Associate Director of Marketing and Communications
Mission Economic Development Agency (MEDA)
(415) 282-3334 ext. 152
FOR IMMEDIATE RELEASE
Sept. 18, 2020
MEDA Awarded COVID-19 Grant from Bank of America
Funding to help Mission District Latinx and immigrant community weather the pandemic
San Francisco — Bank of America has awarded the Mission Economic Development Agency (MEDA) a $25,000 grant to combat the disproportionate effects of the COVID-19 pandemic on the economic health of residents of San Francisco Mission District. Specifically, this grant will support MEDA’s COVID-19 crisis response for San Francisco’s low- and moderate-income Latino and immigrant families.
This grant is part of Bank of America’s $1 billion, four-year commitment of additional support to help local communities address economic and racial inequality accelerated by a global pandemic. The programs will be focused on assisting people and communities of color that have experienced a greater impact from the health crisis.
“Underlying economic and social disparities that exist have accelerated and intensified during the global pandemic,” said CEO Brian Moynihan. “Recent events have created a sense of true urgency that has arisen across our nation, particularly in view of the racial injustices we have seen in the communities where we work and live. We all need to do more.”
“MEDA thanks Bank of America for its ongoing support of MEDA’s community-development work,” said CEO Luis Granados. “This grant will support our immediate efforts to help the Latinx and immigrant community of the Mission District weather this COVID-19 crisis.”
This work builds on steps Bank of America has already taken, including an additional $100 million to support its nonprofit partners across its communities, and $250 million to assist with lending to the smallest and minority-owned businesses through its support to community development financial and minority depository institutions.
About Mission Economic Development Agency (MEDA)
Rooted in the Mission and focused on San Francisco, MEDA’s mission is to strengthen low- and moderate-income Latino families by promoting economic equity and social justice through asset building and community development.
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 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 3,000 lending centers, 2,700 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,100 business centers; approximately 16,900 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 30 million mobile 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 3 million small business owners 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 approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.