Bank of America Community Development Banking Provided a Record $4.88 Billion in Lending and Investing in 2019
Thursday, February 20, 2020
Bank of America Community Development Banking (CDB) provided a record $4.88 billion in loans, tax credit equity investments, and other real estate development solutions, surpassing last year’s record of $4.7 billion. CDB delivers innovative financing solutions to help create affordable housing for individuals, families, seniors, students, veterans, the formerly homeless, and those with special needs. These efforts are part of the company’s commitment to deploying capital to address global issues outlined in the United Nations Sustainable Development Goals (SDGs).
Bank of America Global Corporate and Investment Banking also provided $351 million in tax credit investments, resulting in an additional 4,400 affordable housing units for a total of $5.23 billion in affordable housing financing from Bank of America.