On Wednesday, December 12, 2018, JPMorgan Chase announced a commitment of $10 million in long-term, low-cost capital to support commercial real estate development on Chicago’s South and West sides.
“I want to thank you for recognizing it takes big, bold steps to address joblessness, poverty and lack of retail available on Chicago’s West and South sides,” said Calvin L. Holmes, CCLF President. “I was astounded by JPMorgan Chase’s $40 million commitment to Chicago neighborhoods last year, but I am humbled by the trust in Chicago Community Loan Fund to expand on that commitment with another $10 million for commercial retail development. CCLF accepts the challenge to put this new source of low-cost capital into projects that will bring goods and services back to the neighborhood.”
Noted below are links highlighting media coverage of the JPMorgan Chase announcement with CCLF:
WGN-TV, Gaynor Hall, Wednesday, December 12, 2018
Chicago Tribune, Lauren Zumbach, Wednesday, December 12, 2018
Marketwatch, Wednesday, December 12, 2018
Crain’s Chicago Business, Steve Daniels, Wednesday, December 12, 2018
Business Insider, Richard Feloni, Wednesday, December 12, 2018