Trending...
- 5X Gross Margin Improvement to Beat EPS Consensus; $54.6 Million 10-Year Contract Award Puts Cybersecurity Leader on Path to a $30 Million Run Rate
- Free Commercial Glass Estimating and Code Compliance Tools Launched by Landmark Construction - The Leading Glass Company in Los Angeles
- New Book, The KI of Marketing, Helps Small Businesses Grow Without Trying to Outspend Bigger Competitors
CHARLOTTE, N.C., March 27, 2024 ~ Bank of America Launches New Platform to Connect Small Businesses with Capital and Support
In an effort to support entrepreneurs and small business owners, Bank of America has recently launched the Access to Capital Connector. This online platform is designed to connect small businesses with local Community Development Financial Institutions (CDFIs) and other business support organizations for capital, coaching, and resources.
The Access to Capital Connector was created in partnership with Community Reinvestment Fund, USA (CRF), a national nonprofit CDFI and long-time partner of Bank of America. The platform allows small business applicants to answer a series of questions in order to become pre-qualified. It then presents them with a list of participating organizations that are best suited to meet their specific needs. Currently, over 150 CDFIs and other support organizations are participating on the platform, offering capital and resources for entrepreneurs at every stage of their business journey.
More on ncarol.com
According to Sharon Miller, President of Small Business for Bank of America, thousands of small businesses fail each year due to a lack of connections, resources, and funding. Through this partnership with CRF, Bank of America aims to strengthen connections between start-ups, entrepreneurs, and funding partners in order to fuel new ideas, create jobs, and generate economic value.
Patrick Davis, Senior Vice President of Platform and Technology Services for CRF, emphasizes the importance of providing small businesses with access to responsible capital and resources. He states that when small businesses have these tools at their disposal, they are able to create jobs, build wealth, and provide essential services for their communities. Davis also praises Bank of America as a strong partner in CRF's efforts to serve underrepresented entrepreneurs.
The Access to Capital Connector is an evolution from the Bank of America Access to Capital Directory series that was launched in 2021. This series has already garnered over 25,000 users and 120,000 views. The platform offers a wide range of capital sources, including equity, debt, and grant capital.
More on ncarol.com
Bank of America has been supporting CDFIs for over 25 years and is the largest private investor in them. Through partnerships with over 250 CDFIs, the bank has provided $2 billion in loans, deposits, capital grants, and equity investments. Pam Seagle, Senior Vice President of Inclusive Entrepreneurship for Bank of America, highlights the impact of their extensive network in fostering economic opportunities for individuals and communities.
In addition to their support for CDFIs, Bank of America is also the nation's top small business lender. As of year-end 2023, the bank's total loan portfolio for small businesses was $43.7 billion according to the FDIC. With a focus on providing advice, solutions, access to capital, and dedicated support to their 11 million business owner clients, Bank of America is committed to helping small businesses thrive.
The launch of the Access to Capital Connector is just one example of Bank of America's ongoing efforts to support small businesses and foster a thriving small business ecosystem. By streamlining the connection between entrepreneurs and CDFIs designed to serve them, this platform has the potential to make a significant impact on the success and resilience of small businesses across the country.
In an effort to support entrepreneurs and small business owners, Bank of America has recently launched the Access to Capital Connector. This online platform is designed to connect small businesses with local Community Development Financial Institutions (CDFIs) and other business support organizations for capital, coaching, and resources.
The Access to Capital Connector was created in partnership with Community Reinvestment Fund, USA (CRF), a national nonprofit CDFI and long-time partner of Bank of America. The platform allows small business applicants to answer a series of questions in order to become pre-qualified. It then presents them with a list of participating organizations that are best suited to meet their specific needs. Currently, over 150 CDFIs and other support organizations are participating on the platform, offering capital and resources for entrepreneurs at every stage of their business journey.
More on ncarol.com
- Netberg Announces the Aurora X2 Switch Series, Built on Xsight Labs' Programmable X2 Silicon
- Pete Verbica: America Needs Statesmanship and Common Sense — Not a Cult of Personality
- Heidi G. Villari of The Villari Firm, PLLC Recognized in The Best Lawyers in America 2027 for Construction Law and Personal Injury Litigation
- When the Coroner's Report Isn't Enough: Colorado Families Turn to Private Autopsy for Closure
- Belmont, NC Emerges as More Than a Charlotte Alternative for Homebuyers
According to Sharon Miller, President of Small Business for Bank of America, thousands of small businesses fail each year due to a lack of connections, resources, and funding. Through this partnership with CRF, Bank of America aims to strengthen connections between start-ups, entrepreneurs, and funding partners in order to fuel new ideas, create jobs, and generate economic value.
