JPMorgan Helps Expand Loan Program for Minority Business Owners
- Bank, Capital Impact, Clark Foundation chip in $6.65 million
- Entrepreneurs of Color reaches to Washington, D.C., and region
Photographer: Christopher Burns
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JPMorgan Chase & Co. and two partners added $6.65 million into a fund that offers loans to non-white business owners as the Wall Street bank’s program to support minority entrepreneurs expands into the Washington, D.C., region.
Capital Impact Partners and A. James & Alice B. Clark Foundation together donated $3 million of the total, according to a statement issued Monday. JPMorgan’s four-year-old Entrepreneurs of Color Fund will use the money to make loans in and around the capital, from Baltimore to Northern Virginia.