Chase Donates US$25m to Support US Small Businesses
Continuing its support of small businesses, Chase has made US$25m in grants to community development financial institutions (CDFIs) serving hard-to-reach communities. The initiative is part of Chase’s $100m commitment to strengthen CDFIs, which are financial institutions that lend to low-income persons and businesses in struggling communities for community development purposes.
Grants range from US$2m to US$5m for institutions across the country:
“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.”