impact other small businesses as well.

On screen:

A montage shows an aerial view of a tree-lined suburban neighborhood, Ms. Taylor standing in front of her large brick-and-stone house, and Ms. Taylor standing with Mr. Ashton in a roomy, contemporary-style lobby.

Text on screen:
Artura Taylor. Building an inclusive industry-leading workplace.

Logos:
 - J.P. Morgan;
 - Chase;
 - and the Chase octagon symbol.

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here.  You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization.

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This Information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such.

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material.

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures.

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation.

JPMorgan Chase Bank, N.A. Member FDIC.

Copyright 2023 JPMorgan Chase and Company. All rights reserved.

END

Side note:

Soft music plays.

Text on screen:
Sean Hollins. Printing Progress.

Logos:
 - J.P. Morgan;
 - Chase;
 - and the Chase octagon symbol.

Text on screen:
After graduating art school in Chicago, Hollins answered an interesting job posting at a printing company.

On screen:

A man with short hair, a thin mustache, and glasses, Sean Hollins.

Text on screen:
Sean Hollins, Owner, R.J.'s Printing.

Sean:

I answered an ad in the paper for a janitor with Macintosh experience, which was totally weird. And was a janitor for about five months, and from there went towards making mash prints to scanning, to running some of the automated equipment there.

On screen:

A montage shows Mr. Hollins and one of his employees using equipment in a printing shop.

Sean:

I worked there for five years and after leaving there, I was like, “I think I can start my own business and called it Fortitude Graphic Design & Printing.

On screen:

In his office, Mr. Hollins uses a telephone...and then reviews a graphic design on his dual-monitor computer.

Sean:

That's when Ralph and I, kind of paths interacted.

Text on screen:
Ralph became a very close business partner and friend. After 27 years in printing, Ralph was ready to sell his company and he knew just the person.

Sean:

Ralph had never sold a business and I never bought a business. So it was new on both of our ends as far as what we needed to have in place to make this happen.

On screen:

A montage shows Mr. Hollins, and a female colleague with black hair, walking through a workspace with different printing machines.

Sean:

It was some challenges that I had to kind of overcome.

On screen:

Mr. Hollins uses his computer mouse and then jots down notes on a pad with a logo reading, "R.J.'s Printing."

Sean:

I didn't think it was attainable; everything had stopped. Who's going to be funding a project such as this during COVID? I was put in contact with Sonja Dean. They were able to connect the dots and we were able to get the job done.

On screen:

In his office, Mr. Hollins meets with a woman who has long brown hair and glasses.

Text on screen:
Sonja Dean, Senior Program Officer, Local Initiatives Support Corporation.

Local Initiatives Support Corporation stepped in to help Hollins purchase R.J.'s Printing from Ralph Jones.

Sean:

He was very passionate about making sure that his staff was gonna have a solid home. That was the first thing that we agreed upon and it was an easy agreement because the staff is great.

On screen:

A photo shows Ralph Jones surrounded by his staff and their families, all with shirts showing their name. A video clip shows Mr. Hollins and one of his staff reviewing a computer screen in a small office.

Sean:

My intent is to grow it so that everybody here continues to eat, everybody here continues to have upward mobility and not just the owner. I think that that is going to be important for our community.

On screen:

An aerial view shows Hollin's printing company, with seven cars parked outside of it. Mr. Hollins, Ms. Dean, and a staff member stand outside the building which displays a large sign reading R.J.'s Printing - Printing Solutions and Creative Designs.

Sean:

I don't think I want to be the best business in the community; I want to be the best business for the community.

On screen:

Mr. Hollins stands near a sign, displaying R.J. Printing's logo and phone number.

Text on screen:
Sean Hollins. Printing Progress.

Logos:
- J.P. Morgan;
- Chase;
- and the Chase octagon symbol.

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization.

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This Information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such.

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material.

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures.

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation.

JPMorgan Chase Bank, N.A. Member FDIC.

