Bank's Diverse Business Banking Segment to
accelerate support of minority-owned businesses
PITTSBURGH, April 6,
2022 /PRNewswire/ -- PNC Bank has launched a new
Minority Business Development Group, intended to deliver
products, solutions and resources focused on advancing the
financial wellness of emerging minority businesses.
Comprised of bankers and advocacy partners, the Minority
Business Development Group will help prepare minority-owned
businesses for effective growth, development and sustainability.
The group will invest in and leverage innovative technology and
financial solutions in order to empower, educate and accelerate
entrepreneurial success.
"By making this investment, we are further reinforcing our local
market commitment to small businesses, and ensuring we are doing
all that we can to help minority-owned businesses succeed and
grow," said Alex Overstrom, head of
Small Business at PNC. "PNC is dedicated to being an advocate and
champion in this space, so I'm excited to see the team bring this
commitment to life in communities across the country."
With 33 years of banking experience, Marshalynn Odneal, national sales executive for
Minority Business, will lead this national effort. She and her team
of bankers will work in close collaboration with PNC's dedicated
Minority Business Development Officers (MBDOs) and Community
Development Banking and Corporate Responsibility Groups, as well as
the bank's Regional Presidents across the country to establish and
deepen relationships with minority-owned business clients and
prospects. These teams will work together to enhance the
capacity-building of minority-owned businesses through strategic
alliances with external organizations that support business
development and offer technical support to foster business growth
opportunities.
"Small businesses are the fabric of our communities, and it's
our privilege to help and support them." said Odneal. "Through this
work, we hope to become a true partner to minority business owners
and arm them with the tools and support they need to be successful.
Our team will be a part of these communities, fulfilling our
mission of financial wellness for all by ensuring equitable access
to products and solutions that will help these businesses
thrive."
The efforts of PNC's Minority Business Development Group will
help support a portion of the bank's $88
billion Community Benefits Plan, which will provide
$26.5 billion in small business
loans, investments, and other financial support to bolster economic
opportunity for low- and moderate-income (LMI) individuals and
neighborhoods through 2025.
"PNC's Community Benefits Plan will have a direct impact on
the work we're able to do in these communities, including our
ability to leverage and expand upon alternative lending options
through external partners for Black and Brown business owners in
LMI communities," said Odneal.
To intentionally expand the focus on minority-owned businesses
and the unique challenges they face, the bank also is launching a
PNC Certified Minority Business Advocate (cMBA)
program, a voluntary advocacy training program available to
PNC employees interested in providing enhanced support for minority
business decision makers. The new certificate program focuses on
helping PNC employees understand the unique challenges facing
diverse businesses, ultimately supporting PNC's brand purpose of
leveraging the power of our resources to help all move forward
financially.
cMBAs will have the opportunity to serve as PNC ambassadors in
their communities, strengthening community engagement through
volunteerism, mentorship and technical support. cMBAs also will be
empowered to educate and guide these business owners toward
valuable community resources. More information about the Minority
Business Development Group and the tools and resources it offers
are available here.
PNC Small Business serves approximately one million clients
across PNC's coast-to-coast franchise, offering a comprehensive set
of advice and solutions designed to help small businesses grow and
thrive. The Small Business team includes all of the bank's sales
platforms focused on small business clients, including Business
Banking, Merchant Services and Treasury Management, as well as
dedicated product, digital and solution teams focused on solving
the unique challenges that small businesses face.
PNC Bank, National Association, is a member of The PNC Financial
Services Group, Inc. (NYSE: PNC). PNC is one of the largest
diversified financial services institutions in the United States, organized around its
customers and communities for strong relationships and local
delivery of retail and business banking including a full range of
lending products; specialized services for corporations and
government entities, including corporate banking, real estate
finance and asset-based lending; wealth management and asset
management. For information about PNC, visit www.pnc.com.
CONTACT:
Katie Kirby
(216) 222-8725
katie.kirby@pnc.com
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SOURCE PNC Financial Services Group, Inc.