JPMorgan hands out US$30b in loans to small businesses


FILE PHOTO: JPMorgan Chase CEO Jamie Dimon speaks at the North America's Building Trades Unions (NABTU) 2019 legislative conference in Washington, U.S., April 9, 2019. REUTERS/Jeenah Moon/File Photo

NEW YORK: JPMorgan Chase & Co has given out more than $30 billion in loans to over 250,000 businesses as part of the United States' coronavirus aid program for small businesses, Chief Executive Officer Jamie Dimon said in a memo on Tuesday.

JPMorgan, the largest U.S. bank, approved more than $45 billion in new credit for its clients impacted by the COVID-19 pandemic in March and April, Dimon said in a memo to stakeholders.

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