In its ongoing commitment to small and medium-sized companies and their efforts to create jobs, todayannounced Bank of America that it awarded $ 45400000000 these companies in the first half of 2010. This amount represents an increase in lending of nearly $ 9000000000 over the same period last year.

agreed in December last year, Bank of America, lending to small and medium enterprises by increasing 5000000000 $ to 2010th The company borrowed 81400000000 $ on these companies in 2009, and awarded this year 19.4 billion U.S. dollars in the first quarter, more than 26 billion U.S. dollars in the second quarter.

“Small and medium-sized businesses are central to the nation’s economy and will be a critical part of the recovery – both as an economic engine for production and growth and as a source of good jobs,” said David Darnell, president of Global Commercial Banking for Bank of America. “In large measure, these businesses have weathered enormously difficult conditions. During that time, they have very clearly told us that while getting loans is important, what they continue to need most is more demand for their goods and services. We are working to help business owners in many different ways.”

Bank of America serves approximately 4 million small businesses across the U.S. In addition to lending, the bank has pledged to increase its spending with small, medium-sized and diverse businesses by purchasing $10 billion in products and services from those suppliers over the next five years. Other efforts to help small businesses include recent improvements to the bank’s 2 million small business credit card accounts – such as no rate increases on existing balances – and enhancements to the Advisor Alliance™ retirement plan platform, which serves more than 900,000 people from more than 40,000 businesses.

“Every large corporation in the U.S. should commit to helping small and medium-sized businesses in this difficult time as part of their responsibility to aid the American recovery,” Darnell said. “At Bank of America, we are doing as much as we can and are looking for ways to do more.”

On July 29, Bank of America also will release its Lending and Investing Initiative report for the second quarter of 2010, which outlines the credit extended in areas critical to the nation’s economic recovery. In addition to small business lending, the report will detail residential mortgage activity,home loan modifications, commercial and corporate lending, and financing to Community Development Financial Institutions (CDFIs). The report will be available at http://bankofamerica.com/opportunity.

Bank of America

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with 5,900 retail banking offices, more than 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are both registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed

www.bankofamerica.com

Contacts
Reporters May Contact:
Jefferson George, Bank of America, 1.980.683.4798
jefferson.george@bankofamerica.com

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