Bank of America (BofA) recently launched the Access to Capital Connector, an online platform that connects entrepreneurs and small business owners with local Community Development Financial Institutions (CDFIs) and other business support organizations. This platform offers access to capital, mentoring, and support for small businesses. The program was developed in collaboration with the Community Reinvestment Fund, USA (CRF), a non-profit CDFI that pre-qualifies 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, small business owners have access to a wide range of resources to help them succeed.
Sharon Miller, Head of Bank of America’s small business division, emphasized the importance of addressing the challenges faced by small businesses, such as a lack of funding, resources, and connections. The new platform aims to strengthen relationships between startups, entrepreneurs, and financial partners through established collaborations to promote innovation, job creation, and economic growth. The Access to Capital Directory, launched in 2021, has evolved into a platform that provides grant, debt, equity funding, and other forms of capital. Currently, the platform boasts over 25
