JP Morgan Chase PRO Neighborhoods Evaluation in Memphis
As the local Evaluator for JP Morgan Chase’s (JPMC) PRO Neighborhoods program, Innovate Memphis is analyzing and measuring the Memphis Community Development Financial Institutions (CDFI) Network’s grant program. The 4-year program provides direct capital to CDFI lenders but also improves the capacity of Memphis CDFIs to collaborate and create similar lending intake processes and measurement tools to produce.
The aim is to form a closer network with a place-based approach supporting two systemically disinvested communities: Frayser and Whitehaven. JPMC wants to see financial education, business lending and technical assistance, down payment assistance, and in light of COVID-19 the CDFI network partners are providing COVID relief funding as well, all to improve low-income residents’ access to quality housing and neighborhoods. The team will evaluate how these programs impact the community and how the CDFI network is growing and maturing. The audience for this evaluation will primarily be the local CDFI network but also the broader Memphis community development ecosystem, as the community development sector is still understanding how best to leverage Memphis’ growing CDFI presence.