Firm announces expansion of Ascend 2020 program to support minority-owned small businesses

JPMorgan Chase has announced a $2.5 million increase in Ascend 2020 over the next three years, expanding it from six U.S. cities to 10. The program connects underserved entrepreneurs with capital, supplier diversity opportunities and business education resources, and has helped 140 businesses secure $8 million in contracts and new capital since late 2016. Headquartered at the University of Washington Foster School of Business, the expanded program will also formalize business education, consulting services and partnerships with anchor institutions that are committed to increasing spending with minority-owned firms.

“Ascend 2020 is a model for supporting minority-owned small business that is working, and we are excited to be driving inclusive economic growth by bringing it to other U.S. cities,” said Peter Scher, Global Head of Corporate Responsibility at JPMorgan Chase. “By joining forces with the University of Washington, we’re improving minority-owned businesses access to the capital, education and new clients they need to thrive.”

Learn more about the program expansion here.