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CHARLOTTE, N.C.–(BUSINESS WIRE)–Bank of America appear today that it has accustomed Baby Business Administration (SBA) accommodation approvals for 265,500 baby businesses beneath the SBA’s Paycheck Protection Affairs (PPP). This represents $24.9 billion in bare abatement for baby businesses. Added than 256,000 of these baby businesses accept accustomed a accommodation cardinal back the SBA reopened the PPP allotment on April 27.



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Of the SBA applications submitted to date:



Back the SBA reopened on April 27, Bank of America:



“We candy applications for added than 250,000 baby businesses during the additional appearance of this program, and we abide to accept and action new applications. We are blessed to see the SBA has been processing submissions at a faster rate, and hopefully there is acceptable allotment for anybody in need,” said Dean Athanasia, arch of Customer and Baby Business at Bank of America.

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Bank of America continues to accommodate non-government-related lending to baby businesses. According to the Federal Deposit Insurance Corporation (FDIC), Bank of America is the No. 1 lender to baby businesses in the United States.

While no fees accompanying to the PPP accept been accustomed from the SBA, the aggregation appear that net gain accompanying to PPP fees will be committed to abutment baby businesses and the communities and nonprofits we serve.

In accession to lending through the PPP, Bank of America is accouterment abutment to barter including:

Bank of America is acknowledging communities area our audience alive and work:

For questions accompanying to a Bank of America annual and the Paycheck Protection Program, audience can acquaintance us at [email protected]

Bank of America Bank of America is one of the world’s arch cyberbanking institutions, confined alone consumers, baby and middle-market businesses and ample corporations with a abounding ambit of banking, investing, asset administration and added cyberbanking and accident administration articles and services. The aggregation provides incomparable accessibility in the United States, confined about 66 actor customer and baby business audience with about 4,300 retail cyberbanking centers, including about 3,000 lending centers, 2,700 cyberbanking centers with a Customer Advance Cyberbanking Solutions Advisor and about 2,100 business centers; about 16,900 ATMs; and award-winning agenda cyberbanking with about 39 actor alive users, including about 30 actor adaptable users. Bank of America is a all-around baton in abundance management, accumulated and advance cyberbanking and trading beyond a ample ambit of asset classes, confined corporations, governments, institutions and individuals about the world. Bank of America offers industry-leading abutment to about 3 actor baby business owners through a apartment of innovative, easy-to-use online articles and services. The aggregation serves audience through operations beyond the United States, its territories and about 35 countries. Bank of America Corporation banal (NYSE: BAC) is listed on the New York Banal Exchange.

For added Bank of America news, including allotment announcements and added important information, appointment the Bank of America newsroom. Click actuality to annals for account email alerts.

www.bankofamerica.com

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Last Updated: May 5th, 2020 by admin
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