New BofA Platform Connects Small Businesses to CDFI Capital and Coaching [Yahoo! Finance]
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
CHARLOTTE, N.C. March 27, 2024 /PRNewswire/ -- Bank of America has launched a new Access to Capital Connector , an online platform designed to help entrepreneurs and small business owners start and maintain strong and resilient businesses by linking them directly to local Community Development Financial Institutions (CDFIs) and other business support organizations for capital, coaching and support. Created in partnership with Community Reinvestment Fund, USA (CRF) , a national nonprofit CDFI and long-time Bank of America partner, the new platform enables small business applicants to answer a series of questions to become pre-qualified and presents them with the platform participants best positioned to serve their unique situations. In total, more than 150 CDFIs and other support organizations are participating on the platform, offering capital and resources for entrepreneurs at every stage of their small business journey. "Thousands of small businesses fail each year because they
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