It remains to be seen what effect the Small Business Jobs Bill will have on creating new jobs for small business, but one industry is apparently benefitting. Bank of America announced this week that it will hire 1,000 new small business bankers by early 2012 to handle the distribution of small business loans and financing.
“Small businesses play a critical role in driving innovation and growth in our economy, and the steps we’re taking at Bank of America will help create more certainty, more confidence and more opportunity for small businesses in all of our markets,” said the bank’s president and CEO Brian Moynihan during a speech in Boston this week. “Our small business bankers will live and work in the communities they serve, making them uniquely qualified to work with these businesses and provide the best combination of financial services to help them grow.”
Bank of America will expand its small business presence by hiring small business bankers in select banking centers in Dallas, Los Angeles, Baltimore and Washington, D.C., beginning in the fourth quarter of 2010. Hiring will continue in select locations across the country throughout 2011.
These small business bankers will provide more personalized attention to small business owners by spending time with them at their place of business and learning more about what their companies do.
Customers will have convenient access to local small business expertise and a dedicated resource who understands their business. Small business bankers will consult with small business owners and assess their companies’ deposit, credit and cash management needs.