Business
African American-owned businesses to benefit from $30 Million in lending with help from VEDC and JPMorgan Chase
About VEDC: VEDC is a leading non-profit small business lender that is changing the way small business lending is done by making it more available and impactful. With a growing footprint, VEDC has lent US$380 million in direct and guaranteed loans to over 104,000 small businesses and created more than 28,000 new jobs.
VEDC’s mission, as a certified Community Development Financial Institution, is to help create jobs and promote small business development in under-served communities. It provides loans and micro-financing options to small businesses, particularly those owned by women and minorities, that do not qualify for traditional financing. VEDC’s expanding portfolio is composed of community-based loan funds in California, Illinois, Nevada, Utah, New Jersey, Connecticut, Florida and New York. For more information, visit www.vedc.org.
About JPMorgan Chase & Co.: JPMorgan Chase & Co. is a leading global financial services firm with assets of US$2.4 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.
A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. The firm uses its global resources, expertise, insights and scale to address some of the most urgent challenges facing communities around the world including the need for increased economic opportunity. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
