US EditionJPMorgan Chase launches American Dream Initiative to expand small business support across the US
JPMorgan Chase commits nearly $80 billion in lending and plans to mentor 115,000 small business owners nationwide to grow its small business customer base to 10 million.
- On Tuesday, JPMorgan Chase CEO Jamie Dimon unveiled the 'American Dream Initiative' , a sweeping multi-year effort to expand economic opportunity across the United States.
- Dimon cited concerns that 'the American Dream is alive, but it's slipping out of reach for too many people,' prompting the bank to invest in local economic growth.
- JPMorgan will commit nearly $80 billion in lending to small businesses over the next decade and mentor nearly 115,000 owners through its 'Coaching for Impact' program.
- Chase Business Banking CEO Ben Walter said the bank will hire 1,000 additional small business bankers across its 5,000-branch network to deepen domestic supply chains.
- The ADI complements JPMorgan's $1.5 trillion Security and Resiliency Initiative, which targets manufacturing, energy, and infrastructure to bolster America's long-term competitiveness.
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20 Articles
JPMorgan Puts Together a Bailout for the American Dream
Jamie Dimon is taking the American Dream public. On Tuesday, JPMorgan Chase announced a venture to expand economic opportunity through investments in communities across the country. The “American Dream Initiative” will kick off with increased access to capital, advice or tools for 10 million small businesses, up from the 7 million the bank serves today, according to a statement. Other goals include greater housing access and affordability throu…
Business Insider
The New York LedgerJPMorgan's investment in the 'American Dream' comes during a crisis of faith in capitalism
Jamie DimonLeigh Vogel/Getty Images The Hill & Valley ForumJPMorgan launched its "American Dream Initiative" on Tuesday.The bank's effort comes as Americans' faith in capitalism is falling.JPMorgan has invested in other efforts to boost the American economy, including Trump Accounts.Jamie Dimon wants his bank to save the American dream at a moment when many Americans are losing faith in its economic promise. JPMorgan announced a sweeping initiat…
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