Copyright 2023 JPMorgan Chase and Company. All rights reserved.

END

Side note:

Soft music plays.

Text on screen:
Sonja Dean. Helping Businesses Achieve Their Dreams.

Logos:
 - J.P. Morgan;
 - Chase;
 - and the Chase octagon symbol.

Text on screen:
As a manager at Local Initiatives Support Corporation (LISC), Dean helps small business owners access the knowledge and capital they need to thrive.

On screen:

A woman with long brown hair and glasses, Sonja Dean.

Text on screen:
Sonja Dean, Senior Program Officer, LISC

Sonja:

I met Sean about three years ago as he was journeying into deciding to be an entrepreneur to buy RJ’s Printing.

On screen:

A montage shows Ms. Dean, in an office, meeting with Sean (a man with short hair, a thin mustache, and glasses).

Sonja:

He called me fairly early on in his process and we really kind of built a relationship to determine what he needed to do in order to be ready to borrow money from LISC, and to connect him to all the resources he needed to wrap around him as a business owner…

On screen:

In his office, Sean jots down notes on a pad, uses a telephone, and reviews a graphic design on his dual-monitor computer.

Sonja:

…and to really help him take all of the steps that he needed to, to get to an acquisition.

On screen:

LISC's small business initiatives tackle racial wealth disparity head-on.

Sonja:

There is a great disparity between white-owned businesses and Black-owned businesses in terms of their access to resources to help them grow and to build their dream and to build their family wealth.

On screen:

A montage shows Ms. Dean and Sean shaking hands after a productive meeting and looking over stacks of newly-printed, binded  documents

Sonja:

And LISC works to bridge those disparities.

On screen:

A montage shows Sean giving Ms. Dean a tour of his printing company and working with young staff members using printing equipment.

Sonja:

My hope for Sean is that he gets to live into his vision to grow this business. I'm so excited for the work that he's doing to expand out into the community and to work with youth to help build that next generation of leaders, and learning a trade and to hopefully someday own their own business, if that is their dream.

On screen:

Ms. Dean, Sean, and a staff member stand inside R.J.'s Printing, near a sign, displaying the company's logo and phone number.

Text on screen:
Sonja Dean. Helping Businesses Achieve Their Dreams.

Logos:
- J.P. Morgan;
- Chase;
- and the Chase octagon symbol.

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here.  You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization.

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This Information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such.

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material.

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures.

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation.

JPMorgan Chase Bank, N.A. Member FDIC.

END

Side note:

Soft piano music plays.

Text on screen:

Logos:

J.P.Morgan. Chase.

Text on screen:

Tom Espinoza, Co-Founder, Raza Development Fund.

Driving Community Change.

On screen:

A man with silver hair, brown eyes, and a thin mustache, Tom Espinoza, speaks from his office.

Text on screen:

Tom Espinoza, Co-Founder, Raza Development Fund.

Tom:

My father was discriminated against by a fairly large utility company here in Arizona. And I saw Dad suffer through trying to become a foreman.

On screen:

Two family photos show Mr. Espinoza's father as a young man standing with his wife and baby and standing with his mother, wife, and three children.

Tom:

They couldn't get his position because of who and what his ethnic background was. So I promised myself that I would be part of that change, that I would in fact be an activist.

Text on screen:

As an activist, Espinoza worked as a youth organizer. Then he joined Chicanos Por La Causa (CPLC) to help Hispanic and Latino families access affordable housing. As president and CEO, he grew CPLC from a small operation to a dynamic organization with a ten million dollar yearly budget serving Hispanic and Latinos in Arizona's major cities.

Tom:

I also learned during that process that it's not just about the structures, it's not just about the houses.

On screen:

Photos show Mr. Espinoza as a younger man (with black hair and a thick mustache). Espinoza reviews documents, stands with a group of activists (many wearing hard hats), and speaks with community organizers.

Tom:

What is the impact on the family that you're helping? What are their challenges and how can you help as an organization or as an individual that's involved in community development?

