JPMorgan Helps Expand Loan Program for Minority Business Owners

JPMorgan Chase & Co. and two partners added $6.65 million into a fund that offers loans to non-white business owners as the Wall Street bank’s program to support minority entrepreneurs expands into the Washington, D.C., region.

Capital Impact Partners and A. James & Alice B. Clark Foundation together donated $3 million of the total, according to a statement issued Feb. 11. JPMorgan’s four-year-old Entrepreneurs of Color Fund will use the money to make loans in and around the capital, from Baltimore to Northern Virginia.

Non-white small-business owners face investor bias, are more likely to be denied credit and are more ...