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Economic Impact

 

Small Business and Not-for-Profits

At the heart of RBC's commitment to businesses is our pledge to listen, understand and respond to the needs of our clients. In Canada, we continue to lead the market in the number of small business clients served. In the United States, we have made small business one of our key focus areas.

We aim to provide access to credit and put the client first. Our knowledge experts provide solutions for a diversity of needs.

Business Banking at RBC

Canada

  • RBC is a market leader, serving one in every four business clients in Canada.
  • We have over 750 RBC account managers dedicated to small business in Canada.
  • We are the market leader for women entrepreneurs in Canada, with 19 per cent market share.

United States

  • RBC Centura serves small business clients throughout the U.S. Southeast
  • We have about 420 bankers who serve small business, with 80 people dedicated solely to this segment.

Caribbean

  • RBC serves more than 1,000 small business customers in the Caribbean.

Access to credit and more

Financing is essential for many small businesses to start, operate or grow. RBC offers a host of credit solutions tailored to meet the needs of diverse businesses at various stages. In 2007, RBC made it easier for small businesses in Canada to
obtain and manage credit by:

  • Simplifying and streamlining the credit process with a simpler application process, automated adjudication and streamlined documentation
  • Introducing an online Visa application.

In the United States, RBC Centura demystified credit products for small businesses by simplifying and standardizing processes. We also enhanced our Business CreditLine by increasing its parameters to the US$100,000 level and we launched a Business Equity Line of Credit to meet customer financing needs where traditional commercial credit is not available.

But access to credit is only one concern of small business clients. We also strive to meet other needs by providing the best possible products, advice and expertise.

We support the not-for-profit sector by providing customized services and expertise, as well as funding for organizations such as the Canadian Society of Association Executives, dedicated to managing many of Canada's most progressive associations.


 

Related Links
  Business Resources


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