JPMorgan’s goal is to increase its small business clients from 7 million to 10 million as part of a program announced Tuesday named the American Dream Initiative, which also includes goals for boosting affordable housing, healthcare access and workforce training.
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The bank expects to lend $80 billion to small businesses directly or through community development financial institutions or federal small-business programs over the next 10 years. It also aims to expand a coaching program to reach 115,000 small business owners, offering advice in areas such as payroll, cash flow management, healthcare and retirement plans for employees.
JPMorgan to increase small-business lending, hire more credit officers
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