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Comerica Bank Swings Big to Support Small Business Growth with $250,000 Contribution to Community Organizations

News Provided by PR Newswire2025-05-05

Comerica Bank Swings Big to Support Small Business Growth with $250,000 Contribution to Community Organizations

[05-May-2025]

Small Business Community Incubators to receive $50,000 each for assisting entrepreneurs in five Comerica markets

DALLAS, May 5, 2025 /PRNewswire/ -- Comerica Bank is taking a big swing during National Small Business Week (May 4-10) to support small business incubation by contributing $250,000 to community organizations focused on entrepreneurial development, growth, education and empowerment.

The five nonprofit organizations, each receiving a $50,000 contribution from Comerica Bank, include: Impact Ventures (Dallas, Texas), Pacific Asian Consortium in Employment (Los Angeles, California), TechTown Detroit (Detroit, Michigan), Women's Business Enterprise Alliance (Houston, Texas), and Working Solutions CDFI (San Francisco, California).

Comerica's $250,000 contribution kicks off its week-long celebration of small businesses featuring customer and community-focused activities.

"Delivering on our commitment to small businesses in the communities we serve remains vital to strengthening families, supporting neighborhoods and bolstering local economies," said Omar Salah, Comerica Bank Executive Vice President, Small Business Banking Director. "Our community organizations have become valuable and necessary resources for entrepreneurs and small business owners, as they understand the needs of those they assist daily and the barriers that must be overcome to help them open doors to paths of prosperity. National Small Business Week reminds us of the year-round impact and value of our customers, community organizations, and entrepreneurs at-large who passionately believe in a better future through small businesses."

Additionally, each nonprofit organization will be honored as special guests during a check presentation at Comerica baseball-themed small business events in Detroit, Dallas, Houston, Los Angeles and San Francisco.

According to the U.S. Small Business Administration Office of Advocacy, there are 34.8 million small businesses in the U.S. as of 2024, a 4.5% increase from the previous year. Small businesses continue to serve as the growth engine of our economy as they employ about 59 million employees.

Since 2022, Comerica Bank has proactively strengthened and expanded its commitment and support for small businesses to enhance small business growth across its markets. This includes establishing dedicated small business banking teams within each market with the agility and expertise to meet the needs of its small businesses and entrepreneurs.

Along the way, Comerica Bank has also launched several innovative initiatives and services to elevate customer experiences and positively impact the community.

"When engaging our communities and small business customers, we strive relentlessly to offer them innovative, value-added experiences that go well beyond traditional banking services," said Jim Weber, Comerica Bank Executive Vice President and Chief Experience Officer. "By sharing the kinds of resources and tools typically reserved for larger commercial customers, we are redefining the idea of partnership with small businesses and the communities they serve."

Following are examples of some innovative services and offerings provided by Comerica to its small business customers:

In 2023, Comerica launched its award-winning Comerica BusinessHQ™ in the southern sector of Dallas, providing collaborative space to high-need, high-opportunity small businesses, as well as the necessary tools to develop, grow and endure.
In North Texas, Comerica also provides complimentary office space exclusively to all its small business customers via Comerica CoWorkSpaces®, equipped with features like Wi-Fi, AV presentation equipment, reservable meeting rooms, and hospitality stations, among other amenities.
Throughout all its markets, Comerica SmallBizCo-op® delivers access to SizeUp by Comerica, providing access to free market and competitive analytics, while also offering office supply discounts, perks and rewards.
Additionally, in select markets, the program provides the creation and airing of radio ads to promote small business customers, as well as tickets to professional sporting events for small businesses to entertain clients.
- In Michigan, free radio advertising for small business customers air on Detroit Tigers radio broadcasts.
- The Detroit Pistons Shop313 PopUp Shops have showcased business-to-customer and business-to-business promotional opportunities.
- Comerica also spotlight small businesses through its partnerships with the Texas Rangers, Dallas Stars and Los Angeles Lakers.

Comerica is continuing to expand these SmallBizCo-op benefits and CoWorkSpaces into other markets.

During National Small Business Week, Comerica is hosting Business $ense bootcamps in Detroit with the Boys & Girls Club of Southeastern Michigan and Black United Fund. Comerica volunteers will also be assisting the National Network for Teaching Entrepreneurship in Texas and California, the Harmony CBC Economic Empowerment Series in Dallas, and Academia de Accessity Business Pitch in California. Several special activities for small businesses are planned for Comerica BusinessHQ throughout the week.

