By Maria Valdez Haubrich
Chase recently announced a new incentive that rewards businesses for each new employee they hire this year. Beginning June 30, Chase has committed to lowering its interest rate on a new Chase Business Line of Credit by 0.5 percentage point for each new hire, up to three, for the life of the loan. Plus, by also offering discounts for new business checking accounts, Chase is proving its commitment to being a major player in the small business market.
Jaime Dimon, Chairman and Chief Executive Officer of JPMorgan Chase, says, “We encourage businesses to take advantage of the lowest interest rates in years and to create more jobs for the economy. We know how important it is to help small businesses because they are core to the U.S. economy.”
Chase pledged to increase its lending to small businesses by $4 billion in 2010 to a total of $10 billion through access to working capital, term loans for expansion, commercial mortgages, lines of credit and business credit cards. It also promised to hire 325 additional business bankers.
The offer is available to business owners who are approved for a new Chase Business Line of Credit up to $250,000 or existing business customers who increase their line of credit by $10,000 or more. Chase business checking customers will receive an additional half percent discount on their loan rate.
To learn more about this program go to Chase.com/LoanForHire.