On screen:

Photos show a younger Mr. Espinoza speaking on a telephone by a "CPLC" sign, in a large office with his colleagues (five men and two women), and sharing information with a young couple at their home.

Tom:

It's about having heart and soul in your mission, because if you don't have a sense of the family itself, it's difficult for you to communicate, and more importantly to get their trust because community development is about building trust in the community that you serve.

Side note:

Soft uplifting music plays.On screen:A montage showss Mr. Espinoza, as a mature man, meeting with community members in their homes.

Text on screen:

Working at CPLC also taught him that infusing capital into communities wasn't enough. Espinoza wanted to do more to help families.

On screen:

That's why he and others started Raza Development Fund, a Community Development Financial Institution.

Tom:

We understood it wasn't just about the dollars. Are we truly serving families? Because if you're not, then you're just doing a deal.

On screen:

At a College Prep Academy, diverse students sit together in a classroom with a brightly colored wall-sized mural.

Tom:

We felt that education was going to be key for our community, especially Latinos and African Americans in the country. So we did zero in on learning about charter schools, parochial schools, universities that will serve the poor and serve in communities that were lacking good educational vehicles.

On screen:

A montage shows Mr. Espinoza at Raza Development Fund's headquarters meeting with his executive staff in a conference room, studying paper documents, and speaking about community non-profits using a neighborhood map of Phoenix Arizona.

Tom:

That became, to some degree, our calling card across the country.

On screen:

A framed poster displays a picture of Mr. Espinoza and the text: "Faith, Hope and Love: Our Journey in Community Development."

Tom:

When I think of RDF, I think of all the great people that I've gotten to work with. The energy level and the willingness to work for our community and serve, it's phenomenal.

On screen:

Mr. Espinoza (wearing his ever-present cross on a silver chain) walks through the Raza building. He greets members of the office staff with a warm hug. A man puts his arm around Mr. Espinoza's shoulder. They review information on a computer screen.

Tom:

The other is the thousands and-- I don't know how many families we've touched over the last 23 years, in the community itself.

On screen:

A photo montage shows Mr. Espinoza cheering with the Raza team), meeting with community leaders, speaking at an awards ceremony, and meeting Sandra Day O'Connor.

Tom:

Life is good. God is good. The blessed weather has blessed me with this great opportunity to serve. And I'm just a small piece of it in the scheme of Raza development as a whole.

On screen:

Mr. Espinoza stands with his smiling colleagues at the Raza Development Fund office.

Text on screen:

Tom Espinoza, Co-Founder, Raza Development Fund.

Driving Community Change.

Logos:

J.P.Morgan. Chase.Side note:Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization. 

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such. 

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material. 

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures. 

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation. 

JPMorgan Chase Bank, N.A. Member FDIC.

END

Side note:

Soft uplifting music plays.

Text on screen:

Toni Farmer-Thompson Ph.D., Co-Founder, President, and CEO, Foresight Foundation for Economic Equity.

Increasing capital for Black communities.

Logos:

J.P.Morgan. Chase.

Text on screen:

September 11th, 2001, was a turning point for many Americans, including Toni Farmer-Thompson. That's when she left Wall Street to dedicate her career to closing the racial wealth gap. May 25th 2020 - the date George Floyd was murdered- was also pivotal for Farmer-Thompson. May 25th 1975 was the date her father was killed.

On screen:

A Black woman with long hair and pearl earrings, Toni Farmer-Thompson, speaks from her office.

Text on screen:

Toni Farmer-Thompson Ph.D., Co-Founder, President, and CEO, Foresight Foundation for Economic Equity.

Toni:

I felt like it was God calling me to lean in and engage differently.

Text on screen:

After hearing about Raza Development Fund's work, she became interested in making a similar impact.

Toni:

And I said, “Can we analyze what the greatest, most impactful levers would be if we were going to take on a project and try to have the impact that Raza has? What is it that the Black community would need?”

On screen:

A montage shows Dr. Farmer-Thompson filling out a document while speaking with an associate on her mobile phone.

