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North America's best bank for SMEs 2019: Bank of America Merrill Lynch

Awards for Excellence 2019

Bank of America Merrill Lynch is a longstanding winner of the award for North America’s best bank for small and mediumsized enterprises, and the last 12 months have seen it deservedly retain the crown.

The period has been characterized by a push into mobile for its treasury platforms that is arguably more useful at the SME level than for any other client segment. At the same time, it continues to attract devotion from clients – both long-standing and newly acquired.

John Wiborg founded Stellar Industrial Supply in 1988. He has branches in six states and does business in many more. It is a business that is working-capital intensive.

JP Jolly, BofA_160x186
JP Jolly 

It also occasionally likes to buy others in the sector, and so needs what Wiborg calls a “capital partner” for acquisitions larger than what the firm can fund by itself.

“We were with a regional bank before and they did a nice job, but they had nowhere near the full set of products that we needed,” Wiborg tells Euromoney.