Daily News: June 27, 2012

BofA Hires 30 Small Business Bankers in Washington

Bank of America announced 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.”

Citing the U.S. Small Business Administration, BofA said there are 532,162 small businesses in Washington and that these businesses account for over 97% of all employers and employ over 50% of the private-sector workforce.

BofA said it has continued to actively lend to small businesses across the U.S. and Washington. In the first quarter of 2012, it extended more than $106 million to small businesses across the state, a six 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, BofA said.