Resiliency Amidst COVID: How This Black Business Reemerged As A Global Tech Solution For Minority Small Business Needs

Patrice Darby
Patrice Darby

Resiliency Amidst COVID: How This Black Business Reemerged As A Global Tech Solution For Minority Small Business Needs
Chase For Business Is Focused On Helping Startup Business Gologic Solutions Give Back To The Small Business Community

     The coronavirus pandemic caused unprecedented loss for Patrice Darby. Her first business, GoNanny, a childcare service, closed in 2020 due to COVID-19, leaving her battling grief after losing something she worked tirelessly to build.
     Instead of focusing on her own misfortune, Patrice, a seven-year technology veteran and second-generation entrepreneur, realized that the pandemic was affecting hundreds of other small businesses in Chicagoland . As businesses were forced to close, those without technical capabilities, access to technology or the ability to pivot their business online struggled, especially minority-owned businesses. With so many businesses facing the same technology hurdles, Patrice saw an opportunity and she reemerged with a new business called GoLogic Solutions, a data aggregation and economic development platform that helps small businesses accelerate growth and reduce failure while increasing the capabilities of entrepreneurial support organizations.
      To launch her new venture, Patrice knew she needed a strong financial partner to support her long-term goal of growing globally. She needed a mentor to help her pitch her business to the entrepreneur ecosystem – specifically corporate and philanthropic organizations focused on COVID-19 recovery and technological solutions – a task often daunting for small business owners.
      Last fall, through World Business Chicago, Patrice met 20-year banking veteran and Chicago native Pamela Randle, a Chase senior business consultant . Talking with Pamela, Patrice learned about the Chase for Business program focused on accelerating minority small business growth. The initiative is part of the bank’s $30 billion Path Forward commitment to advance racial equity.
     “It’s important to recognize the differences and uniqueness of each individual business owner before trying to set goals,” said Pamela. “I typically like to start by learning the three pain points of the business, and three things they’d like to gain from the program and keep them accountable. Ultimately, I want to be able to show small business owners like Patrice tangible business growth.”
     Since teaming up with Pamela, Patrice has focused on diversifying her revenue streams, which has helped her limit her business’ financial risks while building her client base and offerings. Through the Chase for Business program, Patrice now has a clear business development strategy, and as GoLogic rapidly expands, a better understanding of what the business will look like in the future and how to execute on her plans.
     “It’s always surprising to see how many entrepreneurs forego access to a business mentor,” said Patrice. “Having a reliable partner who you can trust to inform your business decisions is one of the most important things you can do as an entrepreneur.”
     Launched in 2020, JP Morgan Chase’s $30 billion Path Forward commitment aims to drive an inclusive economic recovery and advance racial equity. Over the next five years, Chase plans to provide an additional 15,000 loans to Black and Latinx-owned small businesses – up to $2 billion. Through this initiative, business owners in 13 cities across the U.S., including in Chicago, will be matched with a senior business consultant who will provide advisory services such as mentorship, business development coaching, resources and financial planning to help strengthen sustainable business growth for Black, Latinx, female and veteran entrepreneurs. The program is available to all, Chase customers and non-customers alike.
      To learn more about how Chase for Business is supporting minority entrepreneurs in the Chicago area, reach out to Chase for Business Senior Business Consultant Pamela Randle at pamela.randle@chase.com.

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