Side note:

Bright music plays.

Text on screen:

Thriving in uncertain times.

Logos:
 - J.P. Morgan;
 - (and) Chase (with the Chase octagon symbol).

Text on screen:

Talent management - How to recruit and retain staff while continuously innovating.
On screen:

A man with closely cropped dark hair and brown eyes begins a virtual interview. He wears a light blue dress shirt and dark blue suit jacket.

Text on screen:
Frederick Royall the Third, National Head of Diverse Businesses, JPMorgan Chase Commercial Banking.

Frederick Royal III:

Many diverse business owners have told us about their challenges accessing capital. Ann, how would you characterize your capital raising experience?

On screen:

Ann, a woman with long black hair and brown eyes, replies. She is wearing a black suit, paired with gold earrings and a necklace.

Text on screen:
Ann Ramakumaran, Founder and CEO, Ampcus.

Ann Ramakumaran:

We're still a 100% privately held company. We don't have any outside investors yet. But from a bank perspective, our relationships with the banks have been great. Getting line of credits has never been an issue because they've really seen the way we manage our finances.

Frederick Royal III:

So let's go back to where you first started the business. How did you go about funding it at that point?

Ann Ramakumaran:

Yeah, so when I started off the business, put all my savings out there, all that I'd earned from my previous jobs, requested my husband to lend me about $10,000. But Fred, I repaid that the very first year. We were blessed because we had the support of our clients who really made adjustments to the payment terms within the contract. We were also blessed because we were surrounded by some amazing employees and contractors who agreed to our payment terms. But till date, knock on wood, we're a financially stable, profitable company. That's basically because there is that financial discipline, we manage our APs and ARs really well and when we take loans from the bank for any of our acquisitions, we have a very, very good aggressive payout plan. And that's a reason why banks love us and want to do more work with us.

Frederick Royal III:

What advice proved most helpful to you each time you approach lenders for financial support?

Ann Ramakumaran:

It is so important to not wait until the last minute, right? We put our short-term goals in place, we put our long-term goals in place, we share our vision with the banks. We keep them posted on where we are heading off to as a company.

Frederick Royal III:

Now turning to other diverse businesses, what advice would you have for them as they're thinking about pursuing capital to scale their operations?

Ann Ramakumaran:

If the goal of that business owner is to build an enterprise, then they need to focus on scalability and innovation. You have to ensure that they’re financially stable in a way that they also continue to be a profitable company. So it is very important to have that financial discipline. So since 2004, every single year, our financials are audited by external auditors. We invest in that. So it's very important to keep your books clean. It's very important to ensure that you run a financially stable entity because scalability and innovation comes at a cost. And most importantly, continue to build relationships with your banks. That's very, very important. Continue to invest back in the business because not all days are going to be glory days, but you’ve got to ensure that there's money in the bank to run payroll even during an economic downturn or government shutdown or a pandemic for that matter.

Frederick Royal III:

This is such an important topic for our founders and business leaders. Thank you, Ann, for sharing your journey with us.

On screen:
Ann smiles slightly as the video concludes.

Side note:

Bright music plays.

Logos:
- J.P. Morgan;
 - (and) Chase (with the Chase octagon symbol).

Side note:

Legal disclosures:

Text on screen:

Chase, J.P. Morgan, JPMorgan, JPMorgan Chase, and Story by J.P. Morgan are marketing names for certain businesses of JPMorgan Chase & Co. and its affiliates and subsidiaries worldwide (collectively, "JPMC", "We", "Our" or "Us", as the context may require).

The material contained in this video is intended as general market commentary and does not constitute legal, tax, investment, accounting, financial, business, real estate, or any other advice, and should not be relied upon as such. The views, opinions, estimates and strategies expressed in this video are those of JPMC , or other featured speakers, and may differ from those of Commercial Banking or other JPMC employees and affiliates. This video in no way constitutes an offer or commitment to provide a particular product or service. Products and services offered by JPMC and its affiliates are subject to applicable laws and regulations, as well as our service terms and policies. Not all products and services are available in all geographic areas or to all customers. Credit is subject to approval. Rates and programs are subject to change; certain restrictions apply.

This content does not constitute J.P. Morgan research and should not be treated as such. Any views expressed are often based on current market conditions and are subject to change without notice. Any statistics referenced have been obtained from external sources deemed to be reliable, but we do not guarantee their accuracy or completeness. In no event shall JPMorgan Chase nor any of its directors, officers, employees or agents be liable for any use of, for any decision made or action taken in reliance upon, or for any inaccuracies or errors in or omissions from, the information in this video.

Copyright 2024 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC. Deposits held in non-U.S. branches are not FDIC insured.

Equal Housing Lender.

END