Text on screen:

She learned that providing capital to Black-owned businesses was the answer. With help from Raza, Farmer-Thompson launched the Foresight Foundation for Economic Equity.

Toni:

You can have a dream, but unless there is someone there to help you execute, it's pretty difficult to get to where you know you need to go.

On screen:

Dr. Farmer-Thompson walks through a hallway, speaking with a leader of Raza, a Community Development Financial Institution.

Toni:

We've been able to obtain grants. We have been able to attract just under 100 businesses.

On screen:

In a spacious conference room, Dr. Farmer-Thompson reviews documents and then shakes hands with Raza Development Fund executives.

Toni:

We have been able to deploy capital already. Through these efforts, we can create a virtuous cycle. We can get capital to these businesses, they can employ more people, they can get greater contracts, they can work with larger businesses. And we as a community can thrive.

On screen:

Dr. Farmer-Thompson smiles warmly.

Text on screen:

Toni Farmer-Thompson Ph.D., Co-Founder, President, and CEO, Foresight Foundation for Economic Equity.

Increasing capital for Black communities.

Logos:

J.P.Morgan. Chase.Side note:Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization. 

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such. 

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material. 

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures. 

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation.

JPMorgan Chase Bank, N.A. Member FDIC.

END

Side note:

Soft piano music plays.

Text on screen:

Melissa McDonald, Chief Operating Officer, Raza Development Fund.

Finding Her Purpose.

Logos:

J.P.Morgan. Chase.

Text on screen:

McDonald's family moved frequently, so she grew up in various countries across North and South America.

On screen:

A woman with long black hair, brown eyes, and glasses, Melissa McDonald, speaks from her office.

Text on screen:

Melissa McDonald, Chief Operating Officer, Raza Development Fund.

Melissa:

Uma was the lady that helped us with the cooking and the house. I think of her often as my second mom. She taught us so much.

On screen:

Family photos show Ms. McDonald as a little girl holding a balloon, writing on a piece of paper, and smiling for a school picture.

Melissa:

If you have dignity, love, and hope, if you've got those foundations, now how do we come together as one community and help each other and lift each other up? And I am so lucky to have grown up in that way and not even knowing that those were the lessons I was being taught.

Text on screen:

Melissa's career path took her from human resources to law school before she found Raza Development Fund.

Melissa:

I fell in love, with the organization, with the people, and with Tom, really. I got to learn the business from the ground up.

On screen:

A montage shows Ms. McDonald working at Raza Development Fund: attending an executive meeting in a large conference room, speaking with an office worker at her reception desk, and giving a warm hug to the organization's kindly Co-Founder, Tom Espinoza.

Melissa:

The team was so incredibly generous, like teaching me everything.

On screen:

A montage shows Ms. McDonald at a large white board with Mr. Espinoza, a man with silver hair, brown eyes and a mustache. Mr. Espinoza draws on a diagram labeled: "Internal process board report."

Melissa:

And then, I got to go out and visit these projects that we were doing, right? I got to meet with program managers, with the moms and the dads who had the kids at the daycare services, spend a day out there talking to them. When you come back, then you take all of that passion, you take all of that potential, and you apply it to what you learned on the business side. And you get to tell the story of this beautiful community and the organization that makes it work.

On screen:

Ms. McDonald works in her bright, spacious office, typing on her desktop computer. Ms. McDonald and three colleagues attend a meeting in a conference room, displaying religious art on the wall. A large monitor shows virtual meeting participants on a four-way split screen.

Melissa:

It's just amazing to be able to be here and to have witnessed and grow for the last 10 years, see children grow up, be part of the extended family.

On screen:

Ms. McDonald speaks with a smiling woman in an airy comfortable workspace, with potted plants at her computer desk.

Melissa:

This is the future we're investing in. We've seen this time and time and time again. We pretty much get repaid through the life of RDF. We have less than 1% loss rate. Our community, the Latino community, the migrant community, is worth the investment.

