TAAHP Member Bank of America Merrill Lynch Community Development Banking was reported to have provide a record amount ($4.7 Billion) in loans, tax credit investments and other development solutions in 2018. This was up from $4.53 billion in 2017. The funds were provided to finance affordable housing, charter schools and other economic development across the U.S. The company has a commitment to provide the capital needed to address global issues outlined by the United Nations.
“We remain committed to financing deals that make a lasting impact in the communities we serve,” said Maria Barry, Community Development Banking national executive at Bank of America Merrill Lynch. “Bringing the full resources of the bank, Community Development Banking takes a holistic approach to help provide safe affordable housing, educational opportunities and economic development to help support the long-term sustainability of communities across the country.”
The company works to create affordable housing for individuals, families, seniors, students, veterans, the formerly homeless, those with special needs and other at-risk groups.