JPMorgan Chase has launched the American Dream Initiative to expand economic opportunity across the United States. CEO Jamie Dimon stated the multi-year effort targets individuals for whom economic stability is becoming inaccessible.
The program focuses on six key areas, including housing affordability, financial health, and healthcare access. Small businesses serve as the initial emphasis for the initiative.
The bank plans to grow its small business client base from seven million to 10 million. JPMorgan will provide nearly $80 billion in small-business lending over the next decade. The initiative also includes hiring 1,000 additional small-business bankers to provide coaching and assistance to entrepreneurs.