Chase Provided Over US$10bn of Credit to 250,000 Small Businesses in 2010
Chase has exceeded its goal of providing US$10bn of credit to American small businesses in 2010. The loans were extended to more than 250,000 small businesses with annual sales of less than US$20m by Chase’s business banking, commercial banking and business card businesses. Year-to-date, Chase’s lending to small businesses is up more than 40%.
“Small businesses are putting these loans to use every day in cities and towns all across the country, creating jobs and helping our economy get back on its feet,” said Michael Cleary, chief executive officer (CEO) of business banking in retail financial services.