00:00It's Benzinga, bringing Wall Street to Main Street.
00:02JPMorgan Chase plans to expand lending to small businesses as part of its American Dream initiative,
00:07announced Tuesday, according to Reuters.
00:09The bank aims to grow its small business clients from 7 million to 10 million as part of its American
00:13Dream initiative.
00:14The program is aimed at boosting affordable housing, healthcare access, and job training.
00:18It expects to lend $80 billion to small businesses over 10 years through direct lending and partnerships
00:23with community lenders and federal programs.
00:25JPMorgan will expand a coaching program to reach 115,000 owners with guidance on payroll, cash flow, healthcare, and retirement
00:32plans.
00:33The bank will hire 1,000 credit officers and 150 consultants and focus on regions including Alabama
00:38and cities such as Philadelphia, Atlanta, Los Angeles, and San Francisco.
00:42It also plans to open 35 branches in Alabama by 2030.
00:45For all things money, visit Benzinga.com.
Comments