JP Morgan Chase has announced that it has raised approximately $90 billion in financing for local governments and nonprofit organizations throughout the country in the past nine months.
Reportedly, the bank has provided $90 billion to non-profit and healthcare companies, universities and state and local governments, helping them to build bridges and parks, improve social services, train young people for jobs, expand hospitals and fund medical research, across the nation.
The bank has said that its lending service helped to keep communities moving forward during the recent market turmoil and helped the nation grow through support in the sectors that include: $62 billion for state and local governments; $11 billion for healthcare organizations; $15 billion for education organizations; and $1.6 billion for other non-profits groups.
Todd Maclin, CEO of Chase Commercial Bank, said: “From the time our country faced its toughest moments in the financial crisis, we have been dedicated to local governments and the organizations at the heart of our communities that Americans have come to depend on. We have always been committed to the communities that we serve, but funding for these organizations is more crucial now than ever before.”
