Jamie Dimon on ‘FOX & Friends’: US economy, AI, the American dream and blue state exodus

JPMorgan Chase on Tuesday announced the launch of its American Dream Initiative (ADI), which will invest in communities around the U.S. through several focus areas, including one focused on driving the growth of small businesses and entrepreneurship.

The ADI aims to support small businesses by expanding their access to capital, providing advice and training, additional financial services, community investments and more.

Chase Business Banking CEO Ben Walter is leading the firm’s business growth and entrepreneurship pillar of the initiative and told FOX Business in an interview that, “We want to serve more and more small businesses to help them grow and thrive in their local communities, employ more people and drive economic success in their communities.”

“We support 7 million small businesses today. Over the next 10 years, we want to grow that to 10 million small businesses we support through core relationships. As part of that, we want to deploy $80 billion in credit to them over the next decade. That’s a lot of money any way you count it to help them grow their businesses,” Walter said.

“Critically, we want to pair that with coaching and education,” Walter said, noting that the firm currently has a Coaching for Impact program with 87 coaches who provide free coaching to small businesses around the country through a nine-month program. JPMorgan plans to nearly double the number of coaches to 150 as part of the ADI.

This is an excerpt from an article by FOX Business’ Eric Revell.