Title: Farmers National Bank Welcomes Tyler Barnhouse as Small Business Lender in Columbiana County
Introduction:
Farmers National Bank has welcomed Tyler Barnhouse as a small business lender based out of its Salem office in Columbiana County, Ohio. A native of Mahoning Valley, Barnhouse has returned to her roots in East Liverpool after graduating from Kent State in 2017 with a degree in business administration and working for seven years in the banking industry. With her extensive experience in both retail and commercial banking, she is ideally suited to address the specific needs of the community and be an asset to the Farmers National Bank team.
Section 1: Tyler Barnhouse’s Background and Experience
Tyler Barnhouse’s background and experience make her a valuable addition to the Farmers National Bank team. She graduated from Kent State in 2017 with a degree in business administration and has been working in the banking industry for seven years. Throughout her career, she has had experience in both the retail and commercial banking sectors, giving her knowledge of the different financial needs of small businesses. Her most recent work has been in Cleveland, where she has gained valuable experience and insights that she can bring with her to Columbiana County.
Section 2: The Importance of Community Banks
Farmers National Bank is a community bank, and it prides itself on having employees who are from the area. This local knowledge and expertise allow the bank to understand the specific needs of the community and tailor its services to meet those needs. With Barnhouse joining the team, the Farmers National Bank can continue to help small businesses in the region thrive. Community banks play a crucial role in supporting local economies, providing access to capital, and helping entrepreneurs start and grow their businesses.
Section 3: The Role of Small Business Lenders
Small business lenders play a vital role in providing loans and other financial products to entrepreneurs and small business owners. They must have a deep understanding of the specific financial needs of small businesses and be able to assess and mitigate the risks associated with lending. Small business lenders must also have excellent communication skills to build relationships with clients and provide valuable financial advice. With Barnhouse’s experience and expertise, she is ideally suited to serve as a small business lender, helping entrepreneurs start and grow their businesses.
Section 4: Farmers National Bank’s Commitment to Small Businesses
Farmers National Bank has a long history of supporting small businesses in the community. As a community bank, it is committed to providing access to capital, financial education, and support to entrepreneurs. It offers a wide range of financial products and services that cater to the specific needs of small businesses, including loans, lines of credit, and merchant services. Farmers National Bank’s commitment to small businesses is evidenced by its support of local economic development initiatives and partnerships with local organizations that promote small business growth.
Additional Piece:
Small businesses are vital to the American economy, and they play a critical role in driving economic growth, job creation, and innovation. According to the U.S. Small Business Administration, there are over 30 million small businesses in the United States, accounting for 99.9% of all businesses. These small businesses employ over 60 million people and generate over $6 trillion in annual revenue. However, despite their vital role in the economy, small businesses face significant challenges in accessing capital and navigating the complex web of regulations and bureaucracy.
Access to capital is a critical issue for small businesses, and it can be particularly challenging for minority-owned and women-owned businesses. According to a study by the Federal Reserve Bank of New York, minority-owned businesses are less likely to receive loans from banks than non-minority-owned businesses, and when they do receive loans, they often pay higher interest rates. Women-owned businesses face similar challenges, with studies showing that they receive far fewer loans than male-owned businesses despite being equally creditworthy. These issues of access to capital and discrimination highlight the importance of community banks like Farmers National Bank, which can help level the playing field for small businesses and provide access to capital and financial services to all entrepreneurs.
Community banks like Farmers National Bank offer several advantages to small businesses over big banks. They have a closer relationship with the community and a better understanding of the specific needs and challenges of small businesses. They also tend to be more flexible and responsive than big banks, which can be bureaucratic and slow-moving. Community banks offer a wide range of financial products and services tailored to small businesses’ specific needs, including loans, lines of credit, and cash management services. They also provide financial education and mentorship, which can be invaluable to entrepreneurs starting a new business.
In addition to access to capital, small businesses face several other challenges that community banks can help address. These include navigating the complex legal and regulatory environment, managing cash flow, and attracting and retaining employees. Community banks like Farmers National Bank can provide valuable advice, support, and resources to help small businesses overcome these challenges and thrive.
Summary:
Farmers National Bank has hired Tyler Barnhouse, a Mahoning Valley native, as a small business lender based out of its Salem office. With experience in both retail and commercial banking, Barnhouse brings a deep understanding of small businesses’ specific financial needs. As a community bank, Farmers National Bank is focused on helping small businesses thrive, offering a wide range of financial products and services tailored to this segment. Access to capital is a primary concern for small businesses, and community banks like Farmers National Bank can help level the playing field, providing valuable financial assistance and support. By offering a closer relationship with the community and practical advice and resources, community banks can help overcome barriers to success that many small businesses face.
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CANFIELD, Ohio – Farmers National Bank welcomes Mahoning Valley native Tyler Barnhouse back to Columbiana County as a small business lender based out of its Salem office.
Barnhouse graduated from Kent State in 2017 with a degree in business administration. She has 7 years of banking experience in both the retail and commercial sectors. Most recently, Barnhouse has been working in Cleveland. Now, she is going back to his roots.
“I have just returned to my hometown of East Liverpool,” says Barnhouse. “I am really looking forward to starting my new career here at Farmers!”
Andy Estock, director of commercial lending for Farmers National Bank, says Barnhouse will be an asset to the team.
“Farmers is a community bank. We love having employees who are from this area because they can address the specific needs of our region,” says Estock. “It’s a great fit for us, for Tyler, and for our customers.”
Copyright 2023 The Business Journal, Youngstown, Ohio.
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