Bank of America's hiring spree continues. With a plan to eventually hire 1,000 small business bankers nationwide, Bank of America announced today that it has hired more than 90 small business bankers in the New York, New Jersey and Connecticut area.
"We've hired approximately 550 small business bankers to date," said T.J. Crawford, a spokesman for Bank of America. "These individuals have experience meeting with and talking to small business clients about their businesses and their financial needs including treasury, credit and merchant needs. Most have 5+ years banking experience and our managers have on average 18 years."
Today's announcement includes 28 bankers in New York City, 36 in Northern New Jersey, 18 on Long Island and 12 in Westchester and Southern Connecticut.
"Small businesses make up the vast majority of all businesses in the tri-state area, and they are truly the heart and soul of the local economy," said Jeff Barker, New York City market president for Bank of America. "Bank of America will now have a network of local small business bankers who will be as much a part of the business community as the small business owners they work with and serve every day."
In September, Bank of America announced the hiring of 29 small business bankers throughout Arizona and 18 in Nevada. Earlier this year, the company hired nearly 100 small business bankers in Texas, more than 75 in the mid-Atlantic region and another 100 in the Los Angeles area.
"With the hiring of our small business bankers, Bank of America is taking on a personalized approach to helping a small business owner with their cash management issues," said Raj Kochhar, Small Business Banker region executive for the Northeast. "Through a relationship with a small business banker, small business owners will have someone they can go to who can help them with every aspect of their finances - from deposit and credit needs, to payroll solutions, to connecting them with other Bank of America specialists who can advise them on anything from commercial real estate to their own personal investment portfolio."
In the first half of this year, the bank extended $7.8 billion of credit to small businesses to show its continued effort to support small businesses. It is also one of 13 banks that pledged to the White House and the Small Business Administration to increase lending to small businesses by $20 billion in the next three years. From its commitment to helping out small businesses, Bank of America is expected to hire a few hundred more small business bankers across the nation in the near future.