JPMorgan Chase plans to increase small business lending and hire 1,000 credit officers as part of the bank’s “American Dream Initiative,” the company said on March 31.
Over the next 10 years, JPMorgan intends to deploy $80 billion in small‑business financing, delivered directly or in partnership with community development banks and federal programs.
The New York-based bank will hire an additional 1,000 small‑business credit officers and 150 senior business consultants. Hiring will be centered in Alabama, Philadelphia, Atlanta, Los Angeles, and San Francisco, the company noted, to bolster local economies.
It will also expand its coaching program to reach 115,000 small‑business owners, offering guidance on everything from cash‑flow management to health‑care and payroll issues….