Business & Tech
Byline Bank Receives BBB Torch Award for Ethics
Chicago Better Business Bureau Recognizes Byline Bank for Business Integrity and Community Support
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CHICAGO (November 16, 2023) – As a community leader dedicated to helping small businesses thrive, Byline Bank is proud to announce that the company has been recognized at the 27th annual Better Business Bureau Torch Awards for Ethics in Chicago celebration luncheon on November 16.
The Torch Awards for Ethics honors local organizations for their ethical business practices and tenets of trust based on conducting business with honesty and integrity with four key criteria: character, culture, customers, and community.
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“Helping our communities and small businesses thrive is ingrained in our culture, and we are thrilled to receive recognition from the Chicago Better Business Bureau for our continued efforts,” said Stephen Ball, Senior Vice President and Head of Business Banking at Byline Bank. “Earning the seal of approval from a trusted organization dedicated to advancing marketplace trust is a tremendous honor that we will continue to uphold as we help serve our customers and local communities.”
As the #1 SBA 7(a) Lender in Illinois, Byline has consistently been recognized for putting community first by investing in local small businesses to help them achieve their dreams and create vibrant places to live and work. Among the achievements that helped earn this prestigious award are the company’s $60.4 million in community development investments, more than $70 million in community development loans, and, as of December 2022, over $680,000 in community grants, donations and sponsorships.
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Byline’s Business Banking group, the team that serves businesses seeking financing options from $10,000 to $3 million, has provided 548 loans amounting to almost $110 million over the last two years. An important part of helping local businesses access the capital they need when they need it most has been Byline’s Express Loans platform, which provides expedited financing for loans between $10,000 and $500,000. As a part of the total loans provided over the last two years, Byline’s Business Banking team provided 480 Byline Express Loans amounting to roughly $33 million.
Byline’s support of the community goes beyond access to capital. Byline provided 157 financial literacy sessions in 2022, along with mentorship and resources for low- to moderate-income communities to understand their rights as bank customers. The company also partners with Junior Achievement Chicago to offer inclusive financial literacy programs that serve tens of thousands of students in Chicago and its surrounding counties to help start small businesses, earn a college degree, and feel confident managing money as an adult. Byline is also an active sponsor of the Coleman Entrepreneurship Center’s Social Impact Incubator Program at DePaul University, which aims to foster diversity, equity and inclusion (DEI) and positive social impact through ongoing training and mentoring opportunities.
As business banking customers continue their journey into small business ownership, Byline helps keep their money safe through anti-fraud educational resources, financial literacy efforts, and dedicated customer service to answer concerns and solve problems. Additionally, Byline works with the Small Business Advocacy Council to ensure those small business owners have a voice in the Springfield community.
All of this is made possible by Byline’s talented and diverse workforce, which is passionate about making a difference in its communities. Byline’s Corporate Governance Committee and Corporate Code of Ethics are backed by a robust DEI program; annual Environmental, Social and Governance Report; and partnerships with over 60 nonprofits in Chicago and beyond. Byline was also honored this year by Forbes as one of America’s Best Small Employers for creating an inspiring and inclusive workplace culture that attracts and retains talented people.
Employees have given over 1,700 Community Reinvestment Act volunteer hours to work directly with organizations, take on vital Board positions or leadership roles, and are offered paid time off to help fulfill these volunteer commitments.
Sustainability is more than a buzzword at Byline. The company has also offset 100 percent of its branch energy consumption and built a 3,600 square-foot eco-friendly branch in the Village of Skokie. Over 11.8 million kWh of wind-generated Renewable Energy Certificates (RECs) have been retired and more than 8,000 metric tons of carbon dioxide greenhouse gas emissions have been eliminated.
About Byline Bancorp, Inc.
Headquartered in Chicago, Byline Bancorp, Inc. (NYSE: BY) is the parent company of Byline Bank, a full-service commercial bank serving small-and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $8.9 billion in assets and operates 48 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top Small Business Administration lenders in the United States. Byline Bank is a member of FDIC and an Equal Housing Lender. For more information, visit www.bylinebank.com. ©2023 Byline Bank. All rights
reserved.