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Our Progress
In 2022, we launched a Special Purpose Credit Program for small businesses in historically underserved areas and, in 2023, expanded the program to include business credit cards. Since its launch, the program has helped more than 16,000 small businesses access credit through credit cards and lending.
To learn more about our progress, see our 2023 ESG Report.
Supporting Entrepreneurs in Underserved Areas
From 1:1 coaching, to technical assistance and capital, our new investments are geared towards growing and supporting small businesses.
Investing in Minority Depository Institutions
We appreciate the unique role that Minority Depository Institutions (MDIs) play in our communities. We have exceeded our commitment included in our Racial Equity Commitment by investing more than $100 million of equity in Black, Hispanic and Latino-owned and -led MDIs and CDFIs in 2021, and we continue to provide access to our expertise, resources and network, creating opportunities for business collaboration, community engagement, and mentorship.
Increasing Supplier Diversity
Our approach to working with suppliers includes leveraging the strength of our procurement organization, business and community partners to lower the common barriers faced by small or historically underrepresented businesses. As part of our Racial Equity Commitment, we pledged to spend an additional $750 million with Black, Hispanic and Latino-owned suppliers by 2025. We reached this goal in 2023, two years ahead of schedule, and aim for this work to continue beyond the five-year commitment.
I knew if I wanted to continue expanding nationally, I needed someone to help me address specific business needs, especially related to accounting. The support and knowledge Chase for Business has provided has been a tremendous boost for Indeed Construction Clean Up.
Jackeline Enriquez, Founder Indeed Construction Clean Up
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