Banking giant JPMorgan Chase is lending billions to small businesses as part of an effort to expand access to capital and support growth in the US economy.
To chase he says His “American Dream” plan includes plans to provide $80 billion to help small businesses grow, especially in underserved areas.
The project is designed to increase lending opportunities, increase access to credit and support long-term financial flows. The bank said the program will target small businesses that may face traditional financing barriers, including small-cap and low-income businesses.
In a interview and Fox Business, CEO of JPMorgan Chase Jamie Dimon emphasized the importance of continuing to invest in the US economy and small business.
“The American Dream is not over. America is the most prosperous country that has ever lived on earth and that is true today. But what is also true is that for some people, it has not been the American Dream.
Think about people with low incomes, people in rural areas or some inner cities – schools are not working, there is a lot of crime, they are not getting jobs, their incomes have not risen for a long time – JPMorgan has been committed to developing this country and countries around the world so this is a way to strengthen it.
We just said to our people, ‘What can we do to help fix the things that are ailing America?'”
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