Bank of America makes $7 billion in loans to underserved areas of Nevada
Bank of America announced that it made $7 billion in loans in Nevada during 2009 and 2010 to underserved, minority and low- and moderate-income neighborhoods.
It participated in five Small Business Administration 504 loans that totaled $4 million. The SBA 504 program enables business owners to obtain long-term financing for purchase of equipment and real estate occupied by the borrower.
The national bank also provided $20 million in construction equity to the McKnight Senior Village near Eastern Avenue and Bonanza Road.
Contact reporter John G. Edwards at jedwards@reviewjournal.com or 702-383-0420.
