JPMorgan Chase has announced plans to lend an additional $5 billion to non-profit and healthcare companies, higher-education institutions, and government units over the next year. That will bring total commitments to more than $65 billion.
"These capital-intensive industries have faced tremendous challenges this year when the auction-rate securities market shut down and then the fixed-rate loan market froze up," said Todd Maclin, chief executive officer of Commercial Banking at JPMorgan Chase & Co. "We have expanded and will continue to expand our lending to existing clients while beginning new relationships with others. Lending to these organizations helps both them and our communities."
The news release offers several examples of the firm’s recent financing projects, including a new 288-bed children’s hospital facility in Chicago.
Read the release.
