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TCF Bank giving out loans to minority, women-owned businesses

Detroit-based bank pledges $1 billion

WAYNE COUNTY, Mich. – There’s a big boost coming for minority small businesses in the city of Detroit. TCF Bank announced a new $1 Billion loan commitment to minority and women-owned small businesses.

“Black owned, woman owned,”said Jamesha Lucas with Bronzed ‘N' Glow.

It’s a title, Jamesha Lucas with Bronzed ‘N' Glow said, she is very proud of, “Bronzed ‘N' Glow is a modern twist to beauty supply retail. We combine education and technology, while shopping for hair products,” said Lucas.

Bronzed ‘N’ Glow is one of the newest businesses in the Avenue of Fashion District, so to be Black Owned and a woman, is unheard of, “Just really excited to bring something new, it’s what I always felt like our community needed,” said Lucas.

Lucas said getting to this point of just weeks from her grand opening, was a journey. She was anticipating opening up way before now, but then COVID hit.

“Detroit is our home town,” said Gary Torgow with TCF.

Gary Torgow with TCF Bank said he understands, this is a tough time for businesses, especially if you’re black owned. That’s why Thursday, they revealed an $1 Billion loan commitment to minority communities and minority and women owned small businesses, “When you have a Billion dollars, you could really do a lot of with and we’re hoping that people will come and apply in Detroit and we will be able to satisfy those opportunities and those needs.”

Torgow said, “It’s still a business loan and there are still requirements that go with it and we’re going to do everything we can to partner up with community organizations with the CDFI’s and we’re going to find those businesses that need our help and to bring them to our table and try and loan that money to them.”

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