Access to Capital: Here's What KeyBank Is Doing to Strengthen Minority-owned Businesses in Dayton

April 27, 2021 at 07:00 AM EDT

SOURCE: KeyBank

DESCRIPTION:

In March, KeyBank announced that it had invested $120 million in Dayton since 2017 to spur economic access and equity in underserved areas. The bank also expanded its National Community Benefits Plan from $16.5 billion to $40 billion, which will provide additional lending and philanthropy to all KeyBank markets over the next five years, including Dayton.

It builds upon KeyBank's existing efforts in the city, including originating more than 400 small business loans under $1 million last year — nearly one-third of which supported businesses in low- and moderate-income communities.

"Small businesses can only thrive when they're in a healthy neighborhood," said Mike McCuen, KeyBank's market president for Southwest Ohio. "So, that's really a focus of ours: To make sure these neighborhoods are doing well."

Tweet me: In Dayton alone, @KeyBank originated more than 400 small business loans under $1 million last year — one-third of which supported businesses in low- and moderate-income communities. Read more on how they continue to support minority owned businesses: https://bit.ly/3vf15aa

KEYWORDS: keybank, Minority Owned Businesses, NYSE:KEY