Bank / Credit Union

Bank of America to provide $12M for Hurricane Helene recovery

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October 2, 2025

Bank of America announced it will provide $12 million in zero-interest loans to Community Development Financial Institutions throughout Western North Carolina. These funds will be used to support rebuilding and small business assistance in areas still dealing with the aftermath of Hurricane Helene in September 2024, according to a press release.

In particular, the bank will give $8 million to Self-Help Ventures Fund for home loans, $2 million to Mountain BizWorks for small business funding assistance loans and $2 million to Partner Community Capital for zero interest loans.

Bank of America has given other donations and assistance over time including a $1 million donation and volunteer work from bank employees.

"As we in Western North Carolina continue our long-term recovery, these disaster loan funds will make a meaningful difference in the lives of our families and business owners," David Dowd, president, Bank of America Asheville, said in the release. "This is part of Bank of America's continued commitment to keeping Western North Carolina strong. We encourage people to join us in being part of our region's comeback story by visiting, supporting small businesses, and enjoying all that our beautiful mountains have to offer."