By Michael Souza
PBN Staff Writer
BOSTON – Bank of America is making good on its plan to hire 1,000 small business bankers nationally by mid-2012. On Monday, the bank said 51 of those will be in New England.
Five new hires will be based in Rhode Island, while 32 will be in Massachusetts, including 13 in the greater Boston market. An additional 14 will be brought on board in Connecticut.
The bankers will consult with small business owners at their place of business and assess their companies' deposit, credit and cash management needs, Bank of America said in a news release.
“Our small business bankers will provide business owners in New England with the tools they need to continue to be the engine that drives our local and national economy forward,” Bob Gallery, Massachusetts president for Bank of America, said in a statement.
There are more than 400,000 small businesses in Rhode Island and Connecticut, Bank of America said citing data from the U.S. Small Business Administration.
Bank of America said it extended $6.4 billion in new originations to small businesses in 2011, increasing new credit to small businesses by 20 percent in 2011.