Bank / Credit Union

Bank of America to give $1M for flood recovery fund in Texas

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August 10, 2026

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Bank of America will give $1 million in funding for relief and recovery in central and south Texas following several years of flooding. The funding will go to LiftFund, a community development financial institution, along with a $50,000 grant to the American Red Cross, according to a press release.

LiftFund supports a number of projects including disaster recovering financing. With this fund, LiftFund will give $800,000 for its Small Business Disaster Recovery and Resilience Fund and $200,000 for staffing, advising, compliant, reporting and other services.

"Bank of America's investment comes at a critical time for small businesses working to recover and rebuild," Amy Hereford, president and CEO of LiftFund, said in the relese. "In the weeks following a disaster, businesses often need flexible capital to stabilize operations, retain employees, replace essential assets, and reopen before temporary setbacks become permanent closures. Bank of America's partnership recognizes that recovery doesn't end when the floodwaters recede, and we're grateful for their investment in the long-term strength of these businesses and the communities they serve."