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J.P. Morgan has committed $2 million to support Chicago’s small businesses. The capital is part of a planned $40 million package to drive economic growth in Chicago’s distressed South and West sides.
“We all know that Chicago is a segregated city and there’s not the same access and opportunities in some neighborhoods as others,” J.P. Morgan Chase Foundation’s Charlie Corrigan said.
The funding was allocated to a half-dozen small-business support organizations including IFF Chicago, a real estate firm that supports non-profits in low-income communities.
The others were 1871, Illinois Hispanic Chamber of Commerce Foundation, Blue1647, Women’s Business Development Center, World Business Chicago and Sunshine Enterprises.