Banking and financial services company JPMorgan Chase will award $5 million over three years to a collaboration of three Miami-based nonprofits to support women workers in the health and home services sector .
Neighborhood Housing Services of South Florida, Miami Workers Center and Catalyst Miami are receiving the money as a reward for winning AdvanceCities, a contest aimed at devising sustainable solutions for communities and professionals affected by COVID-19.
Nonprofit organizations aim to help people who are engaged in childcare, home health, cleaning, and other similar jobs. They have started accepting applications from caregivers who want to set up their own cooperatives or businesses.
Kimberly T. Henderson, CEO of Neighborhood Housing Services, said the funding is an opportunity to support Black and Latina caregivers in building sustainable businesses and careers.
Selected workers will receive 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 through the organization’s community development financial institution.
“To fuel an inclusive economy, NHSSF and our partners Catalyst Miami and Miami Workers Center bring a multidisciplinary and comprehensive approach to connecting poor women homeowners with capital,” said Henderson. “The funding for it is crucial to empowering the Black and Latinx women who largely shape and drive the care economy in Miami. NHSSF is honored to be a part of this innovative and much-needed approach to supporting small businesses targeted by women”.
Miami joins Washington DC, Baltimore, Minneapolis, New Orleans and Los Angeles as one of six cities to receive funding from the banking giant for care workers.