Frequently Asked Questions.

What is the Supplier Development Program?

In 1990, Bank of America established the Supplier Development Program to ensure that diverse businesses are included in our competitive bidding process.

Why did Bank of America establish this program?

We believe that by supporting these businesses, we can help alleviate disparities in the business sector. We believe that our support advances economic opportunity, which, in turn, has a positive effect on our communities.

Is the program the result of a mandate imposed by the government or bank regulators?

No. Bank of America created the Supplier Development Program to fulfill our company's commitment to increasing the number of diverse businesses that bid to provide goods and services to the bank.

How does the Supplier Development Program help these businesses?

Registered diverse businesses will be considered when Bank of America purchases needed products and services. Registered businesses can also take advantage of workshops and networking opportunities offered through the initiative, and may be selected for special mentoring programs or executive management scholarships at major universities.

We also work to build subcontracting relationships between diverse businesses and our primary suppliers so companies like yours can potentially provide products and services to other companies in addition to Bank of America.

What is a diverse business?

Your company must be at least 51% owned, operated and controlled by a minority, woman or disabled person who is a U.S. Citizen.

A minority-owned business is a business owned by one or more persons who are:

• Asian Indian
  
• Asian Pacific
  
• African American
  
• Hispanic
  
• Native American

A woman-owned business is one owned by one or more women regardless of ethnic origin.

A disabled -owned business is one owned by one or more disabled persons with a permanent mental or physical impairment that substantially limits one or more of the major life activities and has a significant negative impact on the company's ability to successfully compete.

Does the Supplier Development Program provide financial assistance to suppliers?

The Supplier Development Program is dedicated to working with diverse businesses to ensure their participation in the bank's contracting and procurement processes.

At your request, we will refer your company to associates who can provide information about loans and other accounts and services.

How do I know if my company offers the products or services Bank of America needs?

View a list of the products and/or services that Bank of America purchases

How do I register to be considered for procurement opportunities at Bank of America?

Register now to be included in our Supplier database. You will be contacted should an opportunity become available which matches your company's product and/or service offering.