MHProNews.com has learned from heraldonline.com that JPMorgan Chase & Co. (NYSE:JPM) has created a new community development financial institution (CDFI) Collaboratives program to stimulate economic growth and opportunities in distressed and underserved communities, committing $33 million spread over 21 states. The financial services giant, with over $2.4 trillion in assets worldwide, is partnering with CDFIs across the country focusing on capital for small businesses, affordable housing and healthy food networks. Included is a $4 million grant to ROC USA Capital, Leviticus 25:23 Alternative Fund and Mercy Loan Fund to encourage resident ownership of manufactured home communities. The partnership will target hard-to-serve low-and-moderate income neighborhoods in Washington, Oregon, Idaho, Utah, Wisconsin, New York, Connecticut, Pennsylvania, New Jersey and Delaware.
(Photo credit: Roc USA)