JPMorgan lent $5 billion to women entrepreneurs over the last year, halfway to its $10 billion commitment. (via CNBCMakeIt)
A person on a scooter rides past a JPMorgan Chase & Co. bank branch in New York, U.S., on Thursday, June 11, 2020."Our goal is to help small business owners solve key pain points so that they can continue to scale and grow," says Saperstein.
While thousands of small business owners have taken a hit since the coronavirus pandemic, data shows that women entrepreneurs are being hit the hardest. In January 2020, 60% of women small business owners ranked their businesses's overall health as "somewhat or very good," but by July 2020, that percentage had dropped by 13 points to 47%.
The disproportionate impact that the pandemic and economic crisis is having on women entrepreneurs is linked to long-standing disparities in the entrepreneurial world. In 2019, according to, women-owned businesses, which is defined as businesses that are at least 51% owned, operated and controlled by one or more women, generated just $0.30 in revenue for every dollar generated by all other privately held companies.
In addition to its lending commitment to women entrepreneurs, JPMorgan has also invested $51 million in initiatives over the past year that benefit women overall. This includes investments in
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