Bank of America said Wednesday that it added 31 small business bankers in the Bay Area, plus another 15 in the San Jose area, as part of its efforts to add more than 70 small business bankers in Northern California.
The bank is hiring about 1,000 small business bankers nationwide in an initiative that began about a year ago.
The effort is paying off. BofA says small business lending rose 20 percent nationally last year, and expects to surpass that gain "significantly" this year, says Emily Shanks, BofA's small business banking executive region executive for the West, based in Concord.
Last year's 20 percent increase represented $6.4 billion in new credit to small businesses nationally, Shanks said.
The Bay Area is a key market for the bank and its small business lending.
"Northern California remains a hotbed for entrepreneurship and is cultivating some of the most inspired leaders in the small business segment," Shanks said.
Separately, BofA (NYSE: BAC) debuted a small business survey this month that's expected to be conducted twice a year.
The survey found that Bay Area small business owners say their greatest concerns center on health care costs, credit availability and a recovery in consumer spending.
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