By the Latino Times staff
Stockton small businesses like many around the country are struggling with rising costs, economic uncertainty, and thin profit margins. Yet, perhaps there is a ray of sunshine in the forecast as these businesses just got a lifeline from the country’s largest bank.
JPMorganChase recently announced a significant expansion of its efforts to support small businesses throughout the Bay Area and Stockton and Sacramento. The initiative includes scaling its coaching program, adding more business bankers to its staff, and donating a few million to revitalize downtown San Francisco.
The move comes as small businesses across the country face similar struggles, including persistent inflation, rising operating costs, and tighter cash flow that has made growth harder to sustain.
“Small business owners are the backbone of San Francisco’s economy — they create jobs, strengthen neighborhoods, and help families build generational wealth,” said Ben Walter, CEO of Chase for Business. “Our role is to match their ambition with capital, advice, and connections so they can grow, hire, and help drive the city’s next chapter.”
While the announcement centered on San Francisco, the expanded services are available to entrepreneurs throughout the region, including Stockton.
At the center of the expansion is JPMorganChase’s Coaching for Impact program, a no-cost initiative offering one-on-one consulting, executive coaching, and on-demand education.
The program is designed to help business owners strengthen operations, improve credit readiness, and prepare for growth opportunities such as contracts and procurement. Since launching in 2020, more than 12,000 business owners nationwide have completed the program.
The expansion also includes more than $2.5 million in new philanthropic grants aimed at strengthening small business ecosystems in San Francisco, supporting commercial corridors, and revitalizing San Francisco’s downtown.
In addition, JPMorganChase plans to add roughly 50 business bankers in the region, increasing its capacity to provide direct financial advice, access to capital, and connections to broader business resources.
For JPMorganChase business coach Pablo Solares-Rowbury, the coaching program and overall efforts are about more than just financial guidance, they are about providing a supportive environment that sets business owners up for success.
“It’s very challenging (being a business owner),” he said. “You have to really love what you do.”
Solares-Rowbury said participants in the coaching program gain access to a network of trusted advisors who provide insight on everything from operations management to marketing strategy and guidance on applying for small business loans. Business owners do not need to be Chase customers to participate.
At a recent Chase for Business: The Experience event in San Francisco, an all-day expo that drew more than 400 entrepreneurs, business owners had the opportunity to receive personalized advice, attend workshops, and connect with experts.
One of the businesses with an exhibit at the event was Arden Cove, San Francisco-based travel accessories company based in San Francisco. The company has a storefront in the city’s Embarcadaro area and also an online store that reaches thousands of customers around the world.
The e-commerce business produces anti-theft and water-resistant bags, backpacks, and other items for travel and everyday use. Founded in 2016 by sisters Karin Yuen and Carmen Yuen, the brand has grown to one of the top brands in its industry.
Karin Yuen said the exposure and connections from the Chase event were invaluable, particularly as the company looks to continue to scale. Karin said she hopes to one day hire full time employees and that she received helpful information at the event relevant to that goal, including how to set up a 401k retirement account for future employees.
“It’s been really great,” Karin said. “The exposure has been amazing… and meeting other business owners has been great.”
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