Our footprint is national, with primary focus on low-income communities in Chase’s retail footprint.
Our footprint is national, with primary focus on low-income communities in Chase’s retail footprint.
Yes, subject to certain limits on commercial income underwriting and leasing requirements. Contact us through the form below to discuss your project.
Yes, in some instances. Please contact us through the form below to discuss.
Yes. Please contact us through the form below to discuss.
No. However, we do have maximum exposure limits for sponsors/guarantors.
We do not lend to for-sale projects. Contact us to discuss your specific situation.
Yes, all three. Our NMTC team focuses primarily on tax credit investing in the NMTC program, with additional work as an allocatee, receiving NMTC awards and supporting projects in highly distressed low-income communities. Our team also works with other lines of business from across JPMorganChase that need debt for their NMTC projects.
J.P. Morgan often uses our NMTC allocation to help fill the gaps in projects we’re working on with other NMTC allocatees or Community Development Entities (CDEs). By providing our NMTC allocation to projects we are working on with other CDEs, we can efficiently help fill the financing needs of projects often without any additional transaction closing costs.
Chase New Markets Corporation (CNMC) has received $750+ million of NMTC allocation since the program’s inception. Our proprietary NMTC allocation is in high demand, and we allocate it strategically.
Yes, Community Development Banking makes direct investments in HTC projects. Our HTC team works directly with developers to evaluate, structure and close the tax credit investment. We then work with the developer team throughout the construction period to fund additional equity installments and post-completion (through the five-year compliance period) to collect financial performance information and receive cash flow returns on the investment.
The most common asset in our HTC portfolio is multifamily housing. We will consider any type of asset but need to gain comfort with project viability and returns during our real estate underwriting process.
The Community Development Banking team at J.P. Morgan works directly with project sponsors (developers) to understand and structure the HTC investment. Our team also seeks to deepen our relationship with developers by offering treasury solutions, loans and other bank products that support our real estate clients.
While we prioritize investments in CRA-qualified locations, we also invest in projects that don’t qualify for CRA.
We work with many of the nation’s CDFIs through our Intermediaries Lending team, NMTC investment activities and affordable housing lending. Our Intermediaries Lending team provides core liquidity and revolving and non-revolving debt facilities along with treasury products for CDFIs. The CDFIs we work with are generally larger national and regional CDFIs and principally non-depository loan funds; they have strong portfolio management track records and lending histories, a proven ability to navigate economic cycles and rigorous, defined risk, underwriting and portfolio management policies and practices. For the larger CDFI relationships, Intermediaries Lending has developed a strong relationship with JPMorganChase’s Public Finance team to assist CDFIs that seek to access the public bond markets.
We seek to develop and maintain broad relationships with our CDFI partners. Principal products include:
While we have no minimum loan size, loans are typically at or above $5 million. Loan terms are generally two to three years and up to five years, though in some cases loans may extend beyond this.
Financing is primarily offered on a floating-rate basis but fixed-rate options may be available.
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