Promoting Small Business Health (Bank of America): More Than 343,000 Small Business Clients

Summary

Bank of America page on supporting small businesses. Bank of America says the company is the nation’s largest small business lender and the largest investor in Community Development Financial Institutions (CDFIs), and works with three million small business owners every year. The bank says the company was the first major bank to begin accepting PPP applications in early April and has helped more than 343,000 small business clients receive PPP loans. Bank of America has been reported by the SBA to be the largest PPP provider in the U.S. by number of approved loans, and the bank says more than $25 billion in PPP loan funds were delivered. A client spotlight features Josh Sanabria, who started Isla Veterinary Boutique Hospital in Dallas, Texas.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

Promoting small business health

Small businesses create jobs and anchor our communities. With our targeted products and personalized service, we do everything we can to help small business owners grow and realize their dreams.

Millions of small business owners in the U.S. run their companies with our banking, credit and cash management services. They can access thousands of specialists on our team in person as well as via phone, video and chat. Our specialists get to know the owners personally to help them meet their current and future needs.

Across the small business sector, we lead the country in extending credit and investing in growth. We’re the nation’s largest small business lender and also the largest investor in Community Development Financial Institutions (CDFIs) that help startups in low- to moderate-income areas. And, we offer digital Center for Business Empowerment and a step-by-step guide to help those looking to start a new business .

Pursuing and enabling the dreams of entrepreneurs

Entrepreneurs enhance the character of cities and towns across our country. Take the founder behind Isla Veterinary Boutique Hospital. Dr. Josh Sanabria started his own veterinary hospital in Dallas, Texas – and we've supported his endeavors from day one.

Owner Josh is just one of the three million small business owners that we work with every year, helping them realize their potential.

Learn more

Timely support

Since early 2020, we’ve come together across the company to help each other, our clients and our communities through a health and humanitarian crisis. In particular, we have stepped up to provide financial relief to clients in need, including through the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).

We were the first major bank to begin accepting PPP applications in early April. To achieve that, we redeployed and trained thousands of teammates and developed new technology—all in a matter of weeks. We asked our Market Presidents to be front-and-center in working with public officials and clients, helping them understand our ongoing commitment to supporting small businesses.

Through all of this hard work, we have helped more than 343,000 small business clients – in every industry, in every market – receive PPP loans. Bank of America has been reported by the SBA to be the largest PPP provider in the U.S. by number of approved loans, and we have delivered more than $25 billion in PPP loan funds to small businesses in need.

Center for Business Empowerment

Discover tools, insights and resources to move your business forward.

Client spotlight: Dr. Josh Sanabria of Isla Veterinary Boutique Hospital External link, opens in a new tab

Since the age of six, Dr. Sanabria has had an unwavering love of animals. So when the opportunity to open his own veterinary clinic, Isla Veterinary Boutique Hospital, came knocking, he was able to make his lifelong dream a reality.

Start a Business Center External link, opens in a new tab

See how we support aspiring entrepreneurs through our Start a Business Center.

File and source

File

supporting-small-businesses_008ec54317befbc6.html

Size

264,296 bytes

SHA-256

65012c4558b71615746f170cf4eceb0fb21120b90bce94524befb12986e42c25

Our copy

supporting-small-businesses_008ec54317befbc6.html

Original

about.bankofamerica.com