J.P. Morgan has committed $2 million to support Chicago’s small businesses. The capital is part of a planned $40 million package to drive economic growth in Chicago’s distressed South and West sides.
“We all know that Chicago is a segregated city and there’s not the same access and opportunities in some neighborhoods as others,” J.P. Morgan Chase Foundation’s Charlie Corrigan said.
The funding was allocated to a half-dozen small-business support organizations including IFF Chicago, a real estate firm that supports non-profits in low-income communities.
The others were 1871, Illinois Hispanic Chamber of Commerce Foundation, Blue1647, Women’s Business Development Center, World Business Chicago and Sunshine Enterprises.
J.P. Morgan’s work in underserved urban communities includes a planned $150 million to invested in Detroit by 2020 and a recent $10 million commitment to Washington D.C.
