Small businesses and entrepreneurs are vital to prosperous, thriving communities. They spot new market opportunities, generate innovative products and services, and help create more diverse cities. They also generate jobs, effectively demonstrating that when small businesses thrive, so do communities and the nation’s economy.
JPMorgan Chase is proud to be a leader in providing the capital and resources that small businesses across the United States need to grow and prosper. In addition to our banking services, we fund innovative approaches and organizations that help small businesses become more successful. In 2014, we launched Small Business Forward, a $30 million, five-year initiative to support the nonprofits that help grow clusters of small businesses.
Provided grants to 13 sector-focused small business clusters in the United States and Europe as part of our Small Business Forward initiative, which aims to support entrepreneurs and catalyze small business development
Provided $19 billion in new credit to U.S. small businesses and ranked as the U.S. Small Business Administration’s #1 lender by units to women- and minority-owned businesses for the third consecutive year
Through our Mission Main Street Grants® program, awarded $3 million to 20 small businesses around the United States that make a positive impact in their communities
At Work In:
Fast Forwarding Small Businesses
One of our first Small Business Forward seed markets was New Orleans, where we provided $200,000 to the New Orleans BioInnovation Center, a nonprofit biotechnology incubator that serves fast-growing, small life sciences companies. The BioInnovation Center offers its tenants access to commercialization assistance, loans and workforce development support, as well as introductions to potential researchers, collaborators and specialized service providers.Find Out More
Theodent, a New Orleans BioInnovation Center tenant, won the internationally acclaimed Red Dot Award: Product Design, is carried by Whole Foods Market and has been featured in numerous publications for its innovative dental care product.
“The recovery under way in New Orleans has created a favorable business environment that is vital to our efforts to build a new economy. We have experienced the impact that targeted support and investment have in establishing a new economy based on knowledge, technology and innovation. We’ve also seen the critical role that small businesses play in facilitating growth and creating opportunities. By providing focused support for bioscience start-ups, the New Orleans BioInnovation Center is helping accelerate our city’s recovery.”