On screen:

Ms. McDonald smiles. She stands in front of a wall-sized mural displaying logos for Raza Development Fund and PAZ: Promise Arizona.

Text on screen:

Melissa McDonald, Chief Operating Officer, Raza Development Fund.

Finding Her Purpose.

Logos:

J.P.Morgan. Chase.

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization. 

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such. 

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material. 

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures. 

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation. 

JPMorgan Chase Bank, N.A. Member FDIC.

END

Side note:

Soft guitar music plays.

Text on screen:

Anastacia Europa, Chief Operating Officer, Espiritu Schools.

Educating in the endzone.

Logos:

J.P.Morgan. Chase.

Text on screen:

NFL Youth Education Town College Prep Academy is a charter school focused on developing international servant leaders.

On screen:

A woman with long brown hair and brown eyes, Anastacia Europa, speaks from an office.

Text on screen:

Anastacia Europa, Chief Operating Officer, Espiritu Schools.

Anastacia:

Our school started in the mid-nineties, it was called Esperanza Montessori.

On screen:

A photo shows Esperanza Montessori's spacious white interior with high ceilings and a large reception desk.

Anastacia:

And during that time in South Phoenix, Arizona, there was a lot of violence and gang activity. My father, Armando Ruiz, and Thomas Espinoza, they’re leaders and they knew they had to step up and do something about it.

On screen:

A photo shows Thomas Espinoza and Armando Ruiz at a formal event with other community leaders.Text on screen:As Espinoza and Ruiz worked to make their vision of a servant leadership school a reality, a rare opportunity presented itself.

Anastacia:

Super Bowl 30 was coming to Arizona, and they were putting together youth education towns. Our school applied, Tom helped to champion that.

On screen:

Aerial views show the modern inter-connected buildings and geometric-styled facades of the Youth Education Town complex. It features outdoor parking areas, a building marked "Peggy Ruiz Gymnasium," and a large sign reading "222 - NFL Youth Education Town. Yet." Ms. Europa walks through a Raza Development Fund hallway with Thomas Espinoza, a mature man with salt-and-pepper hair.

Anastacia:

They went before the Super Bowl committee and they were selected. And that's how Esperanza Montessori became NFL Yet College Prep Academy.

On screen:

A sign at the entrance of a contemporary styled white building reads: "NFL Yet College Prep Academy."

Text on screen:

To date, Espiritu Schools has expanded to three schools across two campuses serving more than 1000 students in grades K-12.

Anastacia:

Our school focuses on forming the whole person. We focus on international servant leaders.

On screen:

A hand-written sign reads "Future Servant Leaders!"

Anastacia:

And so every year, we send a group of students to Peru to open their world and opportunities that they wouldn't have otherwise.

On screen:

Images of the ancient ruins of Peru, with spectacular green mountains on the horizon. The students stand together, wearing colorful traditional Peruvian clothing.

Anastacia:

For our students, we believe that they're the masters of their destiny.

On screen:

Nine students sit together in a class with a wall-sized mural, showing a city surrounded by nature. Nine students sit together in a class with a wall-sized mural, showing a city surrounded by nature.

Anastacia:

If we give them tools and the training and the support, they'll go out in the world, they will change their communities, and they will become international servant leaders. And we wouldn't be able to do that without Raza.

On screen:

Ms. Europa smiles, standing in front of the Youth Education Town reception desk. Above her, a large sign reads: "Faith, Hope, (and) Charity."

Text on screen:

Educating in the Endzone - with Anastacia Europa, Chief Operating Officer,  Espiritu Schools.

Logos:

J.P.Morgan. Chase.

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization. 

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such. 

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material. 

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures. 

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation. 

JPMorgan Chase Bank, N.A. Member FDIC.

END

Text on screen:

Creating an Equitable Path Forward - Lori Chatman, President, Capital Division, Enterprise Community Partners.

Logos:

J.P. Morgan. Chase.

