Promoting small business health

Small businesses create jobs and anchor our communities. With our targeted products and personalized service, we do everything we can to help small business owners grow and realize their dreams.

Millions of small business owners in the U.S. run their companies with our banking, credit and cash management services. They can access thousands of specialists on our team in person as well as via phone, video and chat. Our specialists get to know the owners personally to help them meet their current and future needs.

Across the small business sector, we lead the country in extending credit and investing in growth. We’re the nation’s largest small business lender and also the largest investor in Community Development Financial Institutions (CDFIs) that help startups in low- to moderate-income areas.

BarebottleBrewing Co

Tapping into potential

Entrepreneurs enhance the character of cities and towns across our country. Take the founders behind Barebottle Brewing Co. Two long-time friends turned their love of home brewing into a San Francisco tap house that debuts a set of custom beers to eager patrons every week. We’ve supported their endeavors from day one, including their plans to expand to new locations.

Owners Mike and Lester are just two of the three million small business owners that we work with every year, helping them realize their potential.

Timely support

Since early 2020, we’ve come together across the company to help each other, our clients and our communities through a health and humanitarian crisis. In particular, we have stepped up to provide financial relief to clients in need, including through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).

We were the first major bank to begin accepting PPP applications in early April. To achieve that, we redeployed and trained thousands of teammates and developed new technology—all in a matter of weeks. We asked our Market Presidents to be front-and-center in working with public officials and clients, helping them understand our ongoing commitment to supporting small businesses.

Through all of this hard work, we have helped more than 343,000 small business clients – in every industry, in every market – receive PPP loans. Bank of America has been reported by the SBA to be the largest PPP provider in the U.S. by number of approved loans, and we have delivered more than $25 billion in PPP loan funds to small businesses in need.

Duane Topping sewing

Building business diversity

From three tours in Iraq to a Denver-area clothing designer, Duane Topping’s post-military career took an unlikely but fulfilling turn.

“Soldiers don’t become fashion designers, generally. But Bank of America was the one from the beginning that said, ‘Hey we believe in what you’re doing and we’ve created a program just for you.’”

Duane partnered with Bank of America’s Veteran Entrepreneur Lending Program to get the capital, mentoring and support to turn his new passion into a thriving business.

We’re dedicated to helping small businesses that are as diverse as our employees and communities. To help veterans, minorities, individuals with disabilities, women and the LGBT+ community open and grow businesses, we partner with CDFIs in neighborhoods from coast to coast.