The Chase bank has come up with a program to help small businesses by providing lower interest rates on credit for the companies which create jobs. Its main aim is to provide low rate interest credit for small businesses. Many people were surprised to know about discounts on credit. It was totally unexpected boon for small businesses that are going to hire new employees.
The Chase bank offers a half a point discount per new hire which is limited to 3 hires. Another half point discount would be offered if the company opens a new line of credit. The existing customers would also get a half point discount on increase of their credit line by $10,000 or more. The eligibility for credit line discount is capped at $250,000.
Chase bank has allocated loans to small businesses of about $2.1 billion during the first quarter which has increased up by 31 percent from the past year first quarter. Chase bank is expecting to meet its goals by its new hiring based discount program.