Patrick Davis, Senior Vice President of Platform and Technology Services for CRF, emphasizes the importance of providing small businesses with access to responsible capital and resources. He states that when small businesses have these tools at their disposal, they are able to create jobs, build wealth, and provide essential services for their communities. Davis also praises Bank of America as a strong partner in CRF's efforts to serve underrepresented entrepreneurs.
The Access to Capital Connector is an evolution from the Bank of America Access to Capital Directory series that was launched in 2021. This series has already garnered over 25,000 users and 120,000 views. The platform offers a wide range of capital sources, including equity, debt, and grant capital.
More on ncarol.com
- Nearly One-Third of CRE Asset Managers Make Major Capital Decisions on Gut Instinct, New Survey Finds
- RemoteBridge Names Dr. John N. Just, Ed.D. Chief Executive Officer
- Project CIVICA Report Finds 10,680 Non-Citizen Indicators on New York Voter Rolls — Including 88 Records with Recent Voting History
- New Analysis Details Three Converging Forces in AI and Workforce Policy Behind a $37 Billion GDP Reduction
- Revenue Optics Launches Pricing and Revenue Growth Management Practice, Names Shafohi Alamgir Vice President
Bank of America has been supporting CDFIs for over 25 years and is the largest private investor in them. Through partnerships with over 250 CDFIs, the bank has provided $2 billion in loans, deposits, capital grants, and equity investments. Pam Seagle, Senior Vice President of Inclusive Entrepreneurship for Bank of America, highlights the impact of their extensive network in fostering economic opportunities for individuals and communities.
In addition to their support for CDFIs, Bank of America is also the nation's top small business lender. As of year-end 2023, the bank's total loan portfolio for small businesses was $43.7 billion according to the FDIC. With a focus on providing advice, solutions, access to capital, and dedicated support to their 11 million business owner clients, Bank of America is committed to helping small businesses thrive.
The launch of the Access to Capital Connector is just one example of Bank of America's ongoing efforts to support small businesses and foster a thriving small business ecosystem. By streamlining the connection between entrepreneurs and CDFIs designed to serve them, this platform has the potential to make a significant impact on the success and resilience of small businesses across the country.
0 Comments
Latest on ncarol.com
- Pattern Recognition In The Arts
- Real Estate Syndication Attorney Tilden Moschetti Releases The Real Estate Private Equity Blueprint
- 5X Gross Margin Improvement to Beat EPS Consensus; $54.6 Million 10-Year Contract Award Puts Cybersecurity Leader on Path to a $30 Million Run Rate
- Couture Master Perfumer JoAnne Bassett Unveils All-Natural Parfum in Oil Collection in Gift Box
- Independent Colbert Packaging Thrives Amid Industrywide Consolidation
- Free Commercial Glass Estimating and Code Compliance Tools Launched by Landmark Construction - The Leading Glass Company in Los Angeles
- Tallahassee Million-Dollar Home Sales Rise in 2026 as Median Selling Time More Than Doubles
- STEM For Kids® Unveil Turn-Key "Screen-Smart" Solution to Bridge Teacher Preparedness Gaps in Texas
- Award-Winning Couture Master Perfumer JoAnne Bassett Launches All-Natural DIY Perfume Making Kits
- Couture Master Perfumer JoAnne Bassett Offers Rare Opportunity to Acquire 70 Formula Perfume Codex
- Slotozilla Reports Strong Growth in Q2 2026
- Flexible Plan Investments Names Carl Resnick President
- Paula Josephine Sadler Releases "Imagine" on 24th Anniversary of Sobriety
- Ritz-Carlton Residences Houston Generates Strong Early New Construction Sales at 2120 Post Oak Blvd
- No Sugar Baker Continues National Growth with Seattle Market Expansion Across Washington, Idaho, and Alaska
- The Refugee Archive Launches Campaign to Preserve 21 Female-Headed Household Oral Histories in Rebel-Controlled Goma
- Space Ambitions Expanding as New Testing Builds on NASA Results and Targets MEO, GEO and Next-Generation Orbital Markets: Ascent Solar Technologies
- FDA Path Clears, Manufacturing Ramps Up + $22.3 Million Strengthens the Balance Sheet; Inflection Point for NRx Pharmaceuticals (N A S D A Q: NRXP)
- Buy Retatrutide Research Peptide: Why Reta Is Getting So Much Attention
- New Book Helps Educators Navigate AI in the Classroom While Keeping Humans in Charge