According to Inc.com, Bank of America has set aside $10 million for the Opportunity Finance Network. The network is made up of almost 200 financial firms that promote small business lending in low- and middle-income neighborhoods nationwide. They'll start out using the new funds in California, but ultimately the investments should benefit community-development institutions nationwide.
The group, formerly known as the National Community Capital Association, apparently provided more than $9 million in investments for women- and minority-owned businesses in 2004, as well as affordable housing and community service projects.
Depending on your location, such funding opportunities may be an option if you're looking for assistance getting your small-or home-based business off the ground. It goes without saying that if you are running a successful enterprise this sort of investing may well be the prime way to help share your largess and earn a good PR rating while you're at it. Try contacting Opportunity Finance Network or look up a similar organization in your area and see how they can help you...or how you can help them.
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