Text on screen:

After college, Chatman followed a conventional career path in finance; she moved to New York and got a job on Wall Street. But she wanted to make a bigger impact, so she moved home to the Washington D.C. area and began working at what's now Calvert Impact Capital.

On screen:

A woman with short black hair and brown eyes speaks to us from her office.

Text on screen:

Lori Chatman, President, Capital Division, Enterprise Community Partners.

Lori:

When I moved home, it was there that I got the bug for community development finance. The whole notion around how capital really should deliver social economic and political justice to communities and local government.

On screen:

Ms. Chatman types on her laptop computer.Lori:I had the opportunity to go and visit a community health center. I was immediately taken aback. It was a place that was beyond sad, but it also looked dangerous.

On screen:

Ms. Chatman and a colleague walk through an urban neighborhood with large iron gates surrounding all the buildings and a stark, barren hallway in a community health center.

Text on screen:

She joined Enterprise Community Partners in 2004, becoming president of its Community Development Financial Institution before leading its capital division. Over the years, the Enterprise team innovated to find better ways to serve the community.

Lori:

All of that work, quite frankly, is in support of our three strategic pillars increasing housing supply, advancing racial equity and resiliency and well-being of communities and the residents that live there. We've grown into an organization that really can lead when it comes to the challenges that we see right now in terms of housing and housing affordability.

On screen:

A diverse group of Enterprise Community Partners team members work together in a conference room.

Text on screen:

After getting feedback from their developers, Enterprise started noticing patterns. Housing providers of color face insufficient access to capital.

Lori:

We as an organization have a set of expectations around what your financial status needs to look like. Ignoring factors that I think are more important, quite frankly, to the success of a project than just financial statements. It is your connection to that community; the people who live there.

On screen:

Ms. Chatman walks down a block with a colleague. Managers collaborate at a construction site, where volunteers raise the wooden framework for a wall.

Lori:

In terms of creating community, there does need to be cultural awareness around what are those things that we need to place there for it to be a true community and a home for all people who live there. That's what EPF is about.

On screen: 

A little girl high-fives her parents, on their living room couch.Text on screen:Equitable Path Forward (EPF) is a five-year, $3.5 billion nation-wide initiative to help dismantle the legacy of racism in housing. The initiative has raised $350 million in capital, and leveraged $1.8 billion to date.

Lori:

Enterprise's Equitable Path Forward Initiative is something that I am incredibly excited about. We want to make sure that we have identified key outcomes that we would like to see and that we plan to track and then use the information from that to go and advocate with investors and then ultimately with regulators who often set the stage for those parameters under which investments can be made.

On screen:

Enterprise Community Partners representatives meet with a group of investors in a white modern conference room.

Lori:

We literally have the ability to provide not only all the financing advisory services, but also practical experience.

On screen:

A local business professional meets with a financing advisory specialist in an office with large windows overlooking a city.

Lori:

Our mission is one where we are committed to making communities a place of pride, power and belonging. Everybody wants to belong.

On screen:

Ms. Chatman smiles, standing on a balcony that overlooks a wall-sized mural of raised and open hands.

Text on screen:

Creating an Equitable Path Forward – Lori Chatman, President, Capital Division, Enterprise Community Partners.

Logos:

J.P. Morgan.

Chase

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). [LDM1] We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization.

Text on screen:

Creating and preserving affordable housing in South LA.

Mark Wilson, President and CEO, Coalition for Responsible Community Development.

Logos:

J.P. Morgan.

Chase.

Text on screen:

The 1992 LA Riots prompted Mark Wilson to focus on economic and housing inequality in his neighborhood, South Los Angeles. In 2005, Wilson co-founded the  Coalition for Responsible Community Development (CRCD) to help Black, Hispanic, and Latino young adults.

On screen:

Mark, a man with short hair, a short goatee, and brown eyes.

Text on screen:

Mark Wilson, President and CEO, Coalition for Responsible Community Development.

