Comerica Bank Loan Loss Reserve Program
Nor-Cal FDC was awarded a $50,000 grant in November 2006 from Comerica. The use of these funds were granted to Nor-Cal FDC to increase its lending to those businesses that are underserved by conventional or near conventional lenders.
The $50,000 grant was also used to increase Nor-Cal FDC's loan loss reserve funds. Those funds have been leveraged to provide $500K in direct lending capacity.