Press release from PR Newswire
Comerica Bank provides $100,000 grant for small businesses in Lansing area
Wednesday, May 09, 2012
Bank Becomes First Company to Fund Entrepreneur Institute of Mid-Michigan Loan Program
DETROIT, May 9, 2012 /PRNewswire/ -- Debra Van Hevele, district manager for Comerica's banking centers in Lansing, Howell and Jackson, will present a $100,000 grant to the Entrepreneur Institute of Mid-Michigan (EIMM) in a ceremony at 9:30 a.m. today at Cravings Gourmet Popcorn & Soda Pop Market in Lansing. Proceeds of the grant will be used to provide micro loans ranging from $500 to $15,000 to small business owners in the Lansing area.
Comerica Bank is the first company to fund the EIMM micro loan program. Comerica's grant will help EIMM provide capital resources to small businesses that create, retain or improve jobs for low- or moderate- income individuals within EIMM's target investment area of the City of Lansing and Ingham and Eaton counties. Loan amounts will range from $500 to $15,000.
"Thanks to Comerica's grant, we'll be able to further the mission of our Institute and create more opportunities for Mid-Michigan entrepreneurs like Chad Jordan," noted Denise Peek, executive director of EIMM. "It's energetic small business owners like Chad who are helping to drive new business development in mid-Michigan and continue Michigan's economic growth." Jordan is the owner of Cravings and was one of the first borrowers of the Entrepreneur Institute's JumpStart Micro Loan Program.
"Comerica is proud to help Michigan continue its economic growth through our support of the Entrepreneur Institute of Mid-Michigan's loan program," noted Thomas D. Ogden, president, Comerica Bank-Michigan. "We applaud the Institute for creating a program that benefits microbusinesses while also supporting low- and moderate-income residents of the Lansing area through the creation of new jobs."
About Comerica BankComerica Bank, with 217 banking centers in Michigan, is a subsidiary of Comerica Incorporated. Comerica recently completed a $17 million renovation of its building at 411 W. Lafayette in Detroit, which has been renamed Comerica Bank Center and is now the bank's Michigan Market headquarters. Comerica Incorporated (NYSE: CMA) is a financial services company strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. To receive e-mail alerts of breaking Comerica news, go to http://www.comerica.com/newsalerts
About EIMMThe Entrepreneur Institute of Mid-Michigan, formerly known as The Lansing Community Micro-Enterprise Fund (LCMF), was founded in 1989 as a micro-enterprise assistance and loan fund program to entrepreneurs in Mid-Michigan. Its mission is to facilitate the development of new and growing micro-enterprise in low and moderate income areas of the city of Lansing.
SOURCE Comerica Bank
For further information: Kathleen Pitton of Comerica, +1-313-584-4523, email@example.com; or Sara Bloomberg of Franco, +1-313-567-5008, firstname.lastname@example.org