Bank of America announced today that it has hired more than 30 small
business bankers throughout the state of Washington to provide guidance
and counsel to local small business owners. Ten of these hires are
located in the Seattle metro area. These additions are part of the
bank’s previously announced plan to hire approximately 1,000 small
business bankers nationwide.
“Small businesses are without question the primary driver of the
Washington economy. The hiring of our small business bankers will bring
more expertise to business owners so they can remain focused on growth,”
said Roger Forman, Small Business Banker manager for Washington. “In
communities across Washington, Bank of America’s small business bankers
will be meeting with clients on their turf to better understand their
unique needs. By forging deeper relationships with clients, we’ll be
able to help them meet their goals more efficiently, which in turn will
help our entire state.”
According to the U.S. Small Business Administration (SBA), there are
532,162 small businesses in Washington. These businesses account for
over 97 percent of all employers and employ over 50 percent of the
private-sector workforce.
Through a small business banker relationship with Bank of America,
clients will have convenient access to local small business expertise
and a dedicated resource that knows their business. Small business
bankers will consult with small business owners at their place of
business and assess their deposit, credit and cash management needs.
Bank of America has continued to actively lend to small businesses
across the U.S. and Washington. In the first quarter of 2012, Bank of
America extended more than $106 million to small businesses across the
state, a 6 percent increase over the same period in 2011. This includes
$60.8 million in new originations, which has helped enable Bank of
America to exceed its national small business lending pledge to the
White House and the SBA.
Bank of America is also the leading bank supporting Community
Development Financial Institutions (CDFIs), providing more than $200
million to finance small businesses that cannot qualify for traditional
loans. The CDFI grant program, created in 2010 to unlock low-cost
Federal micro-capital for small businesses, has allowed CDFIs to access
more than $102 million from the SBA and USDA, serving over 9,000 local
businesses and helping to retain more than 14,000 jobs.
Bank of America
Bank of America is one of the world's largest financial institutions,
serving individual consumers, small- and middle-market businesses and
large corporations with a full range of banking, investing, asset
management and other financial and risk management products and
services. The company provides unmatched convenience in the United
States, serving approximately 57 million consumer and small business
relationships with approximately 5,700 retail banking offices and
approximately 17,250 ATMs and award-winning online banking with 30
million active users. Bank of America is among the world's leading
wealth management companies and is a global leader in corporate and
investment banking and trading across a broad range of asset classes,
serving corporations, governments, institutions and individuals around
the world. Bank of America offers industry-leading support to
approximately 4 million small business owners through a suite of
innovative, easy-to-use online products and services. The company serves
clients through operations in more than 40 countries. Bank of America
Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial
Average and is listed on the New York Stock Exchange.
For more Bank of America news, visit the Bank
of America newsroom.
www.bankofamerica.com