Mark:

Recently, with the COVID 19 pandemic, there was a vacuum of services that were not being implemented and the rapid pace that it needed to at that time.

On screen:

Signs in store windows read: "Closed. Going out of business" and "Sorry we're closed." A diverse group of people (all wearing protective face masks) fill out applications.Text on screen:CRCD offers hundreds of services to help the community's low-income and working class residents and small businesses. During the COVID-19 pandemic, these vulnerable groups were hit particularly hard.

Mark:

And some of the people that were impacted the most were small business owners who happen to own small apartment buildings.

On screen:

Finance specialists meet with small business owners and real estate executives.

Mark:

So we partnered with Enterprise Partners to create the Local Renters Owner Collaborative, which is called LROC.

Text on screen:

LROC has helped maintain their properties without evicting tenants during the pandemic. To date, LROC has supported 193 units across 67 buildings.

Mark:

And that impacted the lives of more than 125 residents in South L.A.

On screen:

A montage shows LROC representatives meeting with young Black and Latinx tenants.

Mark:

And without that partnership, without those resources, those would have been 125 families that may have found themselves on the streets of Los Angeles. And so we continue to think about innovative projects like this that we can bring to Enterprise Community Partners to figure out ways to not only invest in us with capital, but also grant funding that can support programs like LROC.

On screen:

Mr. Wilson speaking and shaking hands with a construction worker, wearing a hard hat.

Mark:

Where partners like Enterprise, they allow us to flexibility so that we can target the population that much needs that housing.

On screen:

Mr. Wilson stands outside a large warehouse.

Text on screen:

Creating and preserving affordable housing in South LA.Mark Wilson, President and CEO, Coalition for Responsible Community Development.

Logos:

J.P. Morgan.

Chase.

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). [LDM1] We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization. 

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This Information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such. 

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material.

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures. 

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation. 

JPMorgan Chase Bank, N.A. Member FDIC.

END

Text on screen:

A Place to Call Home - James Jacob and Andrew Rodnan, Tenants, Residences on Main.

Logos:

J.P. Morgan.

Chase.

Text on screen:

James and Andrew have each experienced homelessness and the instability it brings. With help from the Coalition for Responsible Community Development (CRCD), they have a place to call home.

On screen:

An aerial view of Residences on Main, an apartment complex about the size of a city block. Then James, a man with short hair and brown eyes.

Text on screen:

James Jacob, Tenant, Residences on Main.

James:

I moved into the Residences on Main. And to be honest, I wouldn't even be here in this situation, if it wasn't for CRCD.

On screen:

James walks into the lobby of his apartment building and then pushes a button for the elevator.

James:

Ever since I moved in, I've been able to accomplish things, applying for more jobs. When I was homeless, I wasn't really able, you know, to do things right without having a stable living situation. Ever since I moved in, I've just been feeling comfortable.

On screen:

James smiles, standing on his balcony, which overlooks a colorful wall-sized mural.James.It's a welcoming, and I just got to say it again, I really thank CRCD for that because I didn't even know about the opportunity.

On screen:

In a Residences on Main hallway, Andrew, a bald man with hazel eyes walks to his apartment mailbox to get his mail.

Andrew:

I would like to express my gratitude toward this stepping stone, allowing me to move forward and work on myself in all aspects.

Text on screen:

Andrew Rodnan, Tenant, Residences on Main.

Andrew:

Since around 14 and 15, I never really had stability until I until I came here. So yeah, I'm very thankful.

Text on screen:

A Place to Call Home - James Jacob and Andrew Rodnan, Tenants, Residences on Main.

Logos:

J.P. Morgan.Chase.Side note:Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). [LDM1] We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization.

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This Information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such.

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material.

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures. 

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation. 

JPMorgan Chase Bank, N.A. Member FDIC.

END

Text on screen:

Conscious community building - Dyane Pascall, Landlord, Los Angeles Local Renter Owners Collaborative.

Logos:

J.P. Morgan.Chase.

