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Comerica Bank Swings Big to Support Small Business Growth with $250,000 Contribution to Community Organizations
CMAComerica(CMA) Prnewswire·2025-05-05 18:15

Core Points - Comerica Bank is contributing 250,000tosupportsmallbusinessincubationduringNationalSmallBusinessWeek,witheachofthefiveselectednonprofitorganizationsreceiving250,000 to support small business incubation during National Small Business Week, with each of the five selected nonprofit organizations receiving 50,000 [1][3][4] - The five nonprofit organizations include Impact Ventures, Pacific Asian Consortium in Employment, TechTown Detroit, Women's Business Enterprise Alliance, and Working Solutions CDFI, all focused on entrepreneurial development [3][4] - Comerica Bank has established dedicated small business banking teams and launched innovative initiatives to enhance small business growth and customer experiences since 2022 [6][7] Summary by Category Financial Contribution - Comerica Bank is donating a total of 250,000tofivenonprofitorganizations,eachreceiving250,000 to five nonprofit organizations, each receiving 50,000, to assist entrepreneurs in various markets [1][3] - The contribution is part of a week-long celebration of small businesses, highlighting the importance of community support [3][4] Nonprofit Organizations - Impact Ventures has engaged nearly 3,500 individuals and supported 255 entrepreneurs who raised over 25million[12][13]−PacificAsianConsortiuminEmploymenthashelpedover1.4millionindividualsachieveeconomicmobilitysinceitsfounding[14][15]−TechTownDetroithassupportedover6,090companies,creating2,277jobsandraisingmorethan25 million [12][13] - Pacific Asian Consortium in Employment has helped over 1.4 million individuals achieve economic mobility since its founding [14][15] - TechTown Detroit has supported over 6,090 companies, creating 2,277 jobs and raising more than 406 million in capital [17] - Women's Business Enterprise Alliance has doubled its membership and established scholarship and mentoring programs since 1995 [19][20] - Working Solutions has deployed 60millionincapitalandprovidedover50,000consultinghourstomorethan3,000smallbusinesses[21]CommunityEngagementandInitiatives−ComericaBankishostingBusiness60 million in capital and provided over 50,000 consulting hours to more than 3,000 small businesses [21] Community Engagement and Initiatives - Comerica Bank is hosting Business ense bootcamps and various activities for small businesses during National Small Business Week [9] - The bank has launched services like Comerica BusinessHQ™ and Comerica CoWorkSpaces® to provide resources and collaborative spaces for small businesses [7][8] - Comerica is recognized for its long-term relationships and advisory capabilities in small business banking [10]