In February, the Crisil Coalition Greenwich Awards recognized Comerica Bank with the following BEST BANK honors: Values long-term relationships for Small Business Banking in the U.S.; Advisory capabilities of Relationship Manager for Small Business Banking in the U.S.; Satisfaction with Relationship Manager for Small Business Banking in the U.S.; and Trust for Small Business Banking in the U.S.

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, one of the 25 largest commercial U.S. financial holding companies, focuses on building relationships and helping people and businesses be successful. Comerica provides banking centers across the country with locations in Arizona, California, Florida, Michigan and Texas. Founded on Aug. 17, 1849, in Detroit, Michigan, Comerica continues to expand into new regions, including its Southeast Market, based in North Carolina, and Mountain West Market in Colorado. Comerica has offices in 15 states and services 13 of the 15 largest U.S. metropolitan areas, as well as Canada and Mexico. Comerica reported total assets of $77.6 billion at March 31, 2025. Learn more about how Comerica is raising expectations of what a bank can be by visiting www.comerica.com, and follow us on Facebook, X, Instagram and LinkedIn.

Impact Ventures (Dallas, Texas)
Impact Ventures (IV) is a 501(c)(3) organization on a mission to empower under-resourced entrepreneurs to create generational wealth through ecosystem building, inclusive entrepreneurship, and integrated capital. Since its founding in 2017, IV has engaged nearly 3,500 individuals through networking events, hackathons, business development programs, and community summits.

Its flagship accelerator programs have supported nearly 255 entrepreneurs who have collectively raised over $25 million and created more than 485 jobs across North Texas and beyond. In collaboration with a network of 260+ mentors and numerous corporate and community partners, IV recently launched IV Capital—Texas's first integrated capital fund—offering flexible debt and patient equity to help scale diverse enterprises.

Pacific Asian Consortium in Employment (Los Angeles, California)
For 50 years, Pacific Asian Consortium in Employment (PACE) has driven economic opportunity in Los Angeles' underserved communities. Since its founding in 1975, PACE has helped over 1.4 million individuals and families achieve economic mobility and a better life for themselves and their community. Guided by a comprehensive approach to community development, PACE's five core programs (Business, Education, Employment, Energy, and Housing) help address the diverse needs of those served and create empowered and economically resilient communities.

PACE has been dedicated to creating innovative economic solutions to meet the community's evolving needs. While PACE was originally founded to support the employment needs of AAPI refugees, programs have expanded and adapted in response to the changing political, social, and economic landscape of Los Angeles.

TechTown Detroit (Detroit, Michigan)
TechTown Detroit, Wayne State University's entrepreneurship hub, is a nonprofit business service organization that provides programs, education and resources for early- to growth-stage small businesses and tech entrepreneurs. By building bridges for entrepreneurs to succeed, TechTown is accelerating an inclusive economy for Detroit and Southeast Michigan. Since 2007, TechTown has supported more than 6,090 companies, which created 2,277 jobs and raised more than $406 million in startup and growth capital.

Hatch Detroit supports both existing and new retail initiatives in the cities of Detroit, Hamtramck and Highland Park. Founded in 2011, Hatch Detroit gives residents and aspiring entrepreneurs an opportunity to have a voice in neighborhood retail development and joined TechTown Detroit's suite of entrepreneurial programs and services in 2022. With support from Hatch Detroit, 50 alumni have opened businesses. They employ over 500 people and have invested over $10 million in economic development.

Women's Business Enterprise Alliance (Houston, Texas)
Established in 1995, the Women's Business Enterprise Alliance (WBEA), a nationally recognized purchasing council, increases opportunities and growth for women business enterprises. Headquartered in Houston, WBEA serves a 94-county Texas region with programs, activities, and educational opportunities, in addition to providing qualified suppliers to corporate and government purchasers.

Staying ahead in today's fast-paced market requires technical know-how and business savvy, and WBEA helps its members meet these challenges with proven tools, techniques and solid solutions. Since its inception, the organization has doubled its membership, established scholarship and mentoring programs, and has become one of the nation's leading certifiers of women-owned businesses.

Working Solutions CDFI (San Francisco, California)
Working Solutions' motto is the First to Believe in Small Business. As a nonprofit Community Development Financial Institution (CDFI), Working Solutions increases economic opportunity in California by providing small-dollar loans and grants and free consulting support to start-up and early-stage businesses, with a focus on systemically underfinanced communities, particularly low-income individuals, women, and BIPOC entrepreneurs. To date, Working Solutions has deployed $60 million in capital and provided over 50,000 free consulting hours to more than 3,000 small businesses across California.