Comerica Bank provides $100,000 grant for small businesses in Lansing area
2012 MAY 27 - (VerticalNews.com) -- 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."
Keywords: Economic Growth.
This article was prepared by VerticalNews Internet editors from staff and other reports. Copyright 2012, VerticalNews Internet via VerticalNews.com.