Lending and investing for small business
We understand the vital role small businesses play as local economic contributors, and we aim to help them through a wide range of efforts.
Small Business Owner Report 2014
We are pleased to share the fall 2014 Bank of America Small Business Owner Report, a semi-annual study that uncovers the concerns, aspirations and perspectives of small business owners around the country. View infographic.
Bank of America releases the fall 2014 Small Business Owner Report
Despite continued concerns about government leaders and health care costs, we’re happy to say that the majority of small business owners we surveyed expect revenues to increase in the coming year, and their confidence in the local and national economies remains high. More More
Small business specialists
We have enhanced our commitment to small businesses with more than 8,000 Merrill Lynch Financial Advisors who serve business owners’ retirement plan needs. In addition, our online Customized Small Business Account Recommendations tool helps assess customer needs and recommends solutions. More More
Community Development Financial Institutions (CDFIs)
We’re working with Community Development Financial Institutions (CDFIs) – or local nonprofit loan centers – to provide capital to underserved communities. As part of that commitment, we partnered with the Tory Burch Foundation on the Elizabeth Street Capital initiative, a $10 million program that gives women entrepreneurs access to the capital they need to grow their businesses. More More
Partnering with Calvert Foundation to help women entrepreneurs succeed
In response to the feedback we’ve received from partners on the critical need to help women build their businesses, we announced a $10 million investment with Calvert Foundation to fund enterprises that address some of the biggest challenges that women face, including access to capital. More More
How CDFIs lift small businesses and help create jobs
IN THE NEWS (The Huffington Post): Small businesses are Little Engines That Do. They think they can, they know they can—and they're right. Small businesses are responsible for more than half of all U.S. employment. That's why community development financial institutions (CDFIs) are focused more than ever on meeting the financing needs of small businesses. More More
Minority and women-owned businesses
Minority-owned businesses face particular challenges, including accessing capital and building relationships with potential corporate clients and government agencies. Bank of America works closely with regional diversity councils that are members of the National Minority Supplier Development Council and the Women’s Business Enterprise National Council. We provide the funding and technical support these businesses need to survive and thrive. We also help them succeed in today’s challenging economy by serving as a primary source of contracts for these businesses.
Elizabeth Street Capital
Over the last 40 years, women-owned businesses have become an increasingly important part of the U.S. economy, growing from 5 percent to 30 percent of all businesses. These enterprises generate trillions of dollars in economic activity and revitalize communities by providing tens of millions of jobs, yet women entrepreneurs still face significant obstacles, including equitable access to capital and business networks. More More
Helping empower women entrepreneurs in developing and emerging economies
The Cherie Blair Foundation’s program connects women business owners to Bank of America employees in a technology-enabled global network. More More
Strategic partnerships multiply impact
Working in the field of corporate social responsibility for more than a decade has given me a firsthand view of the positive role businesses can play in addressing some of society’s major challenges. It isn't always perfect and it isn't always easy, but to tackle big challenges, business has to be part of the solution. More More
BofA looks to boost female entrepreneurs
IN THE NEWS (The Charlotte Observer): Charlotte-area female entrepreneurs looking to grow their businesses will have greater access to capital, mentoring and networking thanks to a new partnership between billionaire fashion designer Tory Burch and Bank of America. More More
A win-win situation
We pledged to increase our spending with small, medium-sized and diverse businesses by purchasing $10 billion in products and services from them over five years. This way, small and medium-sized firms get help to grow their businesses, create jobs and increase their communities’ tax base, and we increase our sources of quality products and services. This helps encourage competition and bring down costs.
Medium and large-sized companies
Bank of America helps finance businesses of all sizes, enabling their development and expansion. For medium-sized businesses, we instituted a number of new programs, including increased access to credit and enhanced customer convenience.
Our largest corporate clients benefit from the breadth of our offerings across multiple lines of business, including debt and equity capital raising, merger and acquisition advisory, treasury, liquidity management and equipment financing. Our large corporate clients also experience considerable benefits from Merrill Lynch, including a broader global presence and world-class expertise in equities and commodities.
How Alex & Ani turned recycled metals into a global brand
As a company rooted in the words "Made in America with Love," Alex and Ani has grown from a storefront in Newport to a beloved brand in 15 countries and helped Rhode Island reclaim its title as the Jewelry Capital of the United States. Using local suppliers and recycled metals, Carolyn Rafaelian's enterprise creates handcrafted jewelry that, in turn, is creating thousands of jobs nationwide. More More
Public sector organizations
In 2010, Bank of America Merrill Lynch’s Public Finance group helped local governments, healthcare organizations and educational institutions in the United States raise more than $59 billion in the public markets, more than any other financial institution. The financing is being used for a variety of public projects including infrastructure, social services, education, hospitals and medical research.
In addition, we directly financed more than $2.2 billion of infrastructure and equipment through Banc of America Public Capital Corp. Projects included a city hall and a parking garage in Fresno, California; a public safety communications center in Scottsdale, Arizona; and more than $200 million for equipment and software to convert electronic healthcare records in 43 medical facilities around the United States.