Bank of America Commits Over $1 Million for Texas Flood Recovery
Bank of America has announced an additional $1.05 million in funding to support flood recovery efforts across Central and South Texas, bringing its total regional commitment to $3 million. The new funds include a $1 million donation to LiftFund, aimed at helping small businesses stabilize operations, preserve jobs, and rebuild after consecutive years of severe flooding. An additional $50,000 is being allocated to the American Red Cross for immediate community relief. The funding will be used through LiftFund's Small Business Disaster Recovery & Resilience Fund, with $800,000 in capital support and an extra $200,000 dedicated to staffing, advising, outreach, compliance, reporting, and program administration. This initiative is part of Bank of America’s ongoing efforts following its previous $2 million commitment after the 2025 floods. LiftFund has already mobilized recovery operations in affected areas, working directly with small businesses to provide capital and support services. The bank's president for San Antonio emphasized that these actions aim not only at immediate relief but also long-term community resilience.
Tickers: $BAC
Topics: community development flood relief small business support