Bank of America Commits $250 Million in Capital and $10 Million in Philanthropic Grants to Community Development Financial Institutions (CDFIs)
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Monday, March 30, 2020
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In addition, Bank of America will provide up to $10 million in philanthropic grants to help fund the operations of CDFIs.
Key Points:
- In addition, Bank of America will provide up to $10 million in philanthropic grants to help fund the operations of CDFIs.
- The funding and grants announced today will be provided to CDFI loan funds and CDFI- and minority-owned banks.
- Small businesses are the backbone of our communities, said Anne Finucane, vice chairman of Bank of America.
- Last week, Bank of America announced a $100 million commitment to support local communities impacted by the coronavirus.