In today’s economic landscape, small businesses play a pivotal role in driving local economic growth, creating new job opportunities, and providing a plethora of options for residents. At JPMorganChase, we take great pride in being the leading small business bank in the nation, serving over 6 million small businesses across diverse communities, from small rural towns to bustling urban cities.
We are dedicated to providing small business owners with the necessary resources to overcome obstacles and achieve their growth aspirations through mentorship, training, and access to capital. Our range of services extends from basic financial products such as checking accounts, savings, and credit cards to more advanced offerings including wire transfers, digital payments, payment acceptance, lending, and cash management services.
Our commitment to small businesses extends beyond financial services. We offer one-on-one coaching through our team of senior small business consultants, educational events, and community workshops to provide entrepreneurs with expert guidance and support. Additionally, we have been proactive in promoting opportunities for businesses to participate in procurement, thus facilitating their growth and success.
We take immense pride in making a tangible impact on the success stories of countless entrepreneurs. For example, Diana Martinez was able to expand her waste management company in the Dallas-Fort Worth area with the support of JPMorganChase, creating employment opportunities and contributing to cleaner communities. Similarly, our collaboration with Fire-Dex has enabled the provision of protective equipment to firefighters in 100 countries and all 50 states, ensuring their safety in the line of duty.
Furthermore, our focus on supporting small, local businesses extends to Detroit, where we have been instrumental in helping over 13,000 small business owners contribute to the city’s revitalization and the strengthening of the local economy. Our determination to foster inclusivity led us to develop a special purpose credit program aimed at expanding access to credit in majority Black, Hispanic and Latino communities, promising equal opportunities for business owners regardless of their background.
The year 2023 saw the launch of our new resource center, providing educational content and advice to aid both early-stage and established entrepreneurs in achieving their goals. Additionally, our accelerator programs, conducted in collaboration with industry and advocacy organizations, have provided crucial business education, coaching, and resources to support the growth of business leaders.
Our unwavering commitment to small businesses has translated into remarkable statistics, with over 6 million small and mid-sized business customers served, and a staggering $4 billion in loans and lines of credit provided to small businesses in 2023. Furthermore, our mentorship program has reached thousands of small business owners, and we have invested over $2 billion in Tier 1 diverse suppliers.
At JPMorganChase, our objective is clear – we are devoted to breaking down barriers for small businesses, enabling them to thrive and succeed. We firmly believe that the success of small businesses is the cornerstone of strong communities and a resilient economy.
In conclusion, our commitment to empowering entrepreneurs and building strong communities is unwavering. Through our array of services, mentorship programs, and educational resources, we aim to create opportunities, remove barriers, and build a future where small businesses can flourish. JPMorganChase stands as a dedicated partner to entrepreneurs, committed to their growth, success, and the prosperity of the communities they serve.