[ad_1]
Dallas, August 31, 2022 /PRNewswire/ — Community Development Financial Institution (CDFI) BCL of Texas He announced today that he will give loans 10,000 dollars–75,000 dollars Businesses that are not traditionally protected. Dallas Small Business Diversity Fund, a 1 million dollars Investment from Comerica Bank specifically targets Dallas County Women and minority-owned businesses that have worked for two or more years.
More 1 million dollars The investment from Comerica will be allocated to BCL’s Growth Fund for large commercial loans Texas Target market.
Comerica Bank representatives (left to right) Brandon Jones, Beatrice Kelly, Derek Hicks and Omar Salah presented BCL Texas President and CEO Rosa Rios Valdez (center) with an additional $50,000 grant for the Small Business Technical Assistance Program at today’s Dallas Small. Business Diversity Fund launch event.
“We know that many small businesses are often self-funded due to a lack of capital, and a key part of our mission is to create opportunities for emerging small businesses to expand their operations,” he said. Rosa Rios Valdez, BCL Texas President and CEO. “With this fund, we want to help level the playing field.”
General requirements for loan applications are as follows: Must be a minority, female or veteran business owner located in a rural, redevelopment or low- to moderate-income area. Additionally, the Dallas Small Business Diversity Fund includes a strategic coaching component with BCL Entrepreneurship Specialists. Before completing a loan application, prospective applicants are asked to complete a financial readiness assessment to ensure they have a solid and organized growth path. Approved borrowers receive no-cost business training throughout the life of the loan.
“At Comerica, we are committed to investing in CDFIs,” said Omar Salah, director of small business banking at Comerica Bank. Texas Because minority and women-owned businesses are playing a vital role in closing the capital gap.
In the year By 2021, Comerica has completed three years of operation; 5 billion dollars Small Business Lending Commitment to Support Communities Disproportionately Affected by the COVID-19 Pandemic. such as June 30, 2022Comerica has helped and funded more than 8,600 small businesses 2.4 billion dollars (49% of the target) loan commitment.
To schedule a Dallas Small Business Diversity Fund consultation, visit bcloftexas.org/DDF, or contact a BCL of Texas Loan Officer David R. Areola ([email protected]; (214) 688-7456 x126).
About BCL OF Texas
Business and Community Lenders (BCL) of Texas A statewide 501(c)3 nonprofit Community Development Financial Institution (CDFI) committed to building strong communities. BCL supports Texans with the financial tools and education necessary to build personal wealth to acquire wealth-building assets such as home ownership and entrepreneurship. With an emphasis on diversity, equity, and inclusion, we serve communities of color, women, veterans, rural communities, and low- and moderate-income individuals, families, and small business owners.
About Comerica
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas. Texas, and strategically aligned across three business units: Commercial Banking, Retail Banking and Wealth Management. Comerica focuses on relationships, and helping people and businesses succeed. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with businesses operating in select other states as well as Canada and Mexico. Comerica On June 30, 2022, it reported total assets of $86.9 billion.
Source Comerica Bank
[ad_2]
Source link
