Small Business Banking

6/2/20 2:45 pm EDT

Bank of America anunció hoy que destinará durante cuatro años un total de $1 mil millones en apoyo adicional para ayudar a las comunidades locales a abordar la desigualdad económica y racial que se ha acelerado debido a una pandemia global. Los programas se centrarán en ayudar a las personas y comunidades de color que han experimentado un mayor impacto debido a la crisis de salud.

Las diferencias económicas y sociales subyacentes que existen se han acelerado e intensificado durante la pandemia mundial”, dijo Brian Moynihan, director general. “Los eventos de la semana pasada han more...

6/2/20 7:16 am EDT

Bank of America announced today that it is making a $1 billion, four-year commitment of additional support to help local communities address economic and racial inequality accelerated by a global pandemic. The programs will be focused on assisting people and communities of color that have experienced a greater impact from the health crisis.

“Underlying economic and social disparities that exist have accelerated and intensified during the global pandemic,” said CEO Brian Moynihan. “The events of the past week have created a sense of true urgency that has arisen across our nation, more...

5/4/20 1:18 pm EDT

Bank of America announced today that it has received Small Business Administration (SBA) loan approvals for 265,500 small businesses under the SBA’s Paycheck Protection Program (PPP). This represents $24.9 billion in needed relief for small businesses. More than 256,000 of these small businesses have received a loan number since the SBA reopened the PPP funding on April 27.

Of the SBA applications submitted to date:

  • 98% are for companies with fewer than 100 employees.
  • 76% are for companies with fewer than 10 employees.
  • 93% are for more...
3/30/20 9:00 am EDT

As the federal government continues to finalize the details and protocols of implementing the recently passed Coronavirus Aid Relief and Economic Security (CARES) Act, Bank of America today announced that it will provide up to $250 million in capital to community development financial institutions (CDFIs) by funding loans through the newly established Paycheck Protection Program. In addition, Bank of America will provide up to $10 million in philanthropic grants to help fund the operations of CDFIs.

CDFIs, also known as local loan centers, are small and typically not-for-profit more...

3/19/20 5:20 pm EDT

Bank of America anunció hoy un apoyo adicional para sus 66 millones de consumidores y clientes de pequeñas empresas en respuesta a los retos sin precedentes debido al coronavirus. La compañía sigue ofreciendo acceso a los servicios financieros importantes que estos clientes necesitan.

“Nuestros clientes confían en nosotros todos los días en cada aspecto de su vida financiera”, dijo Dean Athanasia, presidente del departamento de Consumidor y Pequeñas Empresas de Bank of America. “Seguiremos ofreciendo un acceso conveniente a los servicios importantes en los que cuentan, y la more...

3/19/20 5:18 pm EDT

(Updated March 31, 2020)

Bank of America today announced additional support for its 66 million Consumer and Small Business clients in response to the unprecedented challenges of the coronavirus. The company is offering assistance to clients through its Client Assistance Program and continuing to provide access to the important financial services on which these clients rely.

“Our clients rely on us every day and for every aspect of their financial lives,” said Dean Athanasia, president of Consumer and Small Business at Bank of America. “We’re going to continue to provide more...

2/26/20 9:00 am EST

U.S. Hispanic small business owners anticipate a decade of robust expansion and growth, expressing a brighter business outlook than their non-Hispanic peers in the year ahead, according to the fourth annual Bank of America Business Advantage 2020 Hispanic Business Owner Spotlight.

The annual study based on a survey of more than 1,000 entrepreneurs across the country reveals:

Outlook remains strong for Hispanic entrepreneurs, exceeding that of their more...

2/6/20 9:00 am EST

On the first anniversary of the launch of Business Advantage 360, its one-stop digital dashboard for business owners, Bank of America today announced that it can now integrate data from key third-party business applications to provide a more complete financial picture for small businesses.

Complementing the existing offering, which provides a view of business cash flow and access to real-time expertise and guidance, Business Advantage 360 can now seamlessly integrate data into the dashboard from QuickBooks® more...

12/4/19 9:00 am EST

U.S. small business owners are entering the new decade on a high note, with 82 percent anticipating year-over-year revenue growth as they close out 2019, according to the Bank of America Business Advantage Fall 2019 Small Business Owner Snapshot.

Entrepreneurs are confident about their business prospects, with expansion plans, revenue projections and intent to hire remaining strong and steady from last fall. While business owners also maintain a positive outlook for more...

10/17/19 9:00 am EDT

Bank of America and Babson College today announced the findings of a new study of women entrepreneurs and how they overcome challenges to business growth beyond venture funding. The study, part of a larger research collaboration between Babson’s Center for Women’s Entrepreneurial Leadership (CWEL) and Bank of America Private Bank, found that women who have built successful companies had to navigate significant gender-based obstacles and, in doing so, created alternate paths to success for themselves and similarly unstoppable female entrepreneurs.

Findings from the study will be more...

10/2/19 9:00 am EDT

Women small business owners are poised to end 2019 on a high note, with 84 percent anticipating year-over-year revenue growth, according to the 2019 Bank of America Women Business Owner Spotlight. Future revenue projections and expansion plans have reached four-year highs, and are stronger among women entrepreneurs than their male counterparts. However, women continue to report barriers concerning access to capital and pay equality.

“Women business owners see a bright future more...

8/28/19 9:15 am EDT

Bank of America today announced that it has rewarded small business clients participating in Preferred Rewards for Business with approximately $175 million in benefits during the inaugural year of more...

5/21/19 11:00 am EDT

Bank of America President of Consumer and Small Business Dean Athanasia will participate in the Deutsche Bank Global Financial Services Conference on Tuesday, May 28 at 1:10 p.m. Eastern Time. A live audio webcast will be accessible through the Bank of America Investor Relations website at http://investor.bankofamerica.com. A replay will also be available.

 

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market more...

5/14/19 2:00 pm EDT

Local entrepreneurs project a positive business outlook this spring and are increasingly confident in the D.C.-area economy, according to the spring 2019 Bank of America Business Advantage Small Business Owner Report. At the same time, D.C. entrepreneurs are less confident in the national economy, reporting mixed views on the impact of last year’s landmark tax reform and trade tariffs.

The report is based on a semiannual survey of over 1,500 small business more...

5/14/19 2:00 pm EDT

Local entrepreneurs maintain a strong business outlook this spring, anticipating revenue growth and opportunities for expansion in the year ahead, according to the spring 2019 Bank of America Business Advantage Small Business Owner Report. Economic confidence levels remain steady as New York City small business owners have mixed views more...

5/14/19 2:00 pm EDT

Local small business owners continue to project one of the strongest business outlooks nationwide this spring, according to the spring 2019 Bank of America Business Advantage Small Business Owner Report. At the same time, the report found that entrepreneurs in Miami-Dade, Broward and Monroe more...

5/14/19 2:00 pm EDT

Houston entrepreneurs are projecting a strong but more cautious business outlook this spring, with revenue expectations and expansion plans dipping over the last six months, according to the spring 2019 Bank of America Business Advantage Small Business Owner Report. Though area business owners more...

5/14/19 2:00 pm EDT

Local entrepreneurs see big opportunity in the year ahead, with significantly stronger business outlooks than the national average, according to the spring 2019 Bank of America Business Advantage Small Business Owner Report. Dallas/Fort Worth business owners maintain this confidence despite a slight softening in sentiment around the more...