JPMorganChase Strengthens Commitment to Boston's Small Businesses with $1.3 Million in Grants and 1:1 Coaching Program

Boston, MA – June 12, 2025 – JPMorganChase announced it is doubling down on its commitment to empowering small businesses in Boston with a series of philanthropic grants totaling more than $1.3 million. These grants, awarded to the Local Enterprise Assistance Fund, Philanthropy Massachusetts, and the Boston Impact Initiative Fund, are designed to help local small businesses increase revenue, improve operations, and create wealth-building opportunities for their communities, while addressing the challenges of accessing technical assistance and capital.

Small business owners often face challenges in accessing capital, customers, and connections specific to their community to help their businesses grow. As the nation’s leading small business bank, JPMorganChase is committed to strengthening local ecosystems by helping to fill critical gaps, improving coordinated delivery, and expanding the capacity of local and national business support organizations. These organizations provide customized assistance, coaching and mentoring for businesses at all stages of growth, as well as flexible capital solutions. Over the past five years, JPMorganChase has deployed $2.7 million to help drive small business growth in Boston, reaching more than 1,100 small businesses.

“When small businesses succeed, they strengthen their communities by creating jobs, boosting local economies, and expanding opportunities,” said Ben Walter, CEO of Chase for Business. “These grants, alongside our Coaching for Impact program, provide business owners with the resources, relationships, and confidence to build lasting legacies—not just for themselves, but for their neighborhoods and for future generations.”

Unveiled at “The Experience: Boston” – a dynamic, day-long event hosted by the firm to unite small business owners, entrepreneurs, funders, and community leaders for networking, learning, and growth opportunities – these grants include:

• Local Enterprise Assistance Fund ($800,000): With support from JPMorganChase, the organization will scale their Elevate Small Business program providing one-on-one business advisory services to serve an additional 200 small businesses and facilitate access to capital for clients, and support procurement and access to contracts with anchor institutions through their UpLiftProcure platform.
• Philanthropy Massachusetts ($200,000): Philanthropy Massachusetts will pilot a funder network across Massachusetts prioritizing small business development, convening funders and creating a learning platform to deepen knowledge of the challenges small businesses face in accessing technical assistance and capital, while exploring viable solutions to collective funding across the network.
• Boston Impact Initiative Fund ($315,000): Funding will support Boston Impact Initiative (BII) with scale of the Accelerate Your Impact Program providing hands-on coaching on topics such as business plan review, financial projections, pitch deck preparations to name a few. BII will also support participating businesses in the program with access to capital from the organization’s fund and connections to additional capital providers in Massachusetts.

These grants are part of JPMorganChase’s broader commitment to help create economic growth for all and the Coaching for Impact program builds on the firm’s longstanding support of small businesses, which so far has graduated more than 300 small business owners in Boston. The program helps business owners achieve their goals and grow their business through 1:1 consulting and executive coaching, accessible on-demand education, and banking solutions.

“We are grateful to JPMorgan Chase for its generous support of Boston Impact Initiative’s business support programs, which has been a game-changer for our organization and the entrepreneurs we serve, many of whom face systemic barriers to capital and business resources. This funding enables BII to expand our bilingual Accelerate Your Impact coaching services and integrated capital workshops that reach over 130 businesses annually,” said Betty Francisco, CEO of Boston Impact Initiative (BII). “JPMorganChase has helped BII build new partnerships and networks, grow our capacity, identify new funding sources and strengthen the entrepreneurial ecosystem to help these changemakers and strengthen economic opportunity in our communities.”

“Small businesses are the backbone of Greater Boston’s economy, yet many struggle to access the institutional procurement markets that could transform their growth trajectory. Through JPMC's strategic investment, LEAF has expanded its Elevate Small Business (ELEVATE) program to bridge this critical gap and provide small business owners with wrap-around services of financial management advisory and customized financing solutions, providing both the capital and expertise needed to meet institutional procurement standards,” said Amine Benali, Managing Director at LEAF. “Over the past five years, LEAF has financed 29 small businesses through ELEVATE, and with this support from JPMorganChase, we will connect more businesses to procurement opportunities that generate the predictable revenue streams essential for sustainable growth and job creation in our communities.”

“Funders recognize that small businesses are critical engines of growth for the local economy,” said Mary Skelton Roberts, CEO of Philanthropy Massachusetts. “With this investment from JPMorganChase, our organization will be able to develop a network of funders to use their knowledge, resources, and power to position the state’s robust small business ecosystem for increased growth and success.”

JPMorganChase in Greater Boston

JPMorganChase is helping to drive economic growth throughout the region by increasing support for small businesses, connecting residents to jobs and skills resources, and expanding access to financial services. Since 2019, the firm has committed $31.5 million to help individuals build generational wealth and create meaningful employment opportunities. Additionally, the firm’s Community Center branch in Mattapan opened in 2021, providing banking services and financial education to people who might not otherwise have access.

About “The Experience: Boston”

The Experience is a complimentary, all-day expo where business owners gather for a day of networking, workshops, informational sessions and more. Hosted at Boston’s SoWa Power Station, the event is like a small business boot camp. Participants take away personalized marketing advice and best practices from one-on-ones with experts related to branding and digital marketing – helping them remain competitive in today’s market. Mainstage programming includes special guests, from small business experts to local celebrities.

About Coaching for Impact

Launched in 2020, the Coaching for Impact program is a complimentary service offering consulting and executive coaching to help businesses thrive and grow. This initiative pairs small business owners with a senior business consultant with a deep understanding of the challenges faced by businesses today. The Coaching for Impact curriculum extends beyond core banking needs, focusing on strengthening operations, improving credit readiness, and preparing businesses for the next phase of their journey. While primarily designed for businesses with over two years of operation, entrepreneurs at any stage are welcome to inquire about the program. Since its inception, the program has seen significant growth. Starting in four cities with eight senior business consultants, it expanded to 82 consultants in 38 cities by the end of 2024. Coaching for Impact has consulted and graduated approximately 8,700 businesses to date, demonstrating its commitment to empowering businesses across various stages of their development.

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 $4.4 trillion in assets and $351 billion in stockholders’ equity as of March 31, 2025. 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.