Yesterday, Huntington Bank and Michigan governor Gretchen Whitmer announced a $5 billion investment commitment to help Michigan businesses, consumers and communities. The funding plan will be focusing broadly on providing capital to small business owners with an emphasis on those owned by minorities, women and veterans.
You may recall that as we highlighted previously on the Business Beat, TCF Bank announced a similar program with a $1 billion-dollar commitment in July.
Tune in to this morning’s WJR Business Beat to learn more about this great initiative:
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“Michigan’s rural small businesses and urban micro-businesses have been especially hard hit as a result of the COVID-19 pandemic and its effect on Michigan’s economy, and minority- and women-owned businesses throughout the state are seeking opportunities to stabilize and thrive. Our commitment to Michigan’s small businesses reflects the role they play in driving the state’s economy and the foundation they provide for our economic health.”
– Sandy Pierce, Huntington’s director of private banking, in a press release
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Good morning, Kevin.
Yesterday, Huntington Bank announced a $5 billion investment commitment to help Michigan businesses, consumers and communities get through the pandemic crisis and beyond. You may recall that as we highlighted previously on the Business Beat, TCF Bank announced this past July a similar program with a $1 billion-dollar commitment.
The funding plan will be focusing broadly on providing capital to small business owners with an emphasis on those owned by minorities, women and veterans. Over the next several months, Huntington will announce specific initiatives under the plan that it is putting in place to support these business owners.
In a press release issued yesterday, Sandy Pierce, Huntington’s director of private banking, had this to say about the investment commitment:
“Michigan’s rural small businesses and urban micro-businesses have been especially hard hit as a result of the COVID-19 pandemic and its effect on Michigan economy and minority- and women-owned businesses throughout the state are seeking opportunities to stabilize and thrive. Our commitment to Michigan small businesses reflects the role they play in driving the state’s economy and the foundation they provide for our economic health.”
Just as we were thankful when we heard the announcement made by Gary Torgow and TCF Bank, we’re equally thrilled now to receive Huntington Bank’s commitment to invest in our small business community and the citizens of the great state of Michigan.
I’m Jeff Sloan, founder, and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
