Trending...
- North Carolina Author Carrie Sybert Celebrates Three Published Books - 110
- Nious Media Expands Independent Entertainment Network Through Gaming, Music and Digital Storytelling - 104
- Alan Hamilton of Shiver Hamilton Campbell Inducted as a Fellow of the American College of Trial Lawyers
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
- NECP Promotes Chertova to Senior Business Analyst
- Security Industry Veteran Anthony Rumore Launches AegisLead to Help Security Companies Find Business and Manage Growth
- Charlie Shaw and Patrick Carragher win SEO Agency of the Year 2026
- Canadian Woman Plants 1,667 Love Stories in a Field of Peonies That Could Bloom for 100 Years
- Peruvian Gold Wellness Shares Free 2026 Holiday Shopping Guide
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
- New Research Spotlight, Expanding TUSC2 Science & Strategic Development Milestones Put Gene Therapy Innovation into Focus for Genprex (NAS DAQ: GNPX)
- Hall of Fame Speaker Kelly Swanson Competes for National Top Host Title
- Hall of Fame Speaker Kelly Swanson Launches New Book and Brings Comedy Show to Louisburg, NC
- North Carolina Author Carrie Sybert Celebrates Three Published Books
- Access Control Security Shares 5 Ways Retailers Can Prevent Holiday Theft
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.
Filed Under: Business
0 Comments
Latest on ncarol.com
- We are Talker Study: 64% of AI Users Have Bought From a Brand AI Introduced, as The Invisible Shortlist Reshapes Brand Discovery
- One in three Americans may have lost track of retirement savings from a previous job
- Political Concerns Drive US Investors to Golden Visas
- Nious Media Expands Independent Entertainment Network Through Gaming, Music and Digital Storytelling
- Drake Turns 40 With Backstreet Boys; KayeDinero Drops "The Bounce (Elmo Mix)"
- Triangle Home Safety Offers Aging in Place Services Across Raleigh, Cary and Apex
- 2027 Health Insurance Open Enrollment
- Gahl Sasson Releases "Agents of Chaos & Angels of Change: The Astrology of 2027
- What's Beneath Your Feet?: Anti-Viral Flooring Helps Create Healthier Spaces
- Control & Co. Launches Digital Audit Readiness Toolkit for Small Businesses
- Zazie Productions Brings Experimental Sound Art to Psychological Horror Film Scoring
- Tek84 Unveils New Brand Identity Built to Magnify What Security Officers Can Do
- CoreVar Announces Cooking with AI, an Eight-Topic Live Webinar Series
- Mr Hospital Bed Cites Hill Rom Hospital Bed Models Best Value Home Care Hospital Beds 2026
- WOWX labs Closes US$10 Million Founder-Led Growth Financing as WOWX.market Enters Scale Phase
- BESTBUYSTORE opens its dropshipping model to independent merchants
- America's Hometown Thanksgiving Parade in Plymouth, MA, on Saturday, November 21, 2026
- Navigating a Changing Market: How AIX Group Is Responding to a Challenging Year
- 450 Million Revenue Run Rate, Global Telecom Reach and a New Digital Growth Opportunity Take Center Stage: IQSTEL, Inc. (N A S D A Q: IQST)
- Wave Helicopters Takes FLIBS 2026 to New Heights