Comerica Bank said Monday that it will commit $5 billion to small business lending over the next three years.
In addition, Comerica will expand RISE!, a program designed to support small businesses with a multitude of resources, as well as financial assistance through community nonprofits, and provide specific opportunities for minority- and women-owned small businesses.
Last year, Comerica processed nearly 20,000 loans totaling $3.9 billion in funding for the first round of Paycheck Protection Program. And so far in 2021, Comerica has further assisted small businesses by funding nearly $1 billion in the second round.
For comments and feedback: editorial@rttnews.com