HOUSTON, Oct. 15, 2020 /PRNewswire/ -- BBVA
USA has unveiled its second
product geared towards environmental sustainability, announcing a
rate discount on secured term loans for fuel-efficient commercial
vehicles.
The loan provides a .75 percent rate discount for commercial
hybrid, electric, natural gas or fuel-cell vehicles. The
announcement comes on the heels of a BBVA USA commercial real estate product
launch that focuses on sustainability, a key pillar of the
bank's 5-year strategic plan.
"We're confidently moving forward on products that will both
support our small business clients' financial health and help them
contribute to securing an environmentally sustainable future," said
BBVA USA Small- to
Medium-Enterprises Network Executive Elizabeth Dobers. "These product launches are
significant steps in the right direction for our small businesses
and communities. I'm extremely proud of this tremendous start, and
look forward to continuing to move down this path beyond 2020."
Commercial clients are eligible for the secured term loan rate
discount when financing commercial vehicles through BBVA
USA from a licensed auto dealer.
Potential benefits also include competitive low fixed rates, and
terms up to five years.
In addition, commercial clients who select auto debit payments
with a BBVA Business Premium Checking account can receive an
additional .25 percent rate discount. Healthcare providers can
receive an additional .15 percent rate discount. Commercial clients
must apply by December 31, 2020.
"We want to make environmental sustainability, and the steps
toward that goal, convenient for our commercial clients and their
overall operations," said BBVA USA
Small Business Credit Products & Processes Manager Stan Demarest. "When we develop these products,
we take into account not only environmental sustainability, but how
we can make it easy for these businesses to save money in a time
where every dollar counts. On BBVA's side, we want these products
to continue to advance the bank's overall strategy and hit
measurable business and sustainability targets for our overall
bottom line."
In September, the bank launched a sustainability-focused
commercial real estate loan for clients across its footprint,
marking a milestone in the bank's new 5-year strategic plan
implemented in January 2020. The
loan allows small business owners to receive a discount of 1
percent, up to $10,000, of their loan
amount toward closing costs if they buy or build an
energy-efficient building, or renovate an existing building to
improve its energy efficiency.
The recent products reflect the bank's second of six pillars
that guide BBVA USA's strategic
plan, which is a focus on economic and environmental
sustainability. In February 2018,
BBVA announced its global strategy around climate change and
sustainable development, Pledge 2025, where the bank plans to
mobilize €100 billion in green finance, sustainable
infrastructures, social entrepreneurship and financial inclusion
through 2025.
In June, BBVA Group announced that it had secured €40 billion in
sustainable finance, reaching 40 percent of its sustainable finance
target for Pledge 2025 just two and a half years after its
launch.
*All loans are subject to approval, including credit
approval. ©2020 BBVA USA
Bancshares, Inc. BBVA and BBVA Compass are trade names of BBVA
USA, a member of the BBVA Group.
BBVA USA, Member FDIC.
For more BBVA news visit, www.bbva.com and the U.S.
Newsroom.
Additional news updates can be found via Twitter and
Instagram.
For more financial information about BBVA in the U.S., visit
bbvausa.investorroom.com.
About BBVA
BBVA Group
BBVA (NYSE: BBVA) is a customer-centric global financial services
group founded in 1857. The Group has a strong leadership position
in the Spanish market, is the largest financial institution in
Mexico, and has leading franchises
in South America and the Sunbelt
Region of the United States. It is
also the leading shareholder in Turkey's Garanti BBVA. BBVA's purpose is to
bring the age of opportunities to customers by providing the best
solutions and helping them make the best financial decisions
through an easy and convenient experience. The institution's
responsible banking model aspires to achieve a more inclusive and
sustainable society. BBVA rests on three solid values: customer
comes first, we think big and we are one team. Its responsible
banking model aspires to achieve a more inclusive and sustainable
society.
BBVA USA
In the U.S., BBVA is a Sunbelt-based financial institution that
operates 641 branches, including 330 in Texas, 89 in Alabama, 63 in Arizona, 61 in California, 44 in Florida, 37 in Colorado and 17 in New Mexico. The bank ranks among the top 25
largest U.S. commercial banks based on deposit market share and
ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (6th). In the U.S., BBVA has been
recognized as one of the leading small business lenders by the
Small Business Administration (SBA) and ranked 14th nationally in
terms of dollar volume of SBA loans originated in fiscal year
2019.
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SOURCE BBVA USA