Revolutionizing Small Business Access to Capital: Bank of America’s Online Platform Connects Entrepreneurs with CDFIs and Resources

Bank of America (BofA) has recently introduced an online platform called the Access to Capital Connector that aims to connect entrepreneurs and small business owners with local Community Development Financial Institutions (CDFIs) and other business support organizations. The platform provides access to capital, mentoring, and support for business owners in need.

The program was developed in collaboration with the Community Reinvestment Fund, USA (CRF), a national non-profit CDFI that helps pre-qualify small business applicants and directs them to the most suitable platform for their specific needs. With over 150 CDFIs and support groups offering funding and tools on the platform, business owners have a variety of resources available to them.

Head of Bank of America’s small business division, Sharon Miller, emphasized the importance of addressing the funding challenges that many small businesses face. The Access to Capital Connector platform is intended to strengthen connections between startups, entrepreneurs, and financial partners, ultimately fostering new ideas, job creation, and economic growth.

In addition to the Access to Capital Connector, Bank of America also offers the Access to Capital Directory, which provides grant, debt