CBA Celebrates America’s Small Businesses and The Banks Supporting Them
Following Small Business Saturday, the Consumer Bankers Association (CBA) is celebrating America’s small businesses and the bankers helping them to thrive amidst ongoing economic uncertainty. Representing the nation’s leading retail banks, CBA members provide more than half of all small business loans in the country. Today and continuing throughout this holiday season, CBA is releasing new testimonials from small business owners as part of the second annual Small Business Spotlight campaign.
2022 Small Business Spotlight from Consumer Bankers Association on Vimeo.
In a statement commenting on the significance of the campaign, CBA President & CEO Lindsey Johnson said:
“For more than a century, our members have worked tirelessly to finance the American dream for families and small businesses across every community they serve. This commitment was especially evident during the worst of the COVID-19 pandemic and continues today. Through this campaign, we are proud to recognize the important role small businesses play as the backbone of our economy as well as the hardworking bankers who are helping to drive economic growth and opportunity on Main Streets across this country.”
Small Business Success Stories
A Gift for Employees and Customers
When the pandemic hit and events were put on hold, Gilson’s Engraving & Elegant Gifts felt the impact quickly. With help from 1st Financial Bank, Susan was able to get the relief she and her employees needed.
A Trusted Resource In Times Of Need
“Anything from loans for capital equipment to something to do with online banking – [M&T] directs us in the right direction. We never feel like we don't know where to go or there's all these things that we don't know how to how to access."
Serving Children & Families
Murriel Webb shares her journey to securing the PPP loan that helped her daycare remain open and financially viable for the children and families they serve thanks to Comerica
To learn more about the campaign and to view additional small business success stories, visit www.SmallBusinessSpotlight.com
CBA's Small Business Advocacy
CBA’s Small Business Banking Committee is focused on education, legislation, and benchmarking for small business banking. The group is dedicated to taking a leadership role in providing CBA members with networking opportunities and an appropriate open forum for discussing best practices and emerging trends.
During the height of the pandemic, the committee worked with our members and policymakers to help administer the Paycheck Protection Program (PPP).
In partnership with the Small Business Administration (SBA), America’s leading banks administered more than 4 million loans worth more than $400 billion – over half the total dollar amount lent through the program. Banks also helped small businesses navigate ever-changing guidance and rule changes, ultimately helping to protect 90 million jobs. Since that time, CBA also helped to streamline the forgiveness process for PPP recipients, amounting to $7 billion of additional small business relief.
Click HERE to learn more about CBA’s ongoing advocacy efforts to support America’s small businesses.
