THE POWER TO turn dreaming into doing

Every day Bank of America small business specialists work closely with Black small business owners to help them overcome the unique challenges they face and support them as they move their businesses forward. Throughout Black Business Month we’re sharing advice, guidance and access to resources that can help drive a lifetime of opportunities for these business owners.

Building a network of support for business owners

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How Community Development Financial Institutions (CDFIs) can help

An important resource for Black business owners are CDFIs. These typically nonprofit loan funds serve low- and moderate-income communities that can offer both capital and technical assistance. Bank of America is the largest private investor in CDFIs in the United States, with more than $1.6 billion in loans and investments in over 250 CDFIs.

Growing a culture of Black entrepreneurship

Inez Long, the CEO of the Black Business Investment Fund of Florida (BBIF), discusses the CDFI’s focus on the needs of Black entrepreneurs and how they offered support through coronavirus-related challenges with help from Bank of America.

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Helping underserved communities thrive

Founded with the mission to expand financial access to help underserved communities thrive, Kiva is focused on providing capital to U.S.-based, Black and Hispanic-Latina female entrepreneurs in need of financing. With funding support from Bank of America, Kiva has helped entrepreneurs like Breona Baines and her partners, who provide low-cost veterinary services in Columbus, Ohio.

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Breaking new ground

In partnership with Bank of America, Karamu House is moving forward on the next phase of renovations for America’s oldest Black producing theatre. This continues a legacy of support and will expand technical theatre training, workforce development and other programs for the arts community in Cleveland.

Resources & Articles

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Bank of America Business Advantage

Find comprehensive financial solutions to help you manage your business, like digital tools, specialists, and more.

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Small Business Resources

Find articles, resources, tips, advice and more from small business experts.

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Understanding diverse viewpoints

Explore Merrill research for unique perspectives from the Black/African American community including the importance of learning from local small business owners.

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Small Business Administration

Find Small Business Administration programs that support the development and growth of minority-owned small businesses and entrepreneurs from underserved communities.

Our ongoing commitment & support

Bank of America’s $1.25 Billion commitment

See how our $1.25 billion racial equality and economic opportunity commitment is focused on areas where systemic, long-term gaps have existed, including small business, housing, workforce development and healthcare assistance.

Meet with a specialist

Our small business specialists will listen to your needs and offer the advice, guidance and support that’s right for your business.

Summer 2021 Black Business Owner Spotlight

Read our summer study exploring the impact of the pandemic, goals, challenges and everyday realities of Black small business owners across the country.

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