Bank of America Corp. said Wednesday that it has issued 40 grants totaling more than $3.7 million to fund microloan programs.
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The Charlotte company awarded the grants over the past six weeks to community development financial institutions and other nonprofit groups, delivering on a pledge made in July. B of A said recipients have used the grants to access about $27.5 million of lending capital from the Small Business Administration and Department of Agriculture. Bank of America will make more grants available through December 2011.
