JPMorgan Chase announces $2M for South Bronx small businesses

Posted: Updated:
THE BRONX -

A major bank has announced a new fund that aims to help minority entrepreneurs do business in the South Bronx.

JPMorgan Chase will bring $2 million to the borough to support minority-owned small businesses and the economic growth of the borough.

The bank has applied a similar program to Detroit, where entrepreneurs couldn't otherwise get loans and support in the economically troubled city.

"We are a borough of folks who are filled with ideas, who have this entrepreneurial spirit," says Borough President Ruben Diaz Jr. "There are so many Bronx residents who want to be involved directly in the economic boom."

Now some of them have a new shot.

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