Economic Mobility focused on needs of community
Bank of America
The current health and humanitarian crisis has underscored the importance of safe, decent housing for an individual’s overall well-being, including health, educational success and future employment opportunities. That’s why Bank of America supports the work of organizations working to preserve, and increase access to a mix of affordable housing options.
- Housing development for vulnerable populations through the construction or preservation of affordable single, multi-family, transitional and supportive housing
- Minority homeownership programs
- Pathways to stable housing or homeownership through financial stability efforts such as homebuyer education, budgeting, savings, and credit counseling including eviction and foreclosure prevention.
- Sustainable development efforts creating healthy living environments through energy efficiency upgrades, retrofits, solar and other green building efforts.
Small businesses play an important role in the overall health of our nation’s economy. In response to the challenges many small businesses continue to face due to coronavirus, Bank of America is supporting nonprofits that are assisting minority and indigenous entrepreneurs as they focus on short-term needs and build for long-term recovery.
- Technical assistance supporting business planning (short and long term).
- Operational capacity of CDFIs delivering essential growth capital to entrepreneurs. Supporting organizations assisting minority-owned small businesses.
- Economic development efforts that promote small business growth and healthy commercial corridors. (e.g. Mainstreet).
Vibrant communities are places where individuals can thrive and succeed and have the opportunity to live and work with safe, decent housing, transportation to jobs, strong business corridors and thriving arts and culture districts. Bank of America supports local and regional revitalization efforts, taking a holistic approach to building inclusive communities.
- Revitalization, preservation, and stabilization initiatives that engage community stakeholders in building livable communities for all with focus on environmental health, community safety and economic growth.
- Transit-oriented development efforts that connect individuals to jobs, services, schools, and economic opportunity.
- Community arts and cultural institutions that provide economic opportunity and contribute to the vitality and livability of communities.
- Resiliency of communities supporting short and long term plans to prepare, withstand and recover from extreme weather events and the long-term impacts of climate change.
- Environmental efforts through the preservation, creation or restoration of open space, parks and community gardens.