About the Bank of America Minority Business Fund Scholarship
The Bank of America Minority Business Fund Scholarship is a grant-based program designed to provide targeted training and development support to qualified certified Small and Diverse Business owners, as well as to support Diverse Business initiatives. Scholarship recipients will be given the opportunity to further enhance the business operations functions within their companies and position them to become better able to compete for increased business.
Timeline to Apply for a 2015 Bank of America Minority Business Fund Scholarship
- Monday, October 26, 2015: Online applications become available at boa-minority.academicworks.com.
- Friday, December 18, 2015: Online application period closes; no applications for the 2016 cycle will be accepted after midnight (CST) on this date.
- By February 29, 2016: Applicants will be notified by this date as to whether or not they are a recipient of a scholarship.
Scholarships Awarded
The Bank of America Minority Business Fund Scholarship Selection Committee will award a minimum of 21 scholarships as eligible applicants are identified through the selection process. Scholarship amounts will vary, with each not to exceed $10,000. Scholarships may be used for:
- Tuition, books and fees for training in the following areas:
- Mentorship Programs
- LEED Certifications
- Advanced Industry Training
- Six Sigma Certification
- Capacity Building Programs
- Technology Training
- Educational Programs
- At any accredited college or university or any non-profit organization offering programs in the areas listed above in the United States or its possessions. All programs submitted for scholarship reimbursement (especially if not a nonprofit organization) must be vetted and approved by CFT.
- Scholarship recipient must attend the approved course within 12 months of receiving the award.
- Scholarships available for the majority business owner only and not to any other employees of the company.
General Scholarship Criteria
Criteria for this scholarship include (but are not limited to):
- Business must be currently certified by the NMSDC (National Minority Supplier Development Council);
- Business must have an annual sales of between $1,000,000 and $50,000,000;
- Business must employ at least (5) full-time employees;
- Business owner must have a minimum of three years experience developing and running their company;
- Business owner must be a first-time attendee for the specific program they are submitting for scholarship support; and
- Scholarship recipient must attend the approved course within 12 months of receiving the award.
To Apply for the Bank of America Minority Business Fund Scholarship
To apply to the Bank of America Minority Business Fund Scholarship click here.
- Only online applications through the Bank of America Minority Business Fund Scholarship site will be accepted.
- Deadline to submit online applications is midnight (CST) on Friday, December 18, 2015.
- The program for which you are applying for scholarship funds, the name of the institution providing the program and the cost of tuition, books and fees for this program is required information for the application. You may only submit a request for scholarship support of one specific program.
- Trustees and employees of Communities Foundation of Texas or Bank of America, as well as families or other related parties, scholarship fund advisors, committee members or any other persons related to any person involved in the administration or awarding the Bank of America Minority Business Fund Scholarship are not eligible to apply.
- Please note: Once you begin your online application, you have the option to save your work and return to it as often as you like prior to the December 18, 2015 deadline.
For More Information
For more information on the Bank of America Minority Business Fund Scholarship, please contact Abigail Hazlett at Communities Foundation of Texas at ahazlett@cftexas.org.
