GRAND RAPIDS, Mich.,
Sept. 16, 2020 /PRNewswire/ --
Comerica Bank today announced a $112,000 contribution to Grand Rapids
Opportunities for Women (GROW) to aid west Michigan entrepreneurs and small businesses.
Comerica and GROW also will continue to provide Comerica Business
$ense Boot Camps with the next camp scheduled on Sept. 22.
Comerica's investment in GROW supports the organization's
ongoing effort to provide critical capital and financial resources
and technical assistance to small businesses as they recover and
reopen amid the COVID-19 pandemic.
"In helping GROW stabilize and develop entrepreneurial viability
and growth, we understand that small businesses need both financial
and technical resources to serve their customers and communities,"
said Debra Van Hevele, Comerica Bank senior vice president, retail
regional director. "Small businesses impact families and
neighborhoods through their services and job opportunities, and our
partnership pools valuable resources to support the recovery of
businesses affected by the COVID-19 pandemic."
Comerica's contribution adds to the bank's ongoing support with
GROW over recent months. Since June, Comerica has partnered with
GROW to provide technical services to small business owners through
Business $ense Boot Camp events.
"We appreciate Comerica Bank's partnership and contribution so
we can help small businesses overcome the unforeseen challenges
COVID-19 has presented," said Bonnie
Nawara, GROW CEO. "With these funds, we will be able to
continue to provide lending opportunities to entrepreneurs in
West Michigan, and the next
Business $ense Boot Camps will help small businesses connect to
tools and information that will help them reach their goals."
Comerica kicked off its partnership with GROW more than two
decades ago with the goal of supporting small businesses. In June,
Comerica and GROW launched a virtual business boot camp series,
focused on credit history.
Thus far, Comerica Bank External Affairs Leader Mike DeMartelaere and Vice President Business
Banking Marci Chapin have led Comerica's Business $ense Bootcamps
with GROW focused on numerous topics vitally important for small
businesses and entrepreneurs.
To reach more business owners and entrepreneurs, DeMartelaere
and Chapin will again partner with
GROW on September 22 to present
Comerica Business $ense Boot Camp, the fourth session of the
series. The upcoming session will focus on credit history -
cleaning up a credit report, preparing for access to capital and
understanding how credit history effects business operations. For
more information and to register:
https://www.eventbrite.com/e/business-ense-boot-camp-with-comerica-bank-part-i-tickets-118313130759?aff=ebdssbonlinesearch
Alongside Rosie Orchanian, GROW
program and volunteer coordinator, DeMartelaere and Chapin have presented a variety of topics to
help small businesses, including the following Comerica Business
$ense Boot Camps held thus far:
- Session 1 (June 20): Credit
History. Cleaning up a credit report, preparing for
access to capital and understanding how credit history effects
business operations.
- Session 2 (July 28):
Understanding Your Financials. Reading, reviewing
and preparing financial and business statements, along with
budgeting and bookkeeping.
- Session 3 (August 25):
Navigating Small Business Financing. Understanding
business and start-up financing, applying for microloans and
recovery loan programs, implementing financial management and
developing lender relationships. Also featured Karen Benson, GROW Business Development
Officer-West Michigan Lakeshore.
GROW is one of only 110 certified Women's Business Centers in
the nation, and one of three in the State
of Michigan, all in partnership with the U.S. Small Business
Administration. GROW assists current and aspiring business owners
at various stages of business ownership, and offers professional
services via business assessments, planning sessions, trainings and
education. Additionally, GROW provides business loans and lending
options, designed to help entrepreneurs start or grow their small
businesses, especially when traditional financing is not available.
This spring, the organization designed a low-interest COVID-19
Working Capital Loan and swiftly deployed a total $235,000 in loans to businesses who were facing
crisis as a direct result of the pandemic.
Comerica Bank and Comerica Charitable Foundation are investing a
total of $8 million in COVID-19
relief efforts for small businesses and community programming
impacted by the pandemic coupled with aid to small and micro
businesses and investments directed toward community service
organizations providing services to youth, seniors and other
vulnerable populations.
About Comerica Bank
Comerica Incorporated (NYSE: CMA) is a financial services
company headquartered in Dallas, Texas, and strategically
aligned by three business segments: The Commercial Bank, The Retail
Bank, and Wealth Management. Comerica focuses on relationships, and
helping people and businesses be successful. In addition
to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in
several other states, as well as in Canada and Mexico. Comerica reported total assets
of $84 billion at June 30, 2020.
About Grand Rapids Opportunities for Women
GROW is a service focused on under-served entrepreneurs at
various stages of business ownership. We are a unique resource that
helps individuals take the next step, empowering and supporting
them with professional expertise for a lifetime. As a 31-year-old
organization, GROW has worked to provide thousands of entrepreneurs
with skills and tools including access to capital through our
lending program, opportunities for networking, and collaborative
events with other community nonprofits. GROW offers classes,
workshops, and one on one counseling to our clients to help them
succeed. They provide technical assistance covers marketing, social
media, search engine optimization, strategic planning, branding,
financial analysis, and business insurance. GROW has offices in
Grand Rapids as well as
Muskegon area to serve a wide
variety of clients in the West
Michigan area.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/comerica-bank-contributes-112-000-to-grand-rapids-opportunities-for-women-to-support-west-michigan-entrepreneurs-and-small-businesses-301132115.html
SOURCE Comerica Bank