“We teach the credit portion … so when they walk into the bank and the lender looks at their credit score, they can be proud of the number and not have any fear,” Moore said.
Andrade echoed that message, encouraging entrepreneurs to focus on fundamentals before pursuing financing.
“We have Business 101 content where we discuss starting at the foundation, the core, before moving on to anything else,” she said.
Those fundamentals include understanding cash flow, budgeting, saving and maintaining healthy credit.
“Personal credit is the gateway into business credit,” Andrade said. “They should understand their credit score, history, and background and get financially healthy.”
More Than A Loan
Both community managers emphasized that many entrepreneurs need guidance beyond financing.
Sometimes the biggest obstacle isn’t securing a loan but understanding how to structure a business, manage finances, or prepare for long-term growth.
“We want to meet people where they’re at,” Andrade said. “We’re having real conversations with real people about what they need because we want to be a resource to our community.”
That approach goes in line with JPMorgan Chase’s broader American Dream initiative, which includes expanding financial education, supporting affordable housing and helping more small businesses succeed.
For Moore, being financially healthy starts with understanding exactly how money flows through a business.
“Go back to budgeting fundamentals,” he said. “Know where every dollar goes.”
Being able to clearly explain a business’s finances, he said, helps build confidence with lenders and gives entrepreneurs confidence in their operations.
Finding Help
Many business owners may not realize they don’t have to wait until ready to apply for financing to get guidance.
Moore and Andrade said entrepreneurs can connect with Chase community managers through financial education workshops and community events, or access free small-business resources on the bank’s website. Community managers also can refer business owners to Chase small business consultants who provide free coaching.
Evan Moore, left, JPMorgan Chase’s Modesto community manager, and Andrea Andrade, the company’s vice president and community manager for Stockton and San Joaquin County, pose for a portrait Aug. 4 at JPMorgan Chase CEO Jamie Dimon’s 16th annual summer bus tour Aug. 4. Neenma Ebeledike, OBSERVER
Whether someone is opening their first business or preparing to expand an existing one, Andrade said the first step is simply starting the conversation.
