Comerica Bank today announced its $1 million commitment over four years to the National Business League as part of a national partnership that will launch the Black Capital Access Program (BCAP), an access to capital initiative to assist Black businesses across the country.
As a nonprofit, non-partisan and non-sectarian trade organization, the National Business League collaborates with policy makers and CEOs to advance Black communities’ economic interest supported by research, data and evidence, while at the same time holding the public and private accountable.
“Capital access remains the most important factor limiting the establishment, expansion and growth of Black-owned businesses,” said Ken L. Harris, Ph.D., President/CEO National Business League, Inc. “As part of the organization’s mission to eliminate institutional, structural and systemic barriers to capital, it is important to develop public and private partnerships to address the financial burden on Black entrepreneurs who are trying to keep their businesses thriving in today’s economy, in response to the COVID-19 pandemic.
“Our mission with the launch of the Black Capital Access Program presented by Comerica Bank is to assist Black-owned businesses with their capital needs and resources, and we are thankful to Comerica for its extensive support and national partnership.”
“We believe strongly that investing financially as well as connecting our team members to offer a wide range of technical resources will enable the NBL’s Black Capital Access Program to effectively reach and serve businesses in need,” said Irvin Ashford, Jr., Chief Community Officer, Comerica Bank.