Comerica Bank has launched Comerica Small Business Convenient Capital, its first fully digital lending platform for the bank’s small business customers.
Built in collaboration with Amount, a Chicago-based lender and credit solutions provider, the Comerica Small Business Convenient Capital platform was developed to serve small business customers throughout the country with loan needs up to $100,000.
The platform is focused on simplifying and accelerating access to capital and on providing faster approvals and funding, according to Comerica.
The new platform features:
- Instant decisions in most cases, or within 24 hours.
- Funding within 72 hours of approval.
- Streamlined in-person and self-serve digital applications.
- No tax returns required.
- Online customer acceptance.
- eSign digital loan closing.
“The Comerica Small Business Convenient Capital platform is the newest of many investments in small business products and services we have introduced this year,” says Omar Salah, director of small business banking at Comerica.
“By providing faster access to capital through our new online lending platform, we’re focused on delivering a frictionless, unmatched customer experience for our growing small business community. We aim to raise expectations of what a bank should be by empowering small businesses through enhanced digital capabilities.”
Adam Hughes, CEO of Amount, says: “Banks must evolve with customer demand, and we’re excited to partner with Comerica in helping to expand its digital capabilities to better meet the needs of its small business customers. We believe Comerica Small Business Convenient Capital will offer exactly what small businesses are looking for — a simplified process to receiving loan approvals, with swift decision-making and funding in less than three days.”
For more information about Comerica Small Business Convenient Capital, visit here.
The Comerica Small Business Convenient Capital platform launch follows SizeUp by Comerica, an online complimentary tool that allows Comerica small business customers to tap into competitive research, insights, and data to help their businesses make informed decisions. To learn more about SizeUp by Comerica, visit here.
