JP Morgan Chase plans to expand home lending for Black and Latino families while PepsiCo will give more money for job training, officials announced.
Representatives from JP Morgan Chase and PepsiCo made the pledges during a news conference with Mayor Lori Lightfoot and the Chicago Community Trust, a leading philanthropic organization.
JPMorgan Chase promised to increase homeownership among 3,000 Black and Latino families “in the Chicago region through an additional $600 million in home lending to these families over the next five years,” officials said.
The bank also will expand low down payment programs and grants for home buying, including closing cost assistance.
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Officials also said PepsiCo will be giving $500,000 for job training and development, though it wasn’t clear when or where. The soft drink giant also is giving $1 million