UPDATE 2-JPMorgan says it has handled $17.8 bln under emergency aid program [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
JPMorgan says it has handled $17.8 billion under emergency aid program - Reuters 4 Min Read NEW YORK/WASHINGTON (Reuters) - JPMorgan Chase & Co ( JPM.N ) said it has submitted roughly 220,000 applications worth $17.8 billion to the Small Business Administration’s Paycheck Protection Program to help small businesses hurt by the coronavirus shutdown. The bank shared the number in a memo sent to customers late on Wednesday that was apparently meant to address a decision by the government to temporarily shut the program to big banks. In an email to Reuters on Thursday, JPMorgan said the average loan size was around $81,000, and roughly half of the applications were filed by businesses with fewer than five employees. About 80% of the applications, which were submitted earlier this week, were for less than $100,000 and about 40% were for less than $25,000, the bank said. The SBA said that as of 5 p.m. EDT on Wednesday, 5,300 lenders had originated 960,000 loans worth nearly $90 billion in
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JPM
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- 10/14/25 - Beat
JPM
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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