JPMorganChase Pledges $1 Million for Southern California Small Businesses, Plans to Hire More Than 100 Bankers for the Region

NEW YORK, August 14, 2026 — JPMorganChase, the Official Bank of Team USA and the LA28 Olympic and Paralympic Games and a Founding Partner of the LA28 Games, is committing additional banking, financial education, and capital resources to small businesses across Southern California, including Greater Los Angeles and Riverside. Over the next five years, the firm plans to add more than 100 business bankers in the region, a nearly 30% increase, and graduate more than 3,700 additional local entrepreneurs through its Coaching for Impact program. The program offers complimentary one-on-one consulting, executive coaching, and on-demand education covering business operations, credit readiness, and growth. More than 15,000 entrepreneurs have graduated from the program nationwide since its launch, including more than 900 in Greater Los Angeles and Riverside.

The expanded banking presence will give entrepreneurs greater access to financial advice, capital and business resources as they prepare for new opportunities. JPMorganChase said many small business owners have only a few weeks of cash on hand, making it more difficult to cover everyday expenses while preparing for larger business opportunities. Its banking and coaching services will connect Southern California entrepreneurs with capital and resources that can help them prepare for procurement pathways and major contracts.

Financial Education Comes to East Los Angeles

Next month, JPMorganChase will open a new Community Center Branch in East Los Angeles, its second in Los Angeles and 20th in the nation. The branch will feature a community room available for after-hours use, free Wi-Fi and dedicated space for One Chase partners across banking, lending and investments. Local artwork and bilingual Spanish-English signage will reflect the neighborhood, while a Community Center Manager and Coaching for Impact consultant will provide one-on-one guidance, workshops and tailored financial education for entrepreneurs and residents.

The new branch will give residents and business owners another place to access financial education and banking resources. JPMorganChase said its Community Center branches have served as neighborhood hubs for financial education and resources since the first location opened in 2019. East Los Angeles has nearly 120,000 residents, with more than 95% identifying as Hispanic or Latino, more than 80% speaking a language other than English at home and nearly 40% being foreign-born, according to the firm. The location will connect the community with banking, lending, investment and financial education resources.

More Than $1 Million for Financial and Business Resources

JPMorganChase will provide more than $1 million in new philanthropic funding to Los Angeles organizations working on procurement readiness, supplier connections, access to capital, business coaching and financial empowerment. The funding is expected to reach more than 120 local businesses and adds to more than $15 million deployed since 2020 to strengthen the Los Angeles small business ecosystem. The new funding will help entrepreneurs prepare for procurement opportunities, including contracts associated with the LA28 Games, while giving businesses access to financial and business resources.

Recipients include the Los Angeles Business Council Institute, or LABCi, and the Pacific Asian Consortium in Employment, or PACE. LABCi will expand Compete4LA, an online database connecting nearly 40,000 local small businesses with procurement opportunities, including RAMP, the City of Los Angeles' procurement platform for LA28 contracts and opportunities. PACE will fund operations for the city's ProcureLA initiative, which connects small businesses with financing and contracting opportunities. With the new funding, ProcureLA is expected to serve 120 additional small businesses, assist 60 in obtaining certifications, and help businesses secure $7.5 million in awarded contracts.

Jamie Dimon, Chairman & CEO, JPMorganChase (Photo credit: JPMorganChase)

Financial Capacity for Larger Contracts

JPMorganChase also funds LISC LA's Ascend LA, a small business growth program that helps entrepreneurs strengthen operations, access capital, prepare for procurement opportunities, manage contracts, develop competitive bids, and pursue relevant certifications. Since launching in 2020, Ascend LA has graduated 260 businesses and helped participants secure more than $81.6 million in contract and bonding outcomes. Access to capital and financial preparation can be particularly important for businesses pursuing contracts that require working capital to execute awarded projects.

The firm has also funded Get in the Game, an initiative led by the Los Angeles Area Chamber of Commerce and Next Street. Launched in 2021, the initiative helps local suppliers prepare for procurement and connect with major contracting opportunities. Research funded by JPMorganChase identified an estimated $2 billion regional supplier capital gap and procurement bottlenecks that can limit small business growth. The initiative also helped establish a coalition of organizations working to strengthen the regional supplier ecosystem and connect local businesses with procurement opportunities.

American Dream Initiative Extends Financial Resources Nationwide

The Southern California initiative is part of JPMorganChase's American Dream Initiative, a multiyear effort to expand economic opportunity through financing, capital, advice, training and tools. Through the initiative, the firm plans to reach 10 million small businesses nationwide, up from 7 million served today. The initiative also addresses financial priorities such as saving and planning for the future, access to affordable housing, employment, health care and stronger local institutions.

JPMorganChase has served Greater Los Angeles for more than 135 years and operates more than 330 branches serving more than 5.1 million consumer customers and 600,000 small business clients across the region. The firm provides credit, financing, treasury, and payment solutions to businesses across industries. Since January 2025, it has also made more than $9 million in philanthropic contributions for wildfire recovery in Los Angeles. As the Official Bank of Team USA and the LA28 Games and a Founding Partner of the LA28 Games, JPMorganChase is linking banking access, financial education, capital and business services with opportunities associated with the 2028 Olympic and Paralympic Games.