Naperville Business Law Attorney Discusses Bank’s Promise to Help Chicago

Chicago, Naperville business law attorneyOver the last two years or so, national headlines and news reports have questioned the reasons behind the uptick in gun violence and other crimes throughout the greater Chicago region. Even President Donald Trump himself has taken notice of the severity of the problem. Many believe that the city’s crime concerns are tied very closely to the lack of available opportunities for those who live in the region’s poorest neighborhoods. This week, the nation’s largest bank announced that it will be taking action to help revitalize the city and, hopefully, create new alternatives to a life of crime.

As a business lawyer living in Northern Illinois, I am fully aware of deep the city’s crime problem has become. I am also hopeful that with the help of JPMorgan Chase and efforts by law enforcement leaders, the Windy City can begin to turn things around quickly.

JPMorgan Chase Pledges $40 Million

Three years ago, JPMorgan Chase committed $100 million to help the city of Detroit rebuild after years of economic problems. While that amount grew by another 50 percent earlier in 2017, Chase, it seems, has even more to give. This week, officials from America’s largest bank announced that they would continue to follow the company’s philanthropic plan of helping the areas of the nation most in need. The bank promised $40 million over the next three years to promote growth and revitalization on Chicago’s South and West sides.

According to news reports, the money will be used to create various training programs and to support redevelopment projects in blighted neighborhoods. Some of the funds will also be directed toward small business loans, allowing entrepreneurs and would-be business owners to get the funding they need with reasonable interest rates. Chase’s investment will also help provide financial education to low-income households with the goal of teaching the city’s residents how to better manage personal finances.

“We believe in Chicago’s future,” said Jamie Dimon, CEO of JPMorgan Chase. “[We] are hopeful our investment will help the city thrive and make opportunity available to every Chicagoan.”

Small Business Questions?

If you are looking to start a business and have questions about taking the first steps, contact an experienced business law attorney in Naperville for answers. At The Gierach Law Firm, we are committed to helping clients realize their dream of business ownership. Call 630-756-1160 for a confidential consultation at our law firm today.

 

Sources:

Crain’s Chicago Business

CNBC