Black Tie International Magazine
Home
 
Select your preferred language
 
 
Celebrity Philanthropy News
 
Society News
 
Save the Date 2021
 
Editor-in-Chief
Joyce Brooks
 
Publisher
Gerard Mc Keon
 
Black Tie  TV
 
Nightlife With
Rose Billings
 
Now Trending
with Alison Minton
 
On the Town
Audrey Reuben
 
Mrs. Ma. Xiaoqiu
DYF Entertainment
 
Impact Investment
 
Featured Foundations
 
Advertising
 
Co-Hosting Events
 
Listing Non-Profit Events
 
 
Share this Page
   
 
Black Tie China
 
Black Tie France
 
Black Tie Israel
 
Black Tie Philippines
 
New York Society
 
Palm Beach Society
 
International Society
 
Hampton Society
 
Las Vegas Society
 
West Coast Society
 
U.S. Society
 
Philanthropy  Giving
 
Entrepreneurial & Philanthropy Awards
 
Event Resource Directory
 
Promote your Services
 
Event Talent Directory
 
Feature Your Talent
 
Antiques
Art
Beauty
Blockchain
Cars
Couture Fashion
Crowdfunding
Fine Wines
 Health & Wellness
Interior Design
Investigative Services
Jewelry
Kids on Location
Legal Services
Luxury Yachts
Pet Services
Private Air
 Real Estate
Recommended Reading
Restaurant Reviews
Single Friendly Events
Social Announcements
Sustainable Investment
Technology
Theater/Arts
Travel
Wealth Management
 
 
Add your e-mail
 Friends
of Black Tie

 
 
Black Tie Classic
George Clooney
Princess Diana
Back Issues
More Back Issues
 
 
 
 
 
 

 

web
analytics
 


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Black Tie Philanthropy Giving  1
E-mail this link to your Friends:
Black Tie International: Chase
 

Chase Donates $25 Million to Support U.S. Small Businesses

Chase Donates $25 Million to Support U.S. Small Businesses

Grants double capital in hard-to-reach communities for small business lending,
spurs job creation

New York, January 28, 2011 – Continuing its support of small businesses, Chase announced today $25 million in grants to Community Development Financial Institutions (CDFIs) serving hard-to-reach communities. 

The newest initiative in today’s challenging credit environment is part of Chase’s $100 million commitment to strengthen CDFIs, which are financial institutions that lend to low-income persons and businesses in struggling communities for community development purposes.

“I am proud to further increase our support for small businesses with $25 million in grants to CDFIs,” said Jamie Dimon, Chairman & CEO of JPMorgan Chase. “Small businesses are critical to our economy and they need permanent capital to strengthen their balance sheets in order to grow. Our $25 million funding initiative, when leveraged with private capital and government programs, will increase lending to small businesses by $125 to $250 million.”

Grants range from $2 million to $5 million for institutions across the country:

·         ACCION Texas-Louisiana, an alternative lender in Texas and Louisiana

·         Valley Economic Development Center, Inc., the largest nonprofit small business development corporation in Los Angeles, California

·         Opportunity Fund, a lender and technical assistance provider that meets the capital needs of low-income entrepreneurs in the San Francisco Bay Area

·         First State Community Loan Fund, a growing CDFI that provides significant lending and technical assistance in Delaware, and

·         Enterprise Cascadia, a creditor and consultant to small businesses, community facilities, nonprofit organizations and consumers in Washington and Oregon

These grants will in most cases double the existing capital bases of the organizations and allow them to grow in a way they cannot today. Additional grants will be announced at a later date.

“We thank Chase for its generous support and continued leadership in the CDFI industry,” said Jeannine Jacokes, Chair of the CDFI Coalition. “With these funds, the industry will be able to continue its efforts to further small business growth and strengthen some of our most underserved communities.”

Over the last 18 months, Chase has taken additional steps to support small businesses, including lending 40 percent more in 2010, becoming the #1 Small Business Administration lender in the United States and encouraging economic development through innovative programs such as Chase’s “Loan for Hire,” which reduced the interest rate on a small business loan for every new employee the business hires.

Chase has partnered with top-tier CDFIs for more than 20 years and remains a national leader in its financing. Over the last three years, Chase provided more than $1 billion in loans, grants and investments to CDFIs and their affiliates, committing $100 million toward CDFIs last year: $50 million for charter schools, in conjunction with a larger $325 million charter school initiative; $25 million to small businesses; and $25 million for other community needs, to be announced at a later date.

Nationwide, there are more than 1,000 CDFIs with a collective $25 billion in assets. The primary mission of CDFIs is community development and the development of programs and strategies to meet the needs of low-income communities. CDFIs provide comprehensive credit, investment, banking and development services and are certified by the U.S. Department of Treasury’s CDFI Fund. They have lent and invested billions of dollars in our nation’s most distressed and underserved communities, through innovative products and services that effectively meet the needs of low-income individuals and communities, and respond quickly and effectively to community needs in a way traditional financial services firms cannot.

 

About Chase

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of
$2.1 trillion and operations in more than 60 countries. Chase serves consumers and small businesses through 5,200 bank branches, 16,000 ATMs, mortgage offices, and online and mobile banking as well as through relationships with auto dealerships and schools and universities. Chase also has 90 million credit cards issued. More information about Chase is available at www.chase.com.

 


Back to Philanthropy Giving


 


 




 

 
 

Launch of the First
Billion Dollar Charity Raffle.


Featured Events

 
Ann Norton Sculpture Garden
 
Kentuckey Derby
 

Featured Real Estate

 

Maplemiint Farm

 

Family Film Awards

 

Family Film Awards

 

Featured Foundations

 
chuck feeney
 
peoples money
 
international peace day
 
Gavi
 
american portrait
 
greenpeace
 
ItC for Peace
 
THE JOHN F. KENNEDY PROFILE IN COURAGE AWARD®
 
Médecins Sans Frontières
 
Nigeria Solidarity Support Fund
 
the people's vaccine
 
global citizen
 

vall to unite

 

Search the Site

 

 

Impact Investment

 
carbon geocycle
 

Black Tie China

 
ma.xiaoqiu, Dyf Entertainment
 
lang lang foundation
 

Black Tie Philippines

 
black tie philippines
 

Nightlife with Rose Billings

 
sara Johnson
 
debutante Ball
 
Judy Kuriansky
 
Gerard Mc Keon
 

Celebrity Philanthropy News
 

st_patricks_day_2020
 
sera Vergera
 
nicole Kidnman, jennifer Aniston
 
jean shafiroff, paul mc cartney
 
princess margaret of kent
 
hudson river park annual Gala
 
Al Pacino, American Icon Awards
 
clive davis
 
proincess grace awards
 
american hospital of paris foundation
 
french heritage society
 
lupus research alliance
 
un women for peace
 
ben kingsley
 
ceylon tea party
 
ecosoc
 
joyce brooks
 
central park conservatory
 
UN Correspondents Association
 
cardinal dolan
 
palm beach heart ball
 
vienese opera ball
 
lady in red gala
 
sanford stem cell
 
weizmann institute
 
carlos slim
 
israel 65th anniversary
 

Black Tie International Realty

 
secret paradise resort
 
round island, seychelles
 
 
 

Event Resources Directory

event resource directory
 
 


 

 
 
 
 
 
 
 
 
 
 
 

Copyright 2006 Black Tie Magazine. All Rights Reserved .

Privacy Policy |