UPDATE 1-JPMorgan Chase approved to process $15 billion in new PPP loans [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
JPMorgan Chase approved to process $15 billion in new PPP loans - Reuters 3 Min Read NEW YORK (Reuters) - JPMorgan Chase & Co ( JPM.N ) said on Friday that the U.S. Small Business Administration gave it the green light to make $15 billion in new loans to some 211,000 business customers hurt by the outbreak of the novel coronavirus. The largest U.S. bank said it expects to process a total of $29 billion in loans for around 239,000 customers as part of the government’s Paycheck Protection Program (PPP). The average of these loans is for $123,000, according to a press release. Congress gave the Small Business Administration (SBA) nearly $660 billion over the past two months for government-guaranteed, forgivable loans that businesses hurt by the epidemic could apply for at participating banks. Faced with high demand from many of the country’s roughly 30 million small businesses, the program’s success was hindered by technology failures, a lack of clarity on the rules and paperwork requi
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- 12/5/25 - Form 424B2
- 12/5/25 - Form 424B2
- 12/5/25 - Form 424B2
- JPM's page on the SEC website