Bank of America said Monday that it has committed $20 million that will go toward loans for small businesses and homeowners impacted by Hurricane Sandy.
The money will flow through 13 Community Development Financial Institutions at a zero percent interest rate, and the bank will defer their principal payments. These institutions will make "low-cost" loans to people trying to rebuild.
The Charlotte bank had previously donated $1 million toward storm relief and put $2 million into a recovery loan fund.
Monday, December 10, 2012
BofA commits $20 million in loans for Sandy victims
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3 comments:
20 million is enough loans for about 40 homes. Wow! Way to step up BA. :-(
Based on your comment, that is 500K per house.....you are a f'in idiot! How much do you donate a year?????
Yes, the first comment officially proves that BAC can do no right. I imagine if they planned to open the Corporate Center lobby for the homeless to sleep in, some idiot would come along and tell us the food in that area is too expensive and the bums wouldn't be able to feed themselves.
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