Michael Record joined Northwest Bank as executive vice president and head of restaurant and franchise finance. In this new role, Record will build out Northwest Bank’s restaurant and franchise finance business line as part of its commercial lending portfolio.
Northwest Bank appointed Jay DesMarteau senior executive vice president and chief commercial banking officer. In this role, DesMarteau will provide strategic leadership and operational oversight for all aspects of Northwest Bank’s commercial banking business.
According to TD Bank’s 2021 small business survey, 41% of small business owners expect to grow their revenue in 2021, while only 9% anticipate a decline.
More than half (58%) of small business owners reported that they expect their revenue to decrease in 2020, even though 47% said they did not have to close for any amount of time during the COVID-19 pandemic, according to data from TD Bank.
TD Bank named Jeff Fazio head of small business specialists, a new role created to lead a specialist team of approximately 100 employees that focuses on small businesses with revenues of $1 million and under.