As a small business owner, you have a variety of stakeholders. From your employees to your suppliers to members of the community, your small business comes with big responsibilities. Bank of America Merrill Lynch understands how vital it is for your company to succeed. That's why we're committed to helping you at every step to achieve your goals with online resources and targeted solutions designed for businesses like yours.
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Bank of America Merrill Lynch has taken action to support small businesses and is committed to continuing to deliver.
We continued to actively lend to small businesses across the U.S. in 2011, originating $6.4 billion in new credit to small businesses in 2011. This was a 20% increase in new originations over 2010.
We are among 13 banks that have pledged to the White House and the Small Business Association (SBA) to increase small business lending by a total of $20 billion over the next three years. In 2011, the bank exceeded its pledge to increase new small business lending by $1 billion.
We are a top lender in the SBA 504 program. In the 2011 fiscal year we originated more than $589 million in new first- and second-trust deed loans with long-term, fixed-rate financing – up to 11% from 2010.1 We also offer 7(a) and Express loans.
We have hired more than 700 Small Business Bankers in the past year and plan to hire roughly 1,000 total across the U.S. by mid-2012.
1Based on 2011 gross loan approval as provided by the SBA.
Small Business Success Stories: Pet Depot and EMTEQUE (video)
Watch this short video which highlights how Bank of America Merrill Lynch works with two clients – Pet Depot and EMTEQUE Corporation.More
Reducing the Cash Conversion Cycle
Getting money in-house faster can help businesses reduce costs and stabilize cash flow, which is the lifeblood of any business.Download PDF (1 MB) More
Market Smart on a Tight Budget
When every penny counts (and even when it doesn't), make sure you're getting actual returns on your marketing investment. The secret to lean marketing is to measure the effectiveness of your outreach as you go and take full advantage of each cost-effective refinement. Particularly in tough times, it's crucial for companies to understand who their customers are and how to reach them without breaking the bank.Download PDF (1 MB) More
The Voice of Experience
Many companies depend on their advisory boards, panels of trusted outside experts who can offer unbiased, strategic advice. If you're ready to build a team for your business, these starting points will help.Download PDF (456.4 KB) More
Emerging Stronger from a Lean Season
Lean times can spark a creative drive to efficiency. The following ideas can help prepare your business for longer-term success.Download PDF (653.9 KB) More
Back to Basics: Combating fraud to protect economic gains
Whatever the size of your company, fraud technology should be an integral part of your cash management strategy. Now is the time to consult with your relationship banker and determine what steps can be taken to help protect your business. Two of the most effective fraud protection tools are Positive Pay, a check fraud prevention tool, and ACH Positive Pay, an electronic payment fraud prevention tool.Download PDF (737 KB) More
- Small Business Success Stories: Pet Depot and EMTEQUE (video) Case Study
- Reducing the Cash Conversion Cycle Article
- Market Smart on a Tight Budget Article
- The Voice of Experience Article
- Emerging Stronger from a Lean Season Article
- Back to Basics: Combating fraud to protect economic gains Article