JPMorganChase has announced a commitment to support small businesses in Boston with over $1.3 million in grants. The funding will be distributed among the Local Enterprise Assistance Fund, Philanthropy Massachusetts, and the Boston Impact Initiative Fund. These grants aim to help local businesses increase revenue, improve operations, and create wealth-building opportunities while addressing challenges related to accessing technical assistance and capital.
Ben Walter, CEO of Chase for Business, stated: “When small businesses succeed, they strengthen their communities by creating jobs, boosting local economies, and expanding opportunities.” He added that the grants and the Coaching for Impact program would provide business owners with necessary resources.
The announcement was made during "The Experience: Boston," an event designed to bring together small business owners and community leaders for networking and learning opportunities. Specific allocations include $800,000 to the Local Enterprise Assistance Fund for its Elevate Small Business program; $200,000 to Philanthropy Massachusetts for a funder network pilot project; and $315,000 to the Boston Impact Initiative Fund's Accelerate Your Impact Program.
Betty Francisco from Boston Impact Initiative expressed gratitude towards JPMorganChase's support: “This funding enables BII to expand our bilingual Accelerate Your Impact coaching services.”
Amine Benali of LEAF noted that JPMC's investment allows expansion of their ELEVATE program: “With this support from JPMorganChase, we will connect more businesses to procurement opportunities.”
Mary Skelton Roberts of Philanthropy Massachusetts emphasized the importance of such investments: “With this investment from JPMorganChase...our organization will be able to develop a network of funders.”
JPMorganChase has been active in Greater Boston since 2019 with commitments totaling $31.5 million aimed at building generational wealth and employment opportunities. The firm also operates a Community Center branch in Mattapan offering banking services and financial education.
"The Experience" is described as an all-day expo providing networking and educational sessions for business owners at Boston’s SoWa Power Station.
Launched in 2020, Coaching for Impact offers consulting services aimed at helping businesses grow. It pairs business owners with senior consultants who assist them beyond core banking needs. Since its inception, it has expanded significantly across various cities.
JPMorgan Chase & Co., based in the U.S., is a leading financial services firm with global operations. As of March 31, 2025, it had assets worth $4.4 trillion.