When Courtsmith's founder set out to scale an athletic apparel brand in Oakland, California, the company had just four employees and one full-time role. Today, after securing support from ICA Fund—an organization backed by JPMorganChase's philanthropic investments—Courtsmith has expanded to 13 employees with 11 full-time positions, and revenue has surged 259 percent since 2021. This single success story captures the ripple effect that JPMorganChase's nearly $40 million in new philanthropic investments is designed to create across America.
The bank announced this funding commitment as part of National Small Business Month, channeling money through its American Dream Initiative to strengthen lending capacity and technical assistance for entrepreneurs nationwide. The goal is ambitious but grounded in measurable targets: these investments are expected to help thousands of small businesses access over $500 million in capital—more than thirteen times the initial philanthropic investment—while creating or retaining roughly 6,000 jobs.
Small and mid-sized businesses form the economic backbone of communities, yet many entrepreneurs struggle to find capital at the right moment and on terms that work for them. JPMorganChase is addressing that gap by working with local community lenders and organizations already embedded in their neighborhoods. Pursuit Community Finance will use the funding to support approximately 350 early-stage businesses in New York City, Philadelphia, and Wilmington with coaching and flexible-term loans designed to bridge the gap when founders can't access friends-and-family investment. Craft3, a partner in the Pacific Northwest, will deploy long-term, low-cost loans to fund an estimated 50 small business loans across rural, urban, and Tribal communities, with expected job creation or retention of about 200 positions. Accessity is scaling microlending and technical assistance across six Southern California counties—San Diego, Riverside, San Bernardino, Orange, Los Angeles, and Imperial—aiming to help more than 650 small businesses access up to $40 million in capital and contribute to approximately 1,250 jobs.
The Minneapolis Foundation is taking a different approach, strengthening the entire ecosystem of local community small business lenders by improving systems, staffing, and shared learning. Through the GroundBreak Coalition, they aim to help 50 or more entrepreneurs access $30 million in capital.
Real-world results from past JPMorganChase support show why this matters. Bairitone Health in Houston developed an innovative wearable device for sleep challenges and gained access to investors and mentors through the JPMorganChase-supported Institute for Entrepreneurial Leadership Capital Circles Initiative, securing $380,000 to launch operations. When co-owners of 2Latinos Latin Market in Opelika, Alabama, needed both capital and guidance, Camino Loan Fund—a participant in the JPMorganChase-led Alabama Capital Access Collective—helped them navigate permits and operational requirements. The result: monthly revenue climbed from approximately $16,000 to $50,000 within two months.
Shaolee Sen, Head of Small Business for Corporate Responsibility at JPMorganChase, captured the philosophy driving this work: "Small business owners don't just need capital—they need the right capital at the right time, delivered through trusted pathways that meet them where they are." By partnering with organizations rooted in local communities, JPMorganChase is helping entrepreneurs move past barriers and build lasting businesses that strengthen neighborhoods from coast to coast.