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Bank of America to Provide Banking Help to Small Businesses
Published on Jul 14, 2011
Read our article, 'Bank of America to Provide Banking Help to Small Businesses' at 'Time to Start Up,' the small business blog by BizFilings.
While trying to run a business and its employees, many small business owners don’t have the time to manage their finances. Bank of America aims to simplify the lives of many small business owners by hiring 1,000 small business bankers across the country.
These bankers will meet with small business owners at their convenience to provide expertise and assess their companies’ deposit, credit and cash management needs. Working extensively with small businesses in Texas, the new bankers will delve deep into the framework of each small business to understand and provide counseling to the individual needs of each business.
“Our small business customers want a banking relationship that meets them where they are, providing solutions that are tailored for their business,” said Anna Colton, small business bankers national sales executive for Bank of America.
Bank of America is also helping small business owners in New York gain equity. By lending them money to buy instead of rent, they are taking advantage of the low prices resulting from the recession.
Tom Carley, business banking executive for the New York market at Bank of America, believes owning instead of renting allows small business owners to “control their destiny” and no longer have to deal with being a landlord’s tenant.