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JPMorgan Chase Commits $10 Million To Help Chicago's South Side

JPMorgan Chase announced its $10 million commitment to the Chicago Community Loan Fund to assist in the small business and retail storefront development in Chicago’s South and West sides. “We want our support for the South and West sides to be sustainable and to encourage others to see the benefits of investing here too,” JPMorgan Chase Chairman and CEO Jamie Dimon said in a statement. The Chicago Community Loan Fund (CCLF) is a nonprofit organization dedicated to providing affordable financing to low-income areas for community development. JPMorgan Chase’s capital commitment to the organization is set to create sustainable loan programs and attract additional outside capital for the CCLF and is part of JPMorgan Chase’s greater initiative to create economic opportunity in Chicago. “This new investment propels CCLF’s strategic commitment to increase commercial retail in low-income neighborhoods in Chicago,” CCLF President Calvin L. Holmes said in a statement. “This substantial...

Dec 17, 2018