JPMorgan Chase & Co. said Monday that it would expand its force of small-business bankers by 17%, pushing it to more than 2,220 lenders, and would increase its lending to even smaller companies by about 40% next year, to about $10 billion.
The company's small-business group has $29 billion in loans outstanding to companies with annual sales of less than $20 million. The $2 trillion-asset company said it plans to expand in commercial mortgages, business credit cards and other types of loans to businesses with less than $10 million of annual sales.
