The facts about RBC and small business
RBC Royal Bank is the marketplace leader in Canada with almost 600,000 small and medium-sized enterprise clients. RBC Centura serves over 50,000 small business clients in the United States.

In Canada, we have more than 1,300 account managers dedicated to small and medium-sized enterprises. In the U.S., about 600 bankers at RBC Centura serve small and medium-sized businesses, with nearly 500 dedicated to entrepreneurs.

But access to credit is only one concern of small business clients. Clients consistently tell us they want strategic advice and planning resources as well as loans, so we also strive to provide the best advice and expertise possible.

In 2004, our business account managers in the United States received training in financial analysis to communicate better with company owners, while 90 per cent of our business account managers in Canada participated in training to develop their expertise further.

Service puts people first
RBC’s “people first” approach to small business means we are committed to make it easier for our clients to do business with us. We adapt our products, processes and skills to keep pace with the needs of today’s entrepreneurs.

For instance, in 2004, RBC Royal Bank redesigned the credit application process so that we can provide a credit decision for most clients within 24 hours and we pre-approve up to $50,000 in financing without the need for a business plan.

For self-employed entrepreneurs, who represent 15 per cent of Canada’s labour force, we added mortgage options that accept fluctuating incomes. In the U.S., RBC Centura created banking packages that bundle most-used business services.

We listen to small business
RBC Royal Bank surveys about 6,000 small business clients each year to assess how well we meet their needs, and to help us keep abreast of the changing nature of small business. We also survey a cross-section of business owners who are not our clients, to identify trends and issues in the marketplace.

For example, clients told us they wanted a single point of contact. In response, we are doubling the number of employees who are dedicated to help small business owners with both their business and personal financial needs and will have 480 people devoted to this role by the end of 2005. In the U.S., RBC Centura noticed small business clients using personal accounts to manage business funds online, so we introduced a full range of online banking and cash management services for them.

Services for a diversity of needs
There aren’t one-size-fits-all solutions for small business clients. We serve a diversity of industries, and have dedicated specialists to meet the varied priorities of our clients. For instance:

• we have a team of bankers in Canada and the United States trained to serve knowledge-based industries in biotechnology, software and telecom, among other fields;
• we have nearly 50 specialists dedicated to the manufacturing sector in Canada;
• we tailor products and services for professionals, franchise owners and public sector organizations in Canada and the United States.

In 2004, RBC Royal Bank launched advertising that featured the successes of our small business clients. For example, Marianne Bertrand was able to grow her business into a 15,000-sq.-ft. manufacturing facility in Toronto, where she makes the “Muttluks” line of dog boots, inspired by her basset hounds.

Focus on women entrepreneurs
In both Canada and the U.S., women-owned businesses are a growing trend.

RBC Royal Bank identified this market as a priority a decade ago, and has helped women build their businesses by sharing information, advice and networks. Today, RBC is the market leader for women entrepreneurs in Canada with a 22 per cent market share. Our Women’s Champions Network is made up of more than 100 account managers, personal bankers and investment advisors across the country.

RBC is a founding member of the Global Banking Alliance for Women, dedicated to speeding the growth of women-owned businesses. In 2004, we sponsored Women Trading Globally, an international trade mission for women to link with potential business partners from around the world.

Agricultural partnership
RBC is Canada’s largest non-government private lender to agriculture and serves more farmers and farm families than any other financial institution in the country.

After 136 years in the business, our policy is to work with clients as partners, through bad times and good.

Our farm financing specialists tailor solutions for clients who run into challenges, such as those affected by the BSE and avian flu crises in 2004. RBC proactively contacted clients to explore ways to manage in these situations, such as deferring principal payments, restructuring debt or adding credit.

We also help farmers plan for the future. In 2004, we took agricultural economist Dr. David Kohl, of Virginia Tech, on tour to talk about farm expansion.

We encourage careers in agriculture through support of the Douglas McRorie Memorial Scholarship for agriculture students and, since 1963, the RBC Royal Bank 4-H Interprovincial Exchange.

Networks for new business
To help fuel the next wave of business growth, RBC supports practical ways for clients to expand and become more productive. In Canada, RBC joined an initiative to help manufacturing industries increase their competitiveness as a sponsor of the Manufacturing 20/20 cross-country consultation led by the Canadian Manufacturers & Exporters (CME).

Not-for-profit organizations
Considered one of the fastest growing sectors in Canada, not-for-profit organizations have needs similar to those of any enterprise. RBC is committed to helping them thrive – so they can focus on their real work of helping others.

More than 18,000 not-for-profit clients in Canada use the RBC Community Account, launched in 1999. This low-fee account is available to churches, schools, societies and lodges, charities and associations. Service fees are waived for the first three months for certain core banking transactions.

And we share our expertise as well. In 2004, for example, we held a series of breakfast seminars in Toronto for not-for-profit organizations, covering topics such as corporate governance, fraud protection, legal issues and funding.

For more information on RBC’s support for small business, visit rbcroyalbank.com or rbccentura.com