JPMorgan Chase lends $10 million to nonprofit for development on South, West sides

CHICAGO — JPMorgan Chase has offered the capital to assist small business thrive on the town’s South and West sides.

On Wednesday, JPMorgan Chase executives have been at the Bronzeville Incubator to announce a $10 million commitment in financing to the Chicago Group Loan Fund to assist increase enterprise improvement on the town’s South and West Sides.

“That is what I call enterprise banking. A special approach to take a look at help accelerate and advance these communities,” Jamie Dimon, JP Morgan Chase CEO, stated.

“Entrepreneurs which are capable of get slightly bit of capital, technical and mentor ship bringing these things can spark superb innovation and jobs,” J.B. Pritzker, governor-elect, stated.

Chuck Graham has huge plans for Friistyle. The restaurant near 51st Road and Prairie Avenue is part of the Bronzeville Cookin’ initiative to develop a dining vacation spot for black cuisine.

“We just need the capital to develop and go forward and increase and start owning the properties and start franchising,” he stated.

The Chicago Group Mortgage Fund additionally introduced this week that $5 million dollars from Profit Chicago will probably be used to repurpose at the very least 5 shuttered Chicago Public Faculties.

COO Bob Tucker stated Overton Faculty in Bronzeville will grow to be a enterprise incubator.

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