During National Small Business Week this week, Dallas-based Comerica Bank is supporting small business incubation by contributing $250,000 to community organizations focused on entrepreneurial development, growth, education and empowerment—including one in Dallas.

The company said the five nonprofit organizations, each receiving a $50,000 contribution from Comerica Bank, include Dallas-based Impact Ventures; Pacific Asian Consortium in Employment in Los Angeles; TechTown Detroit in Michigan; Women’s Business Enterprise Alliance in Houston; and Working Solutions CDFI in San Francisco.

“Delivering on our commitment to small businesses in the communities we serve remains vital to strengthening families, supporting neighborhoods and bolstering local economies,” Omar Salah, Comerica Bank EVP and Small Business Banking director, said in a statement. “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.”

Each nonprofit organization is being honored as special guests during a check presentation at baseball-themed Swinging Big for Small Business Week events in Arlington, Detroit, Houston, Los Angeles, and San Francisco.

As you can see below, the Dallas-area event was held at Arlington’s Globe Life Field Tuesday, with Impact Ventures representatives on hand to collect their oversized check. Comerica Bank is the official banking partner of the Texas Rangers, making the setting something of a hit for all involved.

L to R: Brent Harraman, Comerica Bank Regional Director of Small Business Banking; Eric Brooks, Comerica Bank Group Manager, Small Business Banking; Tiffanie Rice, Comerica Bank Regional External Affairs Manager; Benjamin J. Vann, Impact Ventures Founder CEO; Roy Lopez, Impact Ventures Board Chair; Matt Marchbanks, Comerica Bank Fort Worth Market President; and David Milton, Comerica Bank Dallas Market President. [Photo: Comerica]

Impact Ventures’ mission

Impact Ventures has a mission to empower under-resourced entrepreneurs to create generational wealth via ecosystem building, inclusive entrepreneurship, and integrated capital. Since its founding in 2017, Impact Ventures has engaged nearly 3,500 people 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, Comerica said. In collaboration with a network of 260-plus mentors and numerous corporate and community partners, Impact Ventures recently launched IV Capital—Texas’ first integrated capital fund—offering flexible debt and patient equity to help scale diverse enterprises.

34.8M small businesses in the U.S.

Comerica said that 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 said it has proactively strengthened and expanded its commitment and support for small businesses to enhance small business growth across its markets. That 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, the bank said.

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,” Jim Weber, Comerica Bank EVP and chief experience officer, said in a statement. “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 BusinessHQTM 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 of 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.

Comerica said it also spotlights small businesses via 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, the bank said.

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