I was truly disappointed to read your recent editorial in the Lexington County Chronicle. Growing up here, I have spent my career proudly representing our community and helping to meet the financial needs of individuals, small business owners and families so they can be successful and help my hometown continue to prosper.

Small businesses are the backbone of our economy and of our lending at Bank of America. We are the largest lender to small business in the country, including the SBA.

YOUR ASSESSMENT of ‘big banks not wanting to deal with Mom and Pop businesses and sole proprietors’ could not be further from my personal experience after 40 years with the company. My team and I at Bank of America share sincere concern about what we see and experience in South Carolina and in many communities across the country. The global pandemic is underlying economic and social disparities. The urgency is clear for us to do more.

You stated ‘little loan money was left for the small businesses the loans were supposed to help.’ The facts suggest otherwise.

IN SOUTH CAROLINA, 79% of our loans were less than $50,000 and 91% were for less than $100,000. In addition, 82% of loans in South Carolina went to companies with less than 10 employees, 99% to companies with less than 100 employees.

These numbers are in line with our national numbers and are not the ‘big borrowers’ your piece suggests.

Locally, for over 120 years, we have worked with elected officials, business and civic leaders, and others in the communities we serve to help drive economic opportunity and upward mobility. Our work has been in education, workforce development, affordable housing, access to healthcare, community engagement and economic development. In fact, since the beginning of this health and humanitarian crisis, we have already deployed more than $700,000 to local nonprofits providing health services and support to our most vulnerable populations impacted by the coronavirus. We will now substantially increase these efforts.

I HOPE YOU have the time to read more about these actions and become more informed of our efforts. You can visit Bank of America Announces $1 Billion/4-Year Commitment to Support Economic Opportunity Initiatives for more details.

Our long-term commitment to the success of South Carolina, by delivering for our local communities, small businesses and all of our clients will be deepened and enhanced through this effort. I am so proud of this work and the legacy it will establish, which is why is it was so disappointing to see your mischaracterizations of our efforts.