Bank / Credit Union

Bank of America intros capital connector for small businesses

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April 5, 2024

Bank of America introduced its Access to Capital Connector platform to link small businesses owners to community development financial institutions and other organizations for capital and coaching. Applicants can answer a series of questions to become pre-qualified and connect with more than 150 CDFIs, according to a press release.

Bank of America plans to use this platform to support CDFIs and reach more small businesses. It is part of its larger Access to Capital Director series, which offers equity, grant and debt capital.

"When small businesses have access to responsible capital and other resources, they create jobs, grow wealth, and provide critical services for communities," Patrick Davis, SVP of platform and technology services for CRF, said in the release. "Bank of America has been a strong partner in CRF's efforts to serve entrepreneurs, especially those with a history of under representation. The Access to Capital Connector is the latest example of our collaborative work to support a thriving small business ecosystem by streamlining the connection between small business owners and the CDFIs designed to serve them."