“By making this investment, we are further strengthening our local market commitment to small businesses and ensuring that we are doing all 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 a champion in this space, so I’m thrilled to see the team bring that commitment to life in communities across the country.”
With 33 years of banking experience, Marshalyn Odneal, national sales manager for Minority Business, will lead this national effort. She and her team of bankers will work closely with Minority Business Development Officers (MBDOs) and PNC’s community development and corporate responsibility groups, as well as the bank’s regional presidents across the country to build and deepen relationships with minority-owned businesses. customers and prospects. These teams will work together to enhance capacity building for 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 is our privilege to help and support them.” Odneal said. “Through this work, we hope to become a true partner for minority business owners and give them the tools and support they need to succeed. Our team will be part of these communities, fulfilling our mission of financial well-being. for all by ensuring equitable access to the products and solutions that will help these businesses thrive.”
Efforts of PNC’s Minority Business Development Group will help support part of the bank’s business $88 billion Community Benefits Planwho will provide $26.5 billion in the form of small business loans, investments and other forms of financial support to strengthen economic opportunity for low- and middle-income (LMI) people and neighborhoods through 2025.
“PNC’s Community Benefits Plan will have a direct impact on the work we are able to do in these communities, including our ability to leverage and expand alternative lending options through external partners for black and brown business owners in LMI communities,” Odneal said. .
To intentionally broaden the focus on minority-owned businesses and the unique challenges they face, the bank is also launching a PNC Certified Minority Business Advocate (cMBA) program, a voluntary advocacy training program offered to PNC employees wishing to provide increased support to decision-makers in minority-owned businesses. The new certificate program aims to help PNC employees understand the unique challenges faced by various businesses, ultimately supporting PNC’s brand goal of leveraging the power of our resources to help all grow financially.
cMBAs will have the opportunity to serve as PNC ambassadors in their communities, building community engagement through volunteerism, mentorship and technical support. cMBAs will also be empowered to educate and guide these business owners to valuable community resources. More information about the Minority Business Development Group and the tools and resources it offers is available here.
PNC Small Business serves approximately one million customers across the PNC franchise coast to coast, providing 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 businesses, including corporate banking, merchant services and cash management, as well as dedicated product, digital and communications teams. solutions focused on solving the unique challenges small businesses face.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: ANC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and a local offering of personal and business banking services, including a full range of lending products; specialized services for businesses and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For more information about PNC, visit www.pnc.com.
SOURCEPNC Financial Services Group, Inc.