PITTSBURGH, Pa. – PNC Bank has launched a new Minority Business Development Group to provide products, solutions and resources focused on improving the financial well-being of emerging minority-owned businesses.
Comprised of bankers and advocacy partners, the Minority Business Development Group will help prepare minority-owned businesses for effective growth, development and sustainability by leveraging innovative technologies and financial solutions, according to a press release.
“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, Marshalynn Odneal, National Sales Manager for Minority Business, will lead this national effort. She and her team of bankers will work closely with PNC’s Minority Business Development Officers and Community Development and Corporate Responsibility groups, as well as the bank’s Regional Presidents to build and deepen relationships. with minority 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, according to the release.
“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 to minority business owners and equip them with 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 by PNC’s Minority Business Development Group will help support part of the bank’s $88 billion Community Benefits Planwhich will provide $26.5 billion in small business loans, investments and other financial support to strengthen economic opportunity for low- and middle-income 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 develop 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 minority-owned businesses. decision makers. 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.
Pictured: Marshalynn Odneal leads PNC Bank’s Minority Business Development Group. (Source: PNC Bank)
Published by The Business Journal, Youngstown, Ohio.