In our conversation with Leo Rocco posted yesterday, the founder of GoPago explained that his company would be relying on the relationship between local merchants and lender JP Morgan Chase (now a GoPago investor) to grow his business.
A release issued by Chase this week reveals the scope of that merchant network, plus details about its expansion in 2011.
Chase serves more than 2 million small businesses, the release says, and is an active partner with the U.S. Small Business Administration. In 2011, Chase approved $1.1 billion in SBA loans for 5,509 small business clients. And Chase was the number one SBA lender in terms of both dollars and volume in two states last year: New York and Texas.
GoPago’s eventual rollout in New York City — perhaps later this year? — will offer a first look at how much Leo Rocco may stand to gain from working with Jamie Dimon and team.
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