Bank of America

Overview

Bank of America Corporation (abbreviated as BofA) is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina, United States. It is ranked 2nd on the list of largest banks in the United States by assets. As of 2016, Bank of America was the 26th largest company in the United States by total revenue. In 2016, it was ranked #11 on the Forbes Magazine Global 2000 list of largest companies in the world.

Its acquisition of Merrill Lynch in 2008 made it the world’s largest wealth management corporation and a major player in the investment banking market. As of December 31, 2016, it had US$886.148 billion in assets under management (AUM).

As of December 31, 2016, the company held 10.73% of all bank deposits in the United States. It is one of the Big Four banks in the United States, along with Citigroup, JPMorgan Chase and Wells Fargo—its main competitors. Bank of America operates—but does not necessarily maintain retail branches — in all 50 states of the United States, the District of Columbia and more than 40 other countries. It has a retail banking footprint that serves approximately 46 million consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines (ATMs).



Bank of America provides its products and services through 4,600 retail financial centers, approximately 15,900 automated teller machines, call centers, and online and mobile banking platforms. The bank’s Consumer Real Estate Services segment offers consumeto

Bank of America has been the subject of many lawsuits and investigations regarding both mortgages and financial disclosures dating back to the financial crisis, including a record settlement of $16.65 billion on August 21, 2014



Loan Features

Bank of America offers the following loan products and services:
1. Home Loans – Whether you’ve found your dream home, or you’re securing your forever home
2. Auto Loans – Save with a low rate on a new or refinance auto loan
3. Credit Cards – Find the perfect credit card from among our most popular options
4. Investing – Enjoy a streamlined investing experience with Merrill Edge
5. Savings – Savings made simple and rewarding

Application Process

To apply for a secured business loan, you’ll need to call or visit your local branch. You can make this appointment online.

Bank of America requires the following information:
Full name and home street address (no PO boxes)
Home phone number
Social Security number and date of birth
Personal income
Residence status and monthly housing payment

To apply for a secured business loan introduce with the following personal and business information:
Your business name and street address (no PO boxes), including the date you moved to that address
Your phone number
The nature of your business and number of employees
The date you established your business or the acquisition date of its current ownership
Your tax ID
Annual net profit and annual gross sales
List of any outstanding obligations

Repayment Terms

Interest rate. Competitive
Loan security. Secured
Repayment type. Depends on loan terms
Minimum loan amount. $25,000
Maximum loan amount. $2 million

Customer Support

Bank of America (Main office):
100 N. Tryon St.
Charlotte, NC
28255

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