{"id":888678,"date":"2025-09-23T08:18:53","date_gmt":"2025-09-23T12:18:53","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/"},"modified":"2025-09-23T08:18:53","modified_gmt":"2025-09-23T12:18:53","slug":"bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/","title":{"rendered":"BofA Commits $12 Million for Western North Carolina Residents and Small Businesses Impacted by Hurricane Helene"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <i>Funding to Support Housing, Home Repairs and Small Business Loans as Hurricane Recovery Continues<\/i>\n      <\/p>\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">ASHEVILLE, N.C.<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Sept. 23, 2025<\/span><\/span> \/PRNewswire\/ &#8212; As the <span class=\"xn-location\">Western North Carolina<\/span> community continues its efforts to rebuild, Bank of America is announcing <span class=\"xn-money\">$12 million<\/span> in zero-interest loans to Community Development Financial Institutions (CDFI) to support homeowner recovery\u00a0 and small business assistance. The loans will be managed through three CDFIs integrally involved in the region&#8217;s disaster recovery efforts following the devastating impact of Hurricane Helene.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1612970\/Bank_of_America_Corporation_Logo.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1612970\/Bank_of_America_Corporation_Logo.jpg\" title=\"(PRNewsfoto\/Bank of America Corporation)\" alt=\"(PRNewsfoto\/Bank of America Corporation)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<ul type=\"disc\">\n<li>Self-Help Ventures Fund (SHVF) will receive <span class=\"xn-money\">$8 million<\/span> to provide flexible home loans through its credit union network in the region and in partnership with other home lenders.<\/li>\n<li>Mountain\u00a0BizWorks will receive <span class=\"xn-money\">$2 million<\/span> to provide low interest small business funding assistance loans with no principal repayments during for the first year; and<\/li>\n<li>Partner Community Capital will receive <span class=\"xn-money\">$2 million<\/span> to provide zero-percent interest loans for the first year focused on small business assistance.<\/li>\n<\/ul>\n<p>\n        <i>&#8220;As we in <span class=\"xn-location\">Western North Carolina<\/span> continue our long-term recovery, these disaster loan funds will make a meaningful difference in the lives of our families and business owners,&#8221;<\/i> said <b><span class=\"xn-person\">David Dowd<\/span>, president, Bank of America Asheville<\/b>. <i>&#8220;This is part of Bank of America&#8217;s continued commitment to keeping <span class=\"xn-location\">Western North Carolina<\/span> strong. We encourage people to join us in being part of our region&#8217;s comeback story by visiting, supporting small businesses, and enjoying all\u00a0that our beautiful mountains have to offer.&#8221;<\/i>\u00a0<\/p>\n<p>The funding builds on previous support Bank of America has provided to <span class=\"xn-location\">Western North Carolina<\/span> through organizations helping families and small businesses, including: <span class=\"xn-money\">$1 million<\/span> donation for immediate support to organizations providing hurricane relief in the southeast\u00a0that included <span class=\"xn-money\">$200,000<\/span> in funding to both the <span class=\"xn-location\">Asheville Area<\/span> Chamber of Commerce Foundation and Manna Food Bank.\u00a0<\/p>\n<p>Bank employees have spent thousands of hours volunteering to assist with Hurricane Helene recovery.\u00a0 In the initial weeks following Helene, nearly 500 bank teammates were on the ground across the <span class=\"xn-location\">Western North Carolina<\/span> region completing more than 5,000 damage assessments for the American Red Cross, which allowed financial assistance to flow to families more quickly.\u00a0 Additionally, bank volunteers partnered with Habitat for Humanity building tiny homes as well as rebuilding homes for families whose homes were destroyed, among other necessary activities.<\/p>\n<p>Bank of America is the largest private CDFI investor in the U.S., with more than <span class=\"xn-money\">$2 billion<\/span> in loans, deposits, capital grants and equity investments across more than 250 CDFI partners. Bank of America partners with CDFIs in all 50 states and the <span class=\"xn-location\">District of Columbia<\/span> to fund projects that strengthen families, businesses and entire communities.<\/p>\n<p>\n        <b>CDFIs helping to rebuild <span class=\"xn-location\">Western North Carolina<\/span><br \/><\/b>Self-Help Ventures Fund&#8217;s mission is to create economic opportunity for all. With a 34-year presence in <span class=\"xn-location\">Western North Carolina<\/span>, SHVF operates an array of community development programs&#8211; that includes an affordable home loan secondary market purchasing program that has supported <span class=\"xn-money\">$1.4 billion<\/span> in responsible home loans.<\/p>\n<p>Mountain BizWorks aims to build a vibrant entrepreneurial community in <span class=\"xn-location\">Western North Carolina<\/span> by helping entrepreneurs grow strategically and create jobs. Its WNC Strong: Helene Business Recovery Fund was created to provide rapid recovery loans to small businesses suffering economic losses related to the hurricane&#8217;s impacts. More than 700 recovery loans have been provided since the hurricane.<\/p>\n<p>Partner Community Capital is committed to providing flexible capital and advisory services to small businesses, non-profits, and farms with a strong market presence in <span class=\"xn-location\">Western North Carolina<\/span>. Alongside loans, Partner Community Capital connects its clients with valuable business advisory services aimed at empowering them to thrive.