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:

JPMorgan Chase lends $10 million to nonprofit for development on South, West sides

WGN-TV, Gaynor Hall, Wednesday, December 12, 2018

JPMorgan Chase lends Chicago nonprofit $10 million to fund development on South and West sides

Chicago Tribune, Lauren Zumbach, Wednesday, December 12, 2018

JPMorgan Chase Commits $10 Million to Boost Small Business and Retail Storefronts on Chicago’s South and West Sides

Marketwatch, Wednesday, December 12, 2018

Chase ups the ante with $10M for South and West side retail rehab

Crain’s Chicago Business, Steve Daniels, Wednesday, December 12, 2018

JPMorgan Chase is investing $10 million into Chicago’s South and West Sides as part of a $500 million worldwide plan

Business Insider, Richard Feloni, Wednesday, December 12, 2018