ALBUQUERQUE, NM — DreamSpring is thrilled to announce that it is the recipient of four 2024 Economic Mobility Grants from Bank of America, fueling entrepreneurship and economic growth in four key markets. The $75,000 will drive entrepreneurship in Albuquerque, New Mexico; Phoenix, Arizona; Houston, Texas; and Charlotte, North Carolina.
“Small businesses are at the heart of thriving communities, and access to capital is a game-changer,” says Anne Haines, President and CEO of DreamSpring. “Bank of America’s generous support allows us to deepen our impact in these four markets, helping even more entrepreneurs achieve their dreams and contribute to economic growth.”
The grants are the latest in an ongoing partnership between Bank of America and DreamSpring, which is centered on advancing economic mobility and uplifting local communities in their shared footprint.
U.S. Army veteran and entrepreneur Margo Jordan knows how transformational access to capital can be. Margo is the founder of Enrichly, a Houston-founded business focused on promoting self-esteem and personal development for youth. DreamSpring’s support allowed her to move into a larger space and eventually shift her focus to digital offerings. Today, her platform provides mental health and confidence-building resources for young people across the country.
“Our city is known for being a global hub of business and innovation, and small businesses play a big role in our economy. DreamSpring is providing the capital and guidance needed to support entrepreneurs in growing their business and creating jobs that will have a lasting impact,” says Hong Ogle, president, Bank of America Houston. “Bank of America is deeply committed to cultivating a vibrant small business community and creating economic opportunity in Houston. We do this by connecting our resources to organizations, like DreamSpring, that are giving people opportunities to pursue their dreams.”
Entrepreneurs need financial tools, guidance, and encouragement to turn their aspirations into reality and foster lasting economic growth and resilience. Support from partners like Bank of America is vital to the small businesses served by DreamSpring, a nonprofit Community Development Financial Institution (CDFI) and Small Business Administration (SBA) lender.
For over 30 years, DreamSpring has opened doors of opportunity to small business owners through access to capital and personalized support. To date, the nonprofit CDFI has disbursed nearly 50,000 loans to entrepreneurs from diverse backgrounds, fueling inclusion and economic empowerment across the U.S.
Thanks to Bank of America’s support, DreamSpring is making good on its mission of helping entrepreneurs transform their ideas into thriving businesses — driving economic mobility, creating jobs, and strengthening the fabric of their communities.
About DreamSpring
About Bank of America
Bank of America is one of the world’s leading 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 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, 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 households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