\u00a0<\/p>\n<p>\n        <b>Bank of America<br \/><\/b>Bank of America is one of the world&#8217;s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in <span class=\"xn-location\">the United States<\/span>, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across <span class=\"xn-location\">the United States<\/span>, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).<\/p>\n<p>For more Bank of America news, including dividend announcements and other important information, visit the <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4516640-1&amp;h=2515567095&amp;u=http%3A%2F%2Fnewsroom.bankofamerica.com%2F&amp;a=Bank+of+America+newsroom\" target=\"_blank\" rel=\"nofollow\">Bank of America newsroom<\/a> and <a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4516640-1&amp;h=2375531350&amp;u=http%3A%2F%2Fnewsroom.bankofamerica.com%2Falerts&amp;a=register+for+news+email+alerts\" target=\"_blank\" rel=\"nofollow\">register for news email alerts<\/a>.<\/p>\n<p>\n        <b>Reporters may contact<br \/><\/b><br \/>\n        <span class=\"xn-person\">Catherine Page<\/span>, Bank of America\u00a0\u00a0\u00a0\u00a0 <br \/>Phone: 1.704.519.7314<br \/><a href=\"mailto:catherine.page@bofa.com\" target=\"_blank\" rel=\"nofollow\">catherine.page@bofa.com<\/a><\/p>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/edge.prnewswire.com\/c\/img\/favicon.png?sn=NY81107&amp;sd=2025-09-23\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene-302564325.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene-302564325.html<\/a><\/p>\n<p>SOURCE  Bank of America Corporation<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=NY81107&amp;Transmission_Id=202509230805PR_NEWS_USPR_____NY81107&amp;DateId=20250923\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Funding to Support Housing, Home Repairs and Small Business Loans as Hurricane Recovery Continues ASHEVILLE, N.C. , Sept. 23, 2025 \/PRNewswire\/ &#8212; As the Western North Carolina community continues its efforts to rebuild, Bank of America is announcing $12 million in zero-interest loans to Community Development Financial Institutions (CDFI) to support homeowner recovery\u00a0 and small business assistance. The loans will be managed through three CDFIs integrally involved in the region&#8217;s disaster recovery efforts following the devastating impact of Hurricane Helene. Self-Help Ventures Fund (SHVF) will receive $8 million to provide flexible home loans through its credit union network in the region and in partnership with other home lenders. Mountain\u00a0BizWorks will receive $2 million to provide low interest small &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BofA Commits $12 Million for Western North Carolina Residents and Small Businesses Impacted by Hurricane Helene&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-888678","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BofA Commits $12 Million for Western North Carolina Residents and Small Businesses Impacted by Hurricane Helene - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BofA Commits $12 Million for Western North Carolina Residents and Small Businesses Impacted by Hurricane Helene - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Funding to Support Housing, Home Repairs and Small Business Loans as Hurricane Recovery Continues ASHEVILLE, N.C. , Sept. 23, 2025 \/PRNewswire\/ &#8212; As the Western North Carolina community continues its efforts to rebuild, Bank of America is announcing $12 million in zero-interest loans to Community Development Financial Institutions (CDFI) to support homeowner recovery\u00a0 and small business assistance. The loans will be managed through three CDFIs integrally involved in the region&#8217;s disaster recovery efforts following the devastating impact of Hurricane Helene. Self-Help Ventures Fund (SHVF) will receive $8 million to provide flexible home loans through its credit union network in the region and in partnership with other home lenders. 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The loans will be managed through three CDFIs integrally involved in the region&#8217;s disaster recovery efforts following the devastating impact of Hurricane Helene. Self-Help Ventures Fund (SHVF) will receive $8 million to provide flexible home loans through its credit union network in the region and in partnership with other home lenders. Mountain\u00a0BizWorks will receive $2 million to provide low interest small &hellip; Continue reading \"BofA Commits $12 Million for Western North Carolina Residents and Small Businesses Impacted by Hurricane Helene\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/","og_site_name":"Market Newsdesk","article_published_time":"2025-09-23T12:18:53+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1612970\/Bank_of_America_Corporation_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"BofA Commits $12 Million for Western North Carolina Residents and Small Businesses Impacted by Hurricane Helene","datePublished":"2025-09-23T12:18:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/"},"wordCount":806,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1612970\/Bank_of_America_Corporation_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/bofa-commits-12-million-for-western-north-carolina-residents-and-small-businesses-impacted-by-hurricane-helene\/","name":"BofA Commits $12 Million for Western North Carolina Residents and Small Businesses Impacted by Hurricane Helene - 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