JPMorgan Chase Commits $15 Million to Expand Economic Growth in Detroit’s Neighborhoods
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: Business Wire
New investment in Strategic Neighborhood Fund is part of JPMorgan Chase’s $150 million commitment to Detroit’s comeback DETROIT--(BUSINESS WIRE)-- JPMorgan Chase has committed $15 million to support Detroit’s neighborhoods to help more Detroit residents benefit from the city’s continued economic recovery. As part of JPMorgan Chase’s $150 million, five-year commitment to Detroit, this new investment, which combines a $10 million, long-term, low-cost loan and $5 million in philanthropy, is expected to expand economic opportunity in these neighborhoods. These commitments will enable the Strategic Neighborhood Fund to finance critical neighborhood projects that lack access to traditional financing, help attract additional capital, and over time provide local residents with more access to affordable housing and goods and services where they live and work. The announcement was made today at the
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