New Associate Business Advisor role enhances client support, while "Community of Ambition" campaign promotes local businesses

TORONTO, Oct. 1, 2021 /CNW/ - This October, CIBC will turn the spotlight on local businesses across Canada for Small Business Month, with a campaign celebrating community and celebrity favourites. To further support businesses longer term, CIBC also announced today the addition of Associate Business Advisors, a new role at banking centres in most metropolitan markets.

The new campaign features a diverse array of CIBC business clients from across the country through online ads and free product offers. The campaign will also feature CIBC ambassadors, Ski Cross World Champion Marielle Thompson, and professional hockey players Mitch Marner and Connor McDavid, discussing the importance of local businesses in their lives.

"Our communities are coming back to life thanks to the creativity and ambition of local businesses," said David Leuty, Senior Vice President, Business Banking, CIBC. "We're here to help make these ambitions real, with dedicated advisors offering information, education, guidance and support to local business owners who are still making their way through the impacts of the pandemic, but are also hopeful for future growth."

The Vancouver Running Company, one of the local businesses featured in the campaign, is hopeful about their future. "CIBC has supported us with advice and planning support during a pivotal time of growth for our company, with the team genuinely curious and proactive in learning about our industry," said Rob Smith, General Manager/Owner, Vancouver Running Company. "We've been fortunate to have the right team from CIBC alongside us, and it certainly helps that they understand our need to be nimble and flexible, as all entrepreneurs and small business owners require."

Edmonton-based Flaunt Interiors, also featured in the campaign, is excited about opportunities for growth and expansion. "Opening a luxury design store was a dream I wouldn't have been able to bring to light had it not been for CIBC," said Seema Sahni, Owner and Principal Interior Designer, Flaunt Interiors. "My advisor and the bank played a key role when I started my  business, and continue to support me every step of the way as I plan for growth."

In a recent CIBC poll of Canadian small business owners, more than half (54 per cent) say they don't have a plan outlining future investments or major purchases, with a similar number (51 per cent) acknowledging that additional funding is vital to growing their business. To further support business owners navigating these challenges and opportunities, CIBC is introducing Associate Business Advisors, who will partner with early-stage entrepreneurs and business owners to help them grow and scale through tailored CIBC Business Banking solutions and expertise. Associate Business Advisors will manage a portfolio of high-potential businesses, along with the personal clients connected to these businesses, providing them with a single, dedicated point of contact to meet both their business and personal needs.

"Our Associate Business Advisors will provide enhanced support to clients who need it most," added Mr, Leuty. "With specialized advice for starting a new business, a commitment to supporting Black entrepreneurs, and banking bundles for professionals, we have a wide range of resources available to our business clients for every stage of their journey."

Additional updates for CIBC business clients:

• Launching as part of Small Business Month, businesses can earn 1 per cent, or up to $10,000 cash back on a new CIBC Business Loan, by speaking with their advisor;
• With Visa Direct, retail and business banking clients can send real-time money transfers directly to a Visa debit card within 30 minutes, and a Visa credit card in 24-48 hours in 80+ countries – for faster transfers and zero fees;
• Business clients can now send real-time digital payments with limits of up to $25,000 with Interac e-Transfer for Business;
• CIBC has partnered with the Fédération des gens d'affaires francophones de l'Ontario (FGA) to support the financial needs of its members and their employees. The FGA is a Francophone business network that advances the social and economic interests of small- and medium-sized companies, not-for-profits and entrepreneurs.

Research Poll Disclaimer:
From August 25th to August 30th 2021 an online survey of 1,043 Canadian Small Business Owners who are Maru Voice Canada panelists was executed by Maru/Blue. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of +/- 3%, 19 times out of 20. Discrepancies in or between totals are due to rounding.

About CIBC
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

SOURCE CIBC

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