JACKSONVILLE, Fla. (Feb. 28, 2025) – JAX Chamber is launching an Access to Capital initiative, designed to create a lending ecosystem for small businesses to thrive in our community.
This is one more success of JAX Bridges, the Chamber’s entrepreneurial education program that celebrated its 10th anniversary last year.
One of the top goals of Mark Bennett, who served as Chamber Chair in 2024, was to create more access to capital for small businesses – and to assist lenders in finding the right companies to work with. Bennett, Jacksonville President and Southeast Regional Executive for Bank of America, helped connect the Chamber to a fund that several national banks have contributed to.
“Carlton and his team do an incredible job getting these small businesses prepared to be vendors and work with larger companies,” Bennett said. “The one thing we were missing was easier access to capital and a vetting system to help lenders get their dollars out on the street to help grow promising local companies.”
Bennett helped facilitate discussions with lenders over the course of the last two years. The lending initiative was a focus of the Chamber’s Leadership Trip to Indianapolis last fall. There, the Jacksonville delegation learned some of the lessons of the Indy Chamber to effectively work with businesses and lenders to form a true partnership.
“This is an incredible opportunity for the Chamber and our community to take the next step in supporting small businesses,” JAX Chamber Chair Ari Jolly said. “We are fortunate to have
Mark making these connections for us and using his expertise with small business to create an environment where entrepreneurs can thrive.
Initially, Chamber members and participants in the JAX Bridges program will have access to two different Community Development Financial Institution programs. The Chamber is also creating
its own loan fund and will have an Advisory Board of local bankers to provide oversight and direction.
Between JAX Bridges and Chamber supplier forums, there will be quarterly onboarding events where companies can gain access to loan processes and receive assistance on how to pitch to
lenders.
“We have two primary goals: provide access to capital for small businesses and relationship access to lenders in bankers. The relationships and connections to make that possible can only
happen at the Chamber,” JAX Chamber Chief Innovation Officer Carlton Robinson said.
Loans of up to $100,000 will be available initially and this will help develop a lending ecosystem that can compete with any other community, Robinson said. Loan requests for larger amounts
will be referred to the advisory board.
This work also complements the microlending and other innovative small business programs at the City of Jacksonville, furthering Mayor Donna Deegan’s goal of becoming the Small Business
Capital of the Southeast.
“I’m grateful for the JAX Chamber’s initiative to make funding more readily available for up-and-coming small businesses,” said Jacksonville Mayor Donna Deegan. “Their efforts fit perfectly with the City of Jacksonville’s loan, grant, and incentive programs. It’s going to take all of us working together to become the Small Business Capital of the Southeast – and we are well on
our way.”
For more information on the Access to Capital initiative, sign up for updates here