It's all part of a plan to eventually hire over 1,000 new small business bankers across the nation. Bank of America announced today that it will hire nearly 100 small business bankers in Texas - including Austin, Dallas, Fort Worth, Houston and San Antonio - by the end of first quarter 2012.
The Dallas-Fort Worth region was among the first three markets in the country to begin hiring Bank of America small business bankers, and more than 75 bankers have already been hired throughout Texas already.
Approximately 96 percent of all businesses in Texas are small businesses with less than 100 employees. Those employees account for about one third of the state's workforce, according to the U.S. Census Bureau.
Bank of America extended $18 billion of credit to small businesses in 2010, up from $16.5 billion in 2009. As of March 31 of this year, 96 grants totaling more than $6.4 million have gone to nonprofit lenders who have used the funds to access over eight times that amount, $53 million, in microloan capital, enabling them to make more than 3,000 microloans to small businesses and start-ups, helping to retain or create more than 7,000 jobs in local communities across the nation.