Bank of America offers new small business services

Oct 15th, 2010 Business, Featured News. RSS 2.0.

small business services 300x199 Bank of America offers new small business servicesA new program that will offer new lending options and small business services would soon be available for Bank of America customers in the Washington region, the bank announced on Thursday.

The new offering comes after the Obama administration called for U.S. banks to help the small business sector.

“Anything that any of us can do to create more economic certainty should have a positive effect,” Bank of America chief executive Brian Moynihan said in a statement.

Up to 1,000 new employees would be hired over the next 12 months under the program, which will be initially offered in Washington, Baltimore, Dallas and Los Angeles.

Small businesses provide about 50 percent of all jobs in the private sector and fueled 64 percent of job growth during the last 15 years, according to data from the Small Business Administration.

President Barack Obama has pointed out repeatedly that improving small business services would create more jobs and help the economy to recover.

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