Everyone enjoys a daily thrashing of Bank of America, so I thought I would blog about something good that they are doing!!! Yes, they do some good too!!! Bank of America is supporting small business, and the lender wants to make sure you know about it. In a recent public statement, Bank of America’s small business executive Robb Hilson announced that the lender spent 2012 “respond[ing] directly to what our clients asked for – locally-based small business experts,” and that the results included a 28-percent leap in small business lending in 2012. At the beginning of 2010, BofA initiated a plan to hire 1,000 small business lenders nationwide, including 40 in the San Francisco Bay area alone. The small business lenders were trained to deal specifically with small businesses and provided services such as traveling to small business locations to meet with customers. BofA says it has met with more than 300,000 small business owners since the start of the initiative.
In Florida, the lender has increased its small business lending by 45 percent in 2012 and originated $846.2 million in small business loans in the past 12 months alone. Hillson credits the bank’s success in the small business arena with “provid[ing] small businesses with the financial solutions necessary to sustain and grow their business.”
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