Bank of America 2009 Annual Report Download - page 16
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14 Bank of America 2009
By making
every good
loan we can.
Consumers Bank of America is
one of the largest providers of
consumer credit in the world,
extending more than $430 billion
in consumer loans in 2009. These
loans, which range from fi rst mort-
gage and home equity loans to
credit card and other consumer
unsecured loans, help customers
fi nance their dreams.
Businesses Small businesses are
vital to the growth and stability of
our economy. We currently have
more than $41 billion in outstand-
ing small- and medium-business
loans. In 2009, we extended more
than $16 billion in credit to small-
and medium-business customers
and approximately $310 billion to
large commercial relationships.
For 2010, Bank of America has
pledged to increase lending to
small- and medium-sized busi-
nesses, an engine of job creation
in our economy, by $5 billion.
Access to credit is essential to eco-
nomic recovery and growth. That’s
why Bank of America is open for busi-
ness — helping our customers drive
the economy forward. In 2009, Bank of
America extended more than $758 bil-
lion in credit to consumer and com-
mercial clients, which works out to
about $3 billion per business day.