Bank of America has launched a new Access to Capital Connector, an online platform for entrepreneurs and small business owners to link directly to local Community Development Financial Institutions (CDFIs) and other business support organizations for capital, coaching and support. Silicon Valley-based CDFIs include Acción Opportunity Fund -- many other Bay Area CDFIs serve the whole of the Bay Area.

Created in partnership with Community Reinvestment Fund, USA (CRF), a national nonprofit CDFI and long-time Bank of America partner, the new platform allows small business applicants to answer a series of questions to become pre-qualified, and provides access to more than 150 CDFIs and other support organizations participating on the platform, offering capital and resources for entrepreneurs at every stage of their small business journey.

The new platform represents an evolution of the Bank of America Access to Capital Directory series, which was launched in 2021 and has more than 25,000 users and 120,000 views. These resources offer a wide variety of capital sources, including equity, debt, and grant capital.

Bank of America has supported CDFIs for more than 25 years and is the largest private investor in them, with $2 billion in loans, deposits, capital grants and equity investments through more than 250 CDFI partners.

BofA is the nation’s top small business lender, with a total loan portfolio of $ 43.7 billion as of the end of 2023. The bank provides advice, solutions, access to capital and dedicated support to meet the unique needs of 11 million business owner clients.