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JPMorgan Chase gives $5 million to Miami nonprofits to boost business options for care workers
Miami Herald
By Michael Butler
This article originally appeared in the Miami Herald.
Kimberly T. Henderson, CEO of Neighborhood Housing Services, said the funding is an opportunity to help Black and Latina care workers start businesses and develop sustainable careers.
Bank and financial services company JPMorgan Chase is providing a Miami-based collaborative of three nonprofits with $5 million over three years to support workers in the care economy.
Nonprofits Neighborhood Housing Services of South Florida, Miami Workers Center and Catalyst Miami are getting the money as a reward for winning AdvanceCities, a competition aimed at devising sustainable solutions for communities and professionals affected by COVID-19.
The nonprofits intend to help people doing childcare, home health, cleaning and other similar work. They have begun accepting applications from care workers who want to start their own cooperatives or businesses.
Kimberly T. Henderson, CEO of Neighborhood Housing Services, said the funding is an opportunity to help Black and Latina care workers start businesses and develop sustainable careers.
Selected workers will gain training and education to help them grow their businesses. They will also have access to asset-building and investment opportunities, such as loans and lines of credit via the organization’s community development financial institution.
"To nurture an inclusive economy, NHSSF and our partners Catalyst Miami and Miami Workers Center bring a multidisciplinary and holistic approach to connecting low-wealth employee owners to capital,” Henderson said. “Funding for that is crucial to empowering Black and Latina women that largely make up and propel Miami’s care economy. NHSSF is honored to be a part of this innovative and much needed approach to supporting small, women-led businesses.”
Miami joins Washington, D.C., Baltimore, Minneapolis, New Orleans and Los Angeles as one of six U.S. cities to receive funding from the banking giant for care workers.
By Michael Butler
This article originally appeared in the Miami Herald.
Kimberly T. Henderson, CEO of Neighborhood Housing Services, said the funding is an opportunity to help Black and Latina care workers start businesses and develop sustainable careers.
Bank and financial services company JPMorgan Chase is providing a Miami-based collaborative of three nonprofits with $5 million over three years to support workers in the care economy.
Nonprofits Neighborhood Housing Services of South Florida, Miami Workers Center and Catalyst Miami are getting the money as a reward for winning AdvanceCities, a competition aimed at devising sustainable solutions for communities and professionals affected by COVID-19.
The nonprofits intend to help people doing childcare, home health, cleaning and other similar work. They have begun accepting applications from care workers who want to start their own cooperatives or businesses.
Kimberly T. Henderson, CEO of Neighborhood Housing Services, said the funding is an opportunity to help Black and Latina care workers start businesses and develop sustainable careers.
Selected workers will gain training and education to help them grow their businesses. They will also have access to asset-building and investment opportunities, such as loans and lines of credit via the organization’s community development financial institution.
"To nurture an inclusive economy, NHSSF and our partners Catalyst Miami and Miami Workers Center bring a multidisciplinary and holistic approach to connecting low-wealth employee owners to capital,” Henderson said. “Funding for that is crucial to empowering Black and Latina women that largely make up and propel Miami’s care economy. NHSSF is honored to be a part of this innovative and much needed approach to supporting small, women-led businesses.”
Miami joins Washington, D.C., Baltimore, Minneapolis, New Orleans and Los Angeles as one of six U.S. cities to receive funding from the banking giant for care workers.
