Urban Impact, a longtime Birmingham nonprofit, is among the group of agencies tapped by a major bank to expand access to small businesses in underserved communities across Alabama.

The $200,000 grant from JPMorganChase is part of $2 million in commitments to Alabama-based organizations through the bank’s new Alabama Capital Access Collaborative initiative.

Urban Impact will use its grant to build its Birmingham Community Impact Fund. The program provides micro loans to small businesses ranging from $500 to $25,000.

The program was launched in 2022 as a wholly owned entity of Urban Impact, which is governed by an independent five-member board.

“This collaborative will allow us to deepen our reach and expand tools for entrepreneurs who are often overlooked but are essential contributors

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