SBA Business Loan Program Expanded by SunTrust Bank

Here is some encouraging news for small business owners.  SunTrust Bank is expanding its small business loan program.  Please note that obtaining working capital using invoice factoring (financing) is easier than a bank loan.  www.acdfinancial.com.  #smallbiz

 

SBA Business Loan Program Expanded by SunTrust Bank
by _anitalancaster_ (http://businessservicenews.com/author/anitalancaster/)
on November 15, 2010

The SunTrust Bank has decided to expand its SBA business loan program and
business activities in a bid to attract more small business clients. The
bank also plans to focus on advisory and online services.

SunTrust is already training its business bankers according to client
needs. It is particularly giving training on cash flow cycles.

Similar step is being taken by a number of other banks in Washington.
SunTrust is planning to expand their SBA business loan program next year
with a team of SBA bankers. The bank believes that business banking is
becoming quite easier for the people who are in need of loan and it should play a
part is helping them at the cheapest rate.

Although steps taken by SunTrust focuses their existing product offers like
mobile banking and cash management evaluation, it also highlights their
overall marketing objectives. According to SunTrust’s regional president and
chief executive for greater Washington, Scott Wilfong, business bankers are
getting ready to help businessmen to expand their businesses in right way.
He also added that this is a holistic approach as well as a great way to
support and advice companies along with personal finances that will make
overall businesses healthier.

The SunTrust Bank is the sixth-largest SBA lender in Washington. The bank
is recognized for making 38 loans valued at $9.1 million for fiscal year
2010. It is the third largest bank in Washington with 180 branches as well as
$14.4 billion in deposits. It maintained a well reputation in banking
industry over the last several years.