JPMorgan Chase is committing $10 million in long-term, low-cost capital to support the sustainable development and preservation of small business and commercial corridors on Chicago’s South and West sides. This new capital will expand economic opportunity by enabling Chicago Community Loan Fund (CCLF) to finance critical projects that lack access to traditional financing, providing local residents with access to everyday goods and services. This capital complements and builds on JPMorgan Chase’s $40 million, three-year philanthropic commitment to Chicago’s South and West sides, and leverages the firm’s community development banking expertise in addition to learnings from its proven investment model in Detroit. JPMorgan Chase Institute research found that residents on Chicago’s South and West side neighborhoods must travel greater distances to access everyday goods and services. For instance, in the South Shore and Pullman neighborhoods on the South side, residents traveled 4.9 and 4.6 miles, respectively, from home for the typical purchase, while residents in the North side’s West Ridge and North Park traveled only 1.9 and 1.6 miles. In addition, research by Boston Consulting Group’s Center for Illinois’ Future and JPMorgan Chase found that introducing equity and other patient capital would be critical in boosting investment in neighborhoods that lack access to capital.  The new, low-cost long-term capital will enable CCLF to create sustainable loan programs