Comerica Bank Announces $200,000 Grant to Oakland Business Development
Corporation for Loans to Small Businesses
Celebration of Oakland Businesses at New Comerica Banking Center Features
Mayor Ron Dellums, Rep. Barbara Lee, and Chinese Lion Dance Troupe
OAKLAND, Calif., Oct. 29 /PRNewswire-FirstCall/ -- Comerica Bank announced
a $200,000 grant to the Oakland Business Development Corporation for loans for
small businesses.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010807/CMALOGO)
The announcement was made Oct. 28 by Mike Fulton, president and CEO of
Comerica Bank's Western Market at the bank's new Oakland banking center, which
opened in August at 12th Street and Broadway in downtown Oakland.
"It's all about forging community partnerships," Fulton told business and
community leaders, bank executives and small business owners who had gathered
at the new Comerica Bank banking center in downtown Oakland.
The presentation of the grant to Jacob Singer, CEO of the Oakland Business
Development Corporation, occurred at an evening celebration of Oakland
businesses attended by Oakland Mayor Ron Dellums, Congresswoman Barbara Lee
(D-Oakland), and community leaders.
"We are deeply appreciative of Comerica's grant," Singer said. "We have a
long tradition of doing micro loans in the City of Oakland."
The guests at the Comerica banking center, located in an historic corner
bank building near Oakland's Chinatown, were treated to a rousing welcome from
a Chinese Lion Dance troupe. The Oakland site is Comerica's second banking
center in Alameda County. Two more banking centers, in San Leandro and
Fremont, are scheduled to open later this year. An Alameda office opened in
December 2007.
"Pause to consider that we have this extraordinary opportunity presented
by the opening of this bank, at the same time as the global and national
economy is teetering on the brink," said Dellums. "In the midst of this
crisis, Comerica says, 'we will go to Oakland.' Comerica believes in the
integrity of this community."
Lee praised Comerica Bank as "a bank that has values and integrity, that
cares about this community."
About the Oakland Business Development Corporation (OBDC)
OBDC Small Business Finance (OBDC) is a non-profit business lender
committed to building strong communities by providing loans and referral
services to new and emerging businesses located in the low-income areas of
Oakland and the greater East Bay. Since 1979, OBDC has made millions of
dollars in loans to small business owners that were not able to obtain capital
through traditional means. OBDC targets businesses that are seeking to provide
goods, services and jobs that are needed by the local community. It is located
at 519 17th Street, Suite 700, Oakland, Calif. For more information, go to
http://www.obdc.com.
About Comerica Bank
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), a
Dallas-based company strategically aligned into three major business segments:
the Business Bank, the Retail Bank, and Wealth & Institutional Management.
Comerica focuses on relationships and helping businesses and people be
successful. In addition to Arizona and California, Comerica Bank locations can
be found in Florida, Michigan and Texas, with select businesses operating in
several other states, Canada, China and Mexico. To receive e-mail alerts of
breaking Comerica news, go to http://www.comerica.com/newsalerts. For more
information, go to http://www.comerica.com.
SOURCE Comerica Bank
Jacob Singer of OBDC, +1-510-763-4297, Jacob@obdc.com; or Barry Holtzclaw of
Comerica Bank, +1-408-556-5111, or cell, +1-831-246-0648,
bholtzclaw@comerica.com
