Growing up in Cameroon, Martin Elute-Penda never envisioned he would study at Oxford University and work for two of the largest accounting firms in the world. He studied economics and enjoyed being a consultant, but he had a vision to start his own business. Little did he know his American Dream would allow him to reengage with the country where he was raised.
After immigrating to the US in 2000 and serving with Fortune 500 firms like Arthur Anderson, Ernst & Young, E*Trade, and Wells Fargo, Martin had amassed the experience needed to embark on his own entrepreneurial endeavor. Now, he needed the right partners to help make the dream a reality.
“I have been blessed on the journey to where I am now. With years of hard work behind and ahead, NAC and the USDA have given me the opportunity to pursue my goal of owning a business that contributes to people’s quality of life here in America and abroad.”
Named in honor of his late father, JPN Ventures and JPN Realty are ready to launch their operations in Minnesota and meet the soaring demand for used luxury vehicles in West Africa.
Clint Justice, Sr. Loan Architect and Lead Lender for the project, commented,
“Martin is like countless residents of Rural America. He is motivated, has impeccable work ethic, and has a vision for contributing locally and abroad. He simply needed someone to stand with him in those pursuits.”
Clint and North Avenue Capital underwrote and funded the loan to JPN using the USDA Business & Industry program, facilitating the purchase of commercial real estate in Minnesota and providing capital to fund the operation. With the loan closed and disbursed, Clint noted,
“NAC is excited to serve JPN Ventures & JPN Realty in providing the debt-financing needed to launch their real estate and automotive export businesses. With this loan in place, Martin is on his way to realizing the American Dream all the while creating jobs and economic opportunity in his community.”
NAC’s Chief Executive, Ben Chatraw commented,
“Martin is a true success story, creating value for his family, America, and West Africa through JPN. He and his wife are wonderful examples of the opportunities afforded to hard-working, passionate people. JPN is writing a compelling story and NAC is proud to be involved, and proud to help generate meaningful growth where it’s needed most, in rural America.”