JPMorganChase Job Start - grants and no-interest loans for jobseekers
Prolonged unemployment can be financially detrimental to many jobseekers, particularly low-wage workers with little or no savings or financial support from friends or family. The job search requires money for transportation to and from job interviews, childcare arrangements, interview clothes, uniforms and fees for job-related licenses.
The JP Morgan Chase Foundation has established a no-interest loan and grant fund in Southwestern Connecticut to ease the financial burdens of jobseekers. The funds, administered by The WorkPlace, Inc., assist people whose job search or job retention is jeopardized by pressing financial needs that cannot be met with available government or community funds. By supporting jobseekers' transitional needs through small loans and grants, Job Start increases success in securing and retaining jobs.
- Loans
The no-interest loans range from $50 to $1,000. Borrowers enter formal loan agreements that detail payment terms, participation in employment-related activities, and financial counseling. Prompt repayment of loans assist clients in establishing a successful credit history. Repaid loan funds are redistributed to other jobseekers. - Grants
Grants are given in variable amounts. Grants do not have to be repaid.
Applicants are identified for a JPMorgan Chase Job Start Loan or Grant through a WorkPlace, Inc. program. The service provider will submit a letter recommending them for receipt of a loan or grant. All loan money is paid to the vendors, directly. Individuals seeking to apply for a JPMorgan Chase Job Start Loan or Grant must register for job search assistance at a Southwestern CTWorks Career Center.
JPMorgan Chase Job Start is a project of The WorkPlace, Inc. and funded by the JP Morgan Chase Foundation.
For information contact:
Anne Carr, Vice President of Operations
Career Resources, Inc.
350 Fairfield Avenue
Bridgeport, CT 06604
(203) 953-3260
