JPMorganChase Expands Support for Detroit Small Businesses through Hiring, Coaching, and $2.25M in New Philanthropic Funding

DETROIT, MI (May 19, 2026) — At its Chase for Business: The Experience — Detroit event, JPMorganChase announced expanded support for Detroit small businesses—hiring more local business bankers, scaling its Coaching for Impact program, and committing $2.25 million in new philanthropic funding to help entrepreneurs overcome obstacles and grow.

“Detroit’s economy is powered by the people who choose to build here, and small businesses are at the heart of that,” said Jamie Faber, Michigan Business Banking Market Manager. “We’re proud to stand alongside Detroit’s small business owners with the capital, advice, and connections they need to grow, create jobs, and strengthen the neighborhoods they call home.”

Scaling What Works: The American Dream Initiative

JPMorganChase recently announced its American Dream Initiative to help make the economy work for more people—starting by powering 10 million small businesses over the next several years with the capital, coaching, tools, and practical policy solutions they need to thrive. As part of the American Dream Initiative, JPMorganChase plans to graduate more than 1,200 additional entrepreneurs from its Coaching for Impact program in Detroit over the next five years. The program provides free one‑on‑one consulting, executive coaching, and on‑demand education to help small businesses strengthen operations, improve credit readiness, and prepare for procurement and growth opportunities. Nationwide, more than 12,000 entrepreneurs have graduated from the program since its launch—with more than 375 in Detroit.

JPMorganChase also plans to add 15 business bankers in the Detroit metro area, increasing its local business banker coverage by nearly 30% over five years. These bankers work directly with entrepreneurs—providing financial advice, access to capital, and connections to resources that help small businesses invest, expand, and navigate economic challenges.

$2.25 Million in Philanthropic Support for Detroit’s Small Businesses

JPMorganChase is announcing $2.25 million in new philanthropic grants to local organizations to help strengthen Detroit’s small business ecosystem and support its entrepreneurs—particularly those helping revitalize Detroit neighborhoods. Together, these grants will help expand access to capital and technical assistance to nearly 600 small businesses across Detroit, helping them overcome obstacles and contribute to the city’s renaissance.

Among the organizations supported are:

• ProsperUs Detroit: to strengthen and expand technical assistance offerings for approximately 80 local businesses in the contracting and real estate industries, aiming to help small businesses increase revenue by $30,000 on average.
• Detroit Development Fund (DDF): in support of DDF’s Neighborhood Revitalization Program, which provides technical assistance to help spur the redevelopment of abandoned and underutilized spaces throughout Detroit by contractors and small businesses.
• Invest Detroit: to expand flexible capital, advisory services, and technical assistance that help emerging and experienced developers advance real estate projects and drive neighborhood revitalization in low- to moderate-income Detroit communities.
• Accounting Aid Society: to provide personalized technical assistance—including financial tools, software adoption, tax preparation, and incorporation support—helping low‑ to moderate‑income entrepreneurs improve revenue growth, establish business credit, and strengthen the long‑term sustainability of their businesses.

Earlier this year, we also provided $500,000 to support IFF’s Stronger ECE Spaces program, an effort to support the entrepreneurs behind Detroit’s early childhood education centers with the technical assistance and financial tools they need to overcome obstacles and grow.

“Entrepreneurship can be a powerful driver of economic mobility and neighborhood revitalization,” said Paul Jones, CEO of ProsperUs Detroit. “With support from JPMorganChase, we are expanding access to the capital, education, and business support that entrepreneurs need to grow thriving businesses, build wealth, and strengthen their communities. This investment helps create more equitable pathways to opportunity for entrepreneurs who have too often been overlooked or excluded.”

“Supporting small businesses takes more than capital—it requires a strong network of business, nonprofit, government and community partners working together,” said Katrina Chaves, Vice President, Global Philanthropy, at JPMorganChase. “As part of our American Dream Initiative, we’re proud to continue strengthening the organizations that help entrepreneurs overcome barriers, scale their businesses, and drive Detroit’s future.”

Building on our Enduring Commitment to Detroit

Today’s announcement builds on JPMorganChase’s longstanding commitment to Detroit, which has surpassed $2 billion in business and philanthropic investments since 2014. These investments have helped drive progress across real estate, small business growth, housing, workforce development, and financial health.

JPMorganChase’s support of Detroit’s small businesses has included more than $568 million in lending and credit and over $37 million in philanthropic grants for local nonprofit organizations since 2014. Together, these investments have helped small businesses increase revenues by $13.7 million and create or retain more than 20,000 jobs by expanding access to capital, coaching, and technical assistance for underserved entrepreneurs.

About Coaching for Impact

Launched in 2020, Coaching for Impact is a complimentary service offering consulting and executive coaching to help businesses thrive and grow. The program pairs small business owners with a senior business consultant who understands today’s challenges and opportunities. Beyond core banking needs, the curriculum focuses on strengthening operations, improving credit readiness, and preparing businesses for the next phase of their journey. Since its inception, the program has scaled from four cities and eight consultants to more than 85 consultants in over 45 cities, graduating more than 12,000 businesses nationwide. Learn more about Coaching for Impact at www.chase.com/business/coaching-for-impact.

About the American Dream Initiative

JPMorganChase’s American Dream Initiative is a multi-year effort to expand economic opportunity by scaling proven solutions that help the economy work for more people. Through the Initiative, the Firm will provide financing, facilitate capital, offer advice, training and tools, and advocate for policy solutions help people start and grow small businesses, find affordable places to live, save and plan for their financial futures, get good jobs, access quality healthcare and strengthen local institutions.

The Initiative will start with a firmwide effort to support 10 million small businesses—up from seven million served today—and scale its support for small businesses by hiring 1,000+ business bankers, nearly doubling its Small Business Consultants, scaling Coaching for Impact to graduate 115,000 entrepreneurs in more markets and committing $80 billion in lending over the next 10 years, alongside local investments in events nationwide. For more information on the American Dream Initiative, visit www.jpmorganchase.com/America.

About JPMorganChase

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.9 trillion in assets and $364 billion in stockholders’ equity as of March 31, 2026. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.