Developing communities

JP Morgan Chase recently announced a $3 million grant to support local community development financial institutions in the state, and the Cincinnati Development Fund was a recipient.

 

The initiative supports the collaboration of local nonprofit Community Development Financial Institutions (CDFIs) to bolster small-business lending and community development financing in distressed neighborhoods.

 

According to the bank, Cincinnati — along with Cleveland and Columbus — was chosen because it has neighborhoods experiencing impacts of gentrification as real estate markets improve and attract market rate investments.

 

To read more about the bank’s initiative, visit JPMorgan Chase & Co.

Read more articles by Soapbox Staff.

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