Bank of America announced $1,124,000 in economic development grants given to 52 nonprofits that help stimulate local business and neighborhood revitalization in communities across Los Angeles. Nonprofits receiving the funds provide services ranging from affordable housing and community development resources to small business support and arts and culture programs that stimulate the local economy.

Bank of America generously supported The Valley Economic Alliance with a $15,000 grant, supporting their Workforce and Economic Development initiative. TVEA is very proud to partner with Bank of America in helping make the San Fernando Valley a better place to live, work, learn and play. 

"By investing in these nonprofits, Bank of America aims to create economic opportunity for entire communities through programs ranging from neighborhood revitalization to scaling small business micro-lending support. As the economy continues to boom, we want to help ensure Los Angeles' position as a desirable - and attainable - place to live, work and conduct business for all Angelinos," said Raul Anaya, Los Angeles Market President for Bank of America.

Among these grant recipients is Opportunity Fund, which provides micro-loans to businesses and micro-enterprises that may not yet qualify for traditional bank credit. A west coast Community Development Financial Institution (CDFI) that supports underserved businesses and communities across the nation, Opportunity Fund has seen rapid expansion of its services into Southern California, with nearly one-third of its lending going to Los Angeles entrepreneurs this year alone. While Bank of America is a long-time investor lending capital to Opportunity Fund, this $20,000 grant will help the nonprofit with its staffing and capacity to achieve its goal of investing $22 million with Los Angeles entrepreneurs in 2019, stimulating $43 million in new economic activity across California.

"Talent and toil should be enough for determined entrepreneurs to succeed. But access to capital remains a central challenge. Opportunity Fund is building a more inclusive financial system and this support from Opportunity Fund ensures that we can say 'Yes' to more business owners in Los Angeles, especially women, immigrants, and minority business owners," said Iosefa Alofaituli, Southern California Regional Director for Opportunity Fund.

Advancing economic mobility through community development partnerships is just one example of Bank of America's commitment to responsible growth and shared success as it works to improve the financial lives of individuals and families in the Inland Empire. Earlier this year, the bank awarded $2.2 million in grants to 83 nonprofits addressing workforce readiness, emergency shelter and basic needs such as hunger and other barriers to economic mobility for individuals and families.

"He was an amazing man and an awesome father," said daughter Nicole Chase, acting President of the Club. "He was more committed to this community than I think most people knew. He believed in giving the young people the best. Nothing secondhand, it was about the best."

Chase is survived by wife Shirin Chase; daughters Kymberly, Nicole and Danielle; mother Ruth Smith; brother Daryl Smith; sister Barbara Jung; three grandchildren, uncles and aunts, nieces and nephews, and cousins.

Bank of America hosted the 2018 Neighborhood Builders Awards Celebration Dinner  on November 7th at the California Science Center.

 

This event highlighted two Neighborhood Builders Award recipients for Los Angeles, and celebrated the 15th anniversary of the program.

 

Pictured is Raúl Bustillos Senior Vice President and Community Relations of Bank of America.

The City of Burbank and TechFire presented Burbank Tech Talk with Matthew Goldman, Founder of Wallaby Financial on November 14th at the Burbank Buena Vista Brand Library. 

Matthew presented the secrets of entrepreneurial success and shared lessons from being a start up in an accelerator program, growing and being acquired to sell his company to Bankrate. 

Los Angeles Police Department's Senior Lead Officers hosted a Business Watch meeting for Panorama City and Arleta on November 7th at the Holiday Inn Express Hotel. 

Are you Prepared? Shift Happens! Conference

Friday, January 11, 2019

7:30am-1:30pm

Student Union Center - Cal State University Northridge