Business
BofA Commits $12 Million for Western North Carolina Residents and Small Businesses Impacted by Hurricane Helene
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 and small business assistance. The loans will be managed through three CDFIs integrally involved in the region's disaster recovery efforts following the devastating impact of Hurricane Helene.
About this update from Bank Of America Corporation
[{"type":"text","content":"Funding to Support Housing, Home Repairs and Small Business Loans as Hurricane Recovery Continues","length":97,"tagName":"p","attribs":{}},{"type":"text","content":"ASHEVILLE, N.C., Sept. 23, 2025 /PRNewswire/ -- 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 and small business assistance. The loans will be managed through three CDFIs integrally involved in the region's disaster recovery efforts following the devastating impact of Hurricane Helene.","length":468,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Bank of America Corporation)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Bank of America Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":218,"url":"https://media.zenfs.com/en/prnewswire.com/4d6fb45aaf101b6a5768c6209ac29c98"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/vBL7vueTUitsFOJUBxvDrQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM4NDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/4d6fb45aaf101b6a5768c6209ac29c98","width":400,"height":218}},"href":"https://mma.prnewswire.com/media/1612970/Bank_of_America_Corporation_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"list","items":[{"val":[{"type":"text","content":"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.","length":176,"tagName":"p"}]},{"val":[{"type":"text","content":"Mountain BizWorks will receive $2 million to provide low interest small business funding assistance loans with no principal repayments during for the first year; and","length":170,"tagName":"p"}]},{"val":[{"type":"text","content":"Partner Community Capital will receive $2 million to provide zero-percent interest loans for the first year focused on small business assistance.","length":145,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":491,"olType":false},{"type":"text","content":""As we in Western North Carolina continue our long-term recovery, these disaster loan funds will make a meaningful difference in the lives of our families and business owners," said David Dowd, president, Bank of Am...