Bank of America 2006 Annual Report Download - page 22

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Building Opportunities for Entrepreneurs
Winning
Over Small
Businesses
Like most small business owners, Linda Dorn-Carter and LaToya Creighton
knew that every minute buried in paperwork was time lost with customers —
and that could kill a dream. So the Torrance, Calif., entrepreneurs were
quick to see the value when Bank of America introduced Business 24/7TM,
a suite of easy online tools.
“With free Online Banking service with BillPayTM, I don’t touch the same
piece of paper two, three or four times,” said Dorn-Carter. “You can’t believe
how much time that saves us.” Online Invoicing is a similar time-saver.
Dorn-Carter and Creighton own The Business Coach, a five-employee
firm that nurtures the growth of other fledgling companies.
Easy Online PayrollTM was another welcome solution for them. “Payroll
can be daunting,” said Creighton. “With Bank of America, we don’t have the
extra fees, and the bank makes it really easy to do.” There was an added
bonus: The Business Coach employees who chose direct deposit got free
MyAccess Checking® with Bank of America.
Business 24/7 also provided them with easy access to credit through
Business Credit ExpressTM, a new service that enabled Bank of America
to double the number of loans and lines of credit to small business
owners in 2006.
In addition, Dorn-Carter and Creighton benefited from a professional
relationship with Bank of America Small Business Specialist LaJonda
Harris, who is a regular visitor to their offices. Harris feels accountable for
being as knowledgeable about key facets of the business as the owners are.
“Smaller companies don’t have the infrastructure that large firms do,” she
said. “It’s my job to help them think about what it’s going to take to get where
they need to be in, say, five years.”
Dorn-Carter recalled a conversation with Harris about tactics The
Business Coach was considering. “It helped us in the long run by her being
blunt because we were spinning our wheels. If she hadn’t stepped in, we’d
still be headed down the same road,” said Dorn-Carter.
BUSINESS 24/7™ OFFERS ENTREPRENEURS THE
TOOLS AND ATTENTION THEY NEED TO THRIVE.
20 Bank of America 2006