JP Morgan offers small businesses rate cuts if they hire

NEW YORK – J.P. Morgan Chase & Co. wants small businesses not just to borrow, but also to hire.

The U.S.'s second biggest bank by assets said Tuesday it will lower the interest rate charged on a line of credit to small-business customers by half a percentage point for every new hire they make, for up to three hires.

"We encourage businesses to take advantage of the lowest interest rates in years and to create more jobs for the economy," says Jamie Dimon, chairman and chief executive of J.P. Morgan Chase.

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