Text on screen:

Dyane Pascall purchased his properties to provide affordable housing in low-income communities amid displacement of residents. But when the pandemic hit, many tenants couldn't pay rent, which strained Pascall's operations.

On screen:

Dyane, a man with brown eyes, a beard, and dreadlocks

Text on screen:

Dyane Pascall, Landlord, Local Renter Owners Collaborative.

Dyane:

It was a tough time because it was like people weren't paying rent. I had you know, people call me and I was I was just being human.

On screen:

A man, holding his head, looks over his bills, in a living room. A family reviews their finances, with a calculator, their credit cards, and a notebook, spread out on a table.

Dyane:

So it's like trying to manage all that stuff, keep it together yourself and respond to the needs of the tenants and all those things. So having a partner in that was very much needed.

Text on screen:

Local Renter Owners Collaborative (LROC) helped fill the financial gap so Pascall could focus on helping his tenants and maintaining his properties.

Dyane:

Those funds not only helped me navigate what I needed to do and also put myself in good standing with my tenants is like just putting people in a place where they're a little bit at ease as much as one can be, while we're figuring this out.

On screen:

Mr. Pascall walks down a neighborhood block. He wears a sweatshirt reading: "Trap Heals."

Dyane:

And so since then, we've been very useful. The paying of the back rent but more importantly, will help people where they are at now.

On screen:

Outside one of his properties, Mr. Pascall shakes his tenant's hand and gives him a friendly hug.

Dyane:

And then building out hopefully, a bigger vision of how do we get capital funds to the local mom-and-pop folks, nonprofit folks, so that we can have a bigger say in our communities and how they're shaped.

On screen:

Mr. Pascall, his tenant, and three other community members stand together outside a neighborhood house.

Text on screen:

Conscious community building - Dyane Pascall, Landlord, Los Angeles Local Renter Owners Collaborative

Logos:

J.P. Morgan.

Chase.

Side note:

Legal disclosures appear.

Text on screen:

Equal Housing Lender.

Chase, J.P. Morgan, and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, “JPMC”, “We”, “Our” or “Us”, as the context may require). [LDM1] We prepared these materials for discussion purposes only and for your sole and exclusive benefit. This information is confidential and proprietary to our firm and may only be used by you to evaluate the products and services described here. You may not copy, publish, disclose or use this information for any other purpose unless you receive our express authorization.

These materials do not represent an offer or commitment to provide any product or service. In preparing the information, we have relied upon, without independently verifying, the accuracy and completeness of publicly available information or information that you have provided to us. Our opinions, analyses and estimates included here reflect prevailing conditions and our views as of this date. These factors could change, and you should consider this information to be indicative, preliminary and for illustrative purposes only. This Information is provided as general market and/or economic commentary. It in no way constitutes research and should not be treated as such.

The information is not advice on legal, tax, investment, accounting, regulatory, technology or other matters. You should always consult your own financial, legal, tax, accounting, or similar advisors before entering into any agreement for our products or services. In no event shall JPMorgan Chase or any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon or for any inaccuracies or errors in, or omissions from, the information in this material.

The information does not include all applicable terms or issues and is not intended as an offer or solicitation for the purchase or sale of any product or service. Our products and services are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. In addition, eligibility for particular products and services is subject to satisfaction of applicable legal, tax, risk, credit and other due diligence, JPMorgan Chase’s “know your customer,” anti-money laundering, anti-terrorism and other policies and procedures.

Products and services may be provided by Commercial Banking affiliates, securities affiliates or other JPMC affiliates or entities. In particular, securities brokerage services other than those that can be provided by Commercial Banking affiliates will be provided by appropriate registered broker/dealer affiliates, including J.P. Morgan Securities LLC and J.P. Morgan Institutional Investments Inc. Any securities provided or otherwise administered by such brokerage services are not deposits or other obligations of, and are not guaranteed by, any Commercial Banking affiliate and are not insured by the Federal Deposit Insurance Corporation. 

JPMorgan Chase Bank, N.A. Member FDIC.

END