Comerica Bank announces new platform

Comerica Bank has unveiled its first fully digital lending platform, Comerica Small Business Convenient Capital, aimed at providing easy access to capital and value-added benefits for small business customers. Developed in collaboration with Amount, a digital lender and credit solutions provider, the platform is designed to serve small businesses across the United States with loan requirements of up to $100,000. The focus is on streamlining and expediting the lending process, ensuring faster approvals and funding.

Amount specialises in simplifying and enhancing banking experiences for financial institutions through its comprehensive suite of omnichannel consumer, small business, and point-of-sale financing solutions. By partnering with Amount, Comerica Bank aims to meet the evolving demands of its small business customers and improve its digital capabilities.

Omar Salah, Comerica Bank’s Director of Small Business Banking, highlighted the platform as one of the bank’s many investments in small business products and services. Salah emphasised the goal of providing a seamless and unparalleled customer experience to the growing small business community by facilitating faster access to capital through the online lending platform. The bank intends to exceed customer expectations and empower small businesses through enhanced digital capabilities.

Adam Hughes, CEO of Amount, expressed excitement about the partnership with Comerica and the opportunity to enhance the bank’s digital offerings for small businesses. Hughes believes that the Comerica Small Business Convenient Capital platform will meet the needs of small businesses by offering a simplified loan approval process with swift decision-making and funding within three days.

Through the launch of this digital lending platform, Comerica Bank aims to support the growth and success of small businesses by providing them with a convenient and efficient way to access capital, reinforcing its commitment to meeting the evolving needs of its customers in the digital era.