JPMorganChase awards over $40 million to address housing supply shortages.

JPMorganChase has awarded more than $40 million in funding aimed at helping to address the nation's housing supply shortage, including more than $20 million in grants and $20 million in flexible, impact-focused term loans. According to the company, the funding will support organizations pioneering solutions to expand and preserve housing supply—ranging from innovative construction models and financing strategies to rental unit preservation and home improvement loans for low- and moderate-income families. The new commitments build on JPMorganChase's firmwide housing strategy focused on helping to increase the availability of homes affordable to households across the income spectrum. Through learnings and impact from this philanthropic work to date—which supported the creation and preservation of more than 85,000 affordable housing units over the last five years—the company will further localize and tailor philanthropic funding to initiatives best positioned to scale solutions, change business practices and influence policy, JPMorganChase said.