JPMorganChase Commits $18 Million to IFF to Increase Access to Capital For Nonprofits in Chicago and the Greater Midwest

Today, JPMorganChase announced a $15 million loan and $3 million grant to IFF, a leading mission-driven lender and one of the nation’s largest nonprofit Community Development Financial Institutions (CDFIs). The investment will help IFF access flexible, low-cost capital, remove barriers impeding their growth, and provide nonprofit leaders with greater access to financial management tools, real estate planning resources, and networks.

The $3 million grant to IFF will support the organization’s Stronger Nonprofits Initiative (SNI), which builds the financial capacity of nonprofits, recognizing the significant barriers that nonprofit leaders face in accessing capital and real estate opportunities. SNI, which launched in partnership between JPMorganChase and IFF in 2017, has built an innovative model to help support nonprofit leaders in increasing their financial expertise and capacity to expand and grow their real estate footprints.

The new $15 million loan from JPMorganChase’s Impact Finance & Advisory team will finance IFF’s origination of loans to nonprofits and affordable housing developers for facility acquisition, new construction, renovation, and equipment, prioritizing efforts toward SNI graduates and participants and the Flex Loan program, which offers loans up to $50K with a streamlined application process.  

“By supporting nonprofit organizations as they invest in new commercial real estate developments to bolster their impact in communities across Chicago and the Midwest, we’re helping to power economic growth across the entire region,” said Shuman Chakrabarty, Head of Impact Finance & Advisory at JPMorganChase.

"We are proud to help nonprofits in Chicago remove barriers that prevent growth and empower nonprofit leaders with greater access to financial management tools and real estate planning resources they need to succeed,” said Damion Heron, Midwest Region Executive and Executive Director for Community and Stakeholder Engagement, JPMorganChase.

“We are grateful for JPMorganChase’s commitment to IFF and to helping further our mission to invest in community changemakers not only with capital, but also with supplementary tools that we know are crucial in supporting nonprofits’ long-term sustainability,” said Kirby Burkholder, President of Core Business Solutions, IFF.

Headquartered in Chicago, IFF is dedicated to making a lasting impact in communities where traditional financing options are scarce. Since its founding in 1988, IFF has driven impact by providing flexible loans, real estate services, and community development support, including expanding its Flex Loan Program to offer low-cost capital to these underserved nonprofits, empowering them to overcome structural barriers and foster financial stability.

At least 70% of the capital will be deployed in Chicago, with a focus on serving organizations, including schools, health clinics, and community centers, in low- to moderate-income (LMI) census tracts. The SNI grant will benefit nonprofit organizations in multiple Midwest cities, including Chicago, Detroit, Cleveland, Indianapolis, Columbus, and St. Louis. These investments underscore JPMorganChase's commitment to community development and financial inclusion, ensuring that nonprofits and affordable housing developers have access to the technical expertise and capital that they need to succeed.

Serving Chicago for more than 160 years

For more than 160 years, JPMorganChase has brought the best of its business to help power Chicago’s economy and serve its communities. Across Greater Chicago, the firm currently serves more than 4.2 million consumers and 380,000 small businesses through more than 270 local Chase branches – including the Stony Island Community Center branch that works to expand access to banking and boost financial health among underserved communities.

Since 2017, the firm has committed to providing $200 million in philanthropic capital and low-cost loans to address decades of disinvestment in Chicago’s South and West sides. The firm has also provided more than $17 billion over the last five years to help finance Chicago’s essential institutions, including hospitals, schools, colleges, universities and other large corporations and employers.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.35 trillion in assets and $351 billion in stockholders’ equity as of March 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P.Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About IFF

Grounded in equity and deep sector expertise, IFF is a mission-driven Community Development Financial Institution (CDFI) that champions nonprofits to shape more equitable and vibrant communities through community-centered lending, development, and real estate consulting. Since 1988, IFF has been working at the intersection of facilities and finance and has provided $1.8 billion in flexible, affordable financing to nonprofits serving a variety of sectors in order to increase their financial stability and programmatic offerings. Headquartered in Chicago, IFF is one of only a few CDFIs nationally to hold the top-ranked Aeris four-star rating for impact management and AAA rating for financial strength and performance. IFF serves the Midwest from regional offices in Cleveland, Columbus, Detroit, Grand Rapids, Indianapolis, Kansas City, Milwaukee, and St. Louis. To learn more visit iff.org.