SKN | JPMorganChase Expands Support for Greater Los Angeles Small Businesses Through Ascend LA Initiative

Key Points

• JPMorganChase is supporting the Ascend LA accelerator to help small businesses compete for government contracts and major infrastructure projects across Greater Los Angeles.
• Since launching in 2020, Ascend LA has helped participating businesses secure more than $58 million in public and private sector contracts.
• The initiative reflects JPMorganChase’s broader commitment to small business development, community investment, and long-term regional economic growth.

JPMorganChase is strengthening its commitment to small business development in Greater Los Angeles by supporting Ascend LA, a business accelerator operated by the Los Angeles office of the Local Initiatives Support Corporation (LISC LA). The program is designed to help diverse entrepreneurs compete for government procurement opportunities by providing education, technical assistance, and access to capital.

The initiative comes as Los Angeles prepares for several major international sporting events expected to generate an estimated $18 billion in economic activity across California, creating significant opportunities for local businesses involved in construction, infrastructure, and related services.

Helping Small Businesses Access Larger Contracts

Many small businesses possess the expertise to perform large-scale projects but often face barriers when navigating complex government procurement processes. Requirements involving bonding capacity, insurance, compliance standards, and proposal preparation can prevent otherwise qualified firms from competing successfully.

Ascend LA addresses these challenges by providing participants with practical guidance on procurement, financial readiness, and contract management. The program connects entrepreneurs with procurement specialists, consultants, lenders, and experienced industry professionals to improve their competitiveness for public sector contracts.

Since its launch in 2020, Ascend LA has helped participating businesses secure more than $58 million in contract awards.

Access to Capital and Business Resources

JPMorganChase supports Ascend LA as part of its broader strategy to strengthen local economies through small business development. Beyond the accelerator, the bank serves more than 590,000 small business clients across Greater Los Angeles and has deployed more than $13 million in philanthropic funding over the past five years to support entrepreneurship and business growth throughout the region.

Together, these resources help businesses expand operations while preparing them to manage larger and more complex projects.

Building Capacity for Long-Term Economic Growth

The initiative also aims to ensure that local businesses are positioned to participate in the economic opportunities created by major infrastructure investments and international events. By strengthening the capabilities of regional contractors and service providers, programs like Ascend LA seek to keep more economic benefits within local communities.

Participants receive support in areas including proposal development, bonding requirements, regulatory compliance, prevailing wage standards, and financial planning—all essential components for competing in public infrastructure projects.

As businesses successfully complete larger contracts, they build stronger operating histories that improve their ability to qualify for future opportunities.

Community Investment Remains a Strategic Priority

For JPMorganChase, supporting entrepreneurship extends beyond traditional banking services. The firm’s philanthropic and community development initiatives focus on expanding economic opportunity, improving access to capital, and helping underserved businesses grow sustainably.

By partnering with organizations such as LISC LA, JPMorganChase continues investing in programs designed to strengthen local business ecosystems, encourage job creation, and support long-term regional economic resilience.

Closing Insights

JPMorganChase’s continued support for the Ascend LA accelerator highlights the bank’s broader commitment to fostering inclusive economic growth through small business development. As Greater Los Angeles prepares for significant infrastructure investment and global events, initiatives that improve access to capital, procurement opportunities, and business education may help local entrepreneurs compete for larger contracts while strengthening the region’s long-term economic foundation.

For a confidential discussion regarding small business banking, commercial lending, government procurement strategies, community development initiatives, or broader banking sector opportunities, contact our senior advisory team.