Minority Recipients of JPMorgan Chase–Backed Entrepreneurs of Color Fund Awarded $325,000

• Priceless Preservation’s Construction Co. (PPC) — $50,000 Contractor Line of Credit. Also located on the west side of Detroit, PPC provides high quality construction work across the Motor City and was recently awarded construction projects in partnership with the Rehabbed and Ready Program, a Detroit Land Bank, Quicken, and Home Depot initiative to help boost residential property values in Detroit. The EOC Fund line of credit will be used to fulfill contracts to renovate properties owned by the Detroit Land Bank.

• LoveLifeSwagger — $30,000 Line of Credit. Based in downtown Detroit, LoveLifeSwagger provides high quality, U.S.-made street wear products to the urban fashion market. Products are manufactured in several U.S.-based facilities including one on Detroit’s East side. Capital from the EOC Fund will be used to assist with business expansion and job creation.

• House of Pure Vin — $145,000 Loan. House of Pure Vin is seeking to become the wine retail store destination in downtown Detroit. Over half of House of Pure Vin’s inventory will come from locally sourced Michigan vineyards. The loan from the EOC Fund will be used to finance the start-up costs of the wine retail store.

“The success of minority-owned small businesses in neighborhoods across Detroit is critical to the city’s continued economic recovery,” noted Peter Scher, Head of Corporate Responsibility for JPMorgan Chase. “By providing them with greater access to credit, more entrepreneurs will have opportunities to thrive and grow for years to come.”

W.K. Kellogg Foundation President and CEO La June Montgomery Tabron also added, “This is a partnership that we’re certain will yield formidable results for entrepreneurs of color in Detroit,” said “We know intentional investment in these entrepreneurs is crucial in helping make these small businesses sustainable, in increasing jobs, and in supporting equitable urban development and Detroit’s recovery.”