JP Morgan Chase 2012 Annual Report Download - page 49

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Growing the economy
• Provided$20billioninnewcredit
toAmericansmallbusinesses.
Overthelastthreeyears,
weaddedmorethan1,000small
businessbankers,andforthe
thirdyearinarow,wewerethe
#1SmallBusinessAdministration
(SBA)lenderbyunits,approving
40%moreSBAloansthanour
nearestcompetitorintheSBA’s
scalyear2012.
• Continuedtoprovidebillions
ofdollarsincreditandnancing
toEuropeanclients—corporate
andsovereign—evenasthose
economiescameunderincreasing
strain. J.P.Morganhasbeenin
Europeformorethan150years
andiscommittedtobeinga
reliablepartneringoodtimes
andbadtoservecountries,clients,
nonprotsandcommunities
acrosstheregion.
• Provided$3millioningrants
throughourMissionSmall
Businessprogramtosmallbusi-
nessesaroundtheUnitedStates
thataremakingapositiveimpact
intheircommunities.Nearly
70,000smallbusinessesapplied,
and3.1millionconsumersshowed
theirsupportbyvotingfortheir
favoritesmallbusinesses.
• Launchedave-year,$10million
eorttobolstereconomic
growthbystrengtheningtrade
andinvestmenttiesbetween
U.S.andglobalcities.In2012,
TheBrookings-JPMorganChase
GlobalCitiesInitiativebrought
togetherleadersinLosAngeles,
SanDiego,Columbus,Miami,
SingaporeandSãoPauloto
highlightbestpolicyandpractice
innovationsfromaroundthe
worldandtofosteraglobal
networkofleaderswhosemet-
ropolitanregionstrade,invest
andgrowtogether.
• Invested$15millioninwork-
forcedevelopmentpartner-
ships,includingSkillsfor
Chicagoland’sFuture,which
connectsworkforcedevelop-
menttrainingprogramswith
partnerswhocantrainpeople
withtheskillsemployersare
seekingandthenmatchgradu-
ateswithemployers’posted
positions.Intotal,weawarded
nearly$60millioningrantsto
workforcedevelopmentpro-
gramsoverthelastveyears.
Strengthening communities
• Providedinexcessof$990million
inloansandjustover$1billion
inequitytobuildorpreservemore
than31,000unitsofaordable
housingforlow-andmoderate-
incomefamiliesinover200
U.S.cities.
• Lent$189milliontocommunity
developmentnancial
institutionsthatleveragedour
capitaltosecurenancing
formoreaordablehousing,
schools,healthcareclinicsand
smallbusinesses.
• Structured$219millioninNew
MarketsTaxCreditstobuild
manufacturingandindustrial
capacityintheU.S.and$79
millionfortheconstructionof
eighthealthcarecentersthat
cumulativelywillbeableto
providemorethanaquarter
millionannualpatientvisits.
• Committed$10milliontoNew
YorkCity’sCleanHeatprogram,
apublic-privatepartnership
toallowlow-income,multifamily
buildingstoconverttheirheating
systemsfromheavyfueloilto
cleaner-burningnaturalgas.
• Exceededour200410-year,$800
billionPublicCommitmenttomake
loansandinvestmentsforhousing,
smallbusinessesandcommunity
developmentintheU.S.Bythe
endof2012—oneyearaheadof
schedule—wehadlentorinvested
$844billioninmortgages,small
businessandnonprotloans,
andaordablehousing,primarily
forminorityorlower-income
borrowersandcommunities.
• Strengthenedcommunitiesoutside
theU.S.byinvesting$1million
incleanwaterprogramsinrural
villagesacrossIndia,Vietnam,
IndonesiaandthePhilippines.
Overthelasttwoyears,JPMorgan
Chasehasprovided$1.9millionto
deploy192AquaTowersthateach
supportsthedailydrinkingwater
requirementsof1,000people.
2012HIGHLIGHTSANDACCOMPLISHMENTS
Coming to the aid of our neighbors and communities
InthewakeofSuperstormSandy,JPMorganChaseannounced
upto$5billionofsupportforsmallandmid-sizedbusinessesand
donated$10millioninaidtodisasterrelieforganizationsand
individuals.WedispatchedfoodtrucksandmobileATMstohard-hit
areas,waivedfeesforcustomers,reopenedourbranchesquickly,
foundwaysformorethan1,000JPMorganChaseemployeesto
volunteer,andaccepteddonationstotheAmericanRedCrossthrough
ourATMsandRewardsprogram.InpartnershipwiththeRobin
HoodFoundation,wesupportedthe12.12.12ConcertforSandyRelief,
whichraisedmorethan$50millionforstormvictims.Afteritbecame
clearthatSuperstormSandymightdisruptthenormaloperations
ofthemunicipaldebtmarkets,J.P.Morganimmediatelyoeredits
servicestohelpthestateofNewJerseyraise$2.6billionindebt
nancing,waivingourfeesontheunderwritingandguaranteeingthat
thestate’sborrowingcostswouldnotexceedapredeterminedrate.