Browsing: Financing

Bank of America’s Community Development Banking division has delivered a record $7.8 billion in financing for affordable housing and economic development initiatives in 2023. This investment includes $6.2 billion for affordable housing development, $1.1 billion for community facilities, and $500 million for small businesses in low-to-moderate income communities, with plans to increase financing to $8.5 billion in 2024.

Bank of America’s Community Development Banking division has delivered $7.8 billion in financing to support affordable housing and economic development in underserved communities across America. The financing includes $5.3 billion for affordable housing developments and $2.5 billion for community facilities, with the bank planning to increase its target to $8.5 billion next year.