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JPMorgan Chase Commits $150M to Chicago’s South, West Sides
JPMorgan Chase on Thursday announced a new $150-million, five-year commitment in philanthropic capital and low-cost loans to Chicago’s South and West sides. It’s part of the firm’s $30-billion national commitment to advance racial equity.
“Business has a responsibility to help solve challenges facing the customers and communities it serves, and that includes addressing longstanding racial and economic inequities that affect far too many Chicagoans,” said Jamie Dimon, JPMorgan Chase’s chairman and CEO.
The commitment to Chicago’s South and West sides intends to support an inclusive recovery from the pandemic by:
• Connecting 5,000 people with high-quality career pathways and engaging 100 employers in these efforts.
• Preserving or creating 1,000 units of low-income housing to serve 2,500 individuals.
• Helping 9,000 small businesses receive services, including at least 1,000 minority business owners access capital.
• Helping 10,000 people access high-quality products and services to improve their financial health.
- ◦Financing
- ◦Economy
