KeyBank Invests $300,000 in Indianapolis Urban League to Expand Entrepreneurship Center Program

Rhea-AI Summary

KeyBank has announced a $300,000 investment in the Indianapolis Urban League (IUL) to expand its Entrepreneurship Center Program (ECP). The program, established in 2021, supports minority-owned small businesses in Central Indiana through workshops, training, coaching, and resources. Since its inception, ECP has enrolled 196 businesses, awarded over $146,000 in grants, and provided over 2,893 hours of business counseling. The new funding will enhance programming with additional services including mentoring, financial literacy training, and design support, tailored to each entrepreneur's business stage.

Positive

• Program has awarded over $146,000 in grants since 2021
• Enrolled 196 small businesses across six cohorts
• Provided over $398,501 in additional grant funding support
• Conducted over 2,893 hours of business counseling
• 20 small business owners earned industry-recognized credentials

Negative

• None.

Insights

Market Research Analyst

The $300,000 investment in the Indianapolis Urban League's Entrepreneurship Center Program represents a strategic but modest financial commitment relative to KeyBank's market cap. While the program has shown promising results since 2021, including supporting 196 businesses and facilitating over $398,501 in external funding, this initiative's direct impact on KEY's financial performance will be minimal in the short term.

The program's track record of distributing $146,000 in grants and providing 2,893 counseling hours demonstrates effective resource deployment, but the scale is too small to materially affect KeyBank's business metrics or stock performance. However, this community investment aligns with ESG priorities and could strengthen KeyBank's position in the Central Indiana market long-term through enhanced brand reputation and potential customer acquisition among emerging businesses.

NORTHAMPTON, MA / ACCESSWIRE / November 26, 2024 / KeyBank
IUL plans to enhance the ECP by offering more comprehensive programming and services tailored to each entrepreneur's business stage at the time of enrollment

KeyBank and the KeyBank Foundation proudly announced an investment of $300,000 the Indianapolis Urban League (IUL) to expand its Entrepreneurship Center Program (ECP).

The ECP was established in 2021 to support entrepreneurs in developing, launching, sustaining, and expanding minority-owned small businesses in Central Indiana and the surrounding counties. This comprehensive program offers both current and prospective small business owners access to in-person and virtual workshops, short-term industry-recognized training credentials, individualized coaching, and resources to help maximize revenue, reduce costs, enhance profitability, and create job opportunities.

Using funding from KeyBank, IUL aims to enhance the ECP by offering more comprehensive programming and services tailored to each entrepreneur's business stage at the time of enrollment. This expansion will enable IUL to provide additional resources and support to participants throughout their time in the program. These added resources will include mentoring, financial literacy training, logo and website design, among others.

"KeyBank recognizes the critical role that minority-owned businesses play in driving economic growth and building stronger communities," said Juan Gonzalez, KeyBank Central Indiana Market President. "Supporting the Indianapolis Urban League's Entrepreneurship Center Program allows us to help break down barriers for these entrepreneurs by providing the resources, training, and mentorship they need to succeed. This investment reflects our continued commitment to fostering equity, opportunity, and sustainable success for businesses that are vital to the future of Central Indiana."

Since 2021 the program has achieved the following:

• Enrolled 196 small businesses in six (6) cohorts

• Awarded over $146,000 in IUL Helping Hand Grant Funds ($101,000 2022 and $45,00 in 2023)

• Provided over $50,000 to 175 entrepreneurs participating in the IUL Entrepreneur & Small Business Fair in 2022 and 2023

• Program participants were awarded over $398,501 in other grant and funding support

• Conducted over 75 small business workshops

• Conducted over 2,893 total small business counseling hours

• 20 small business owners earned industry-recognized training credentials

"KeyBank understands what it takes to help establish and grow a business in Central Indiana. The Indianapolis Urban League is truly appreciative of our partnership with KeyBank and their generous contribution of $300,000 to help support our Entrepreneurship Center Program," said Tony Mason, Indianapolis Urban League President and CEO. "The contribution will help to ensure that ECP participants, established and aspiring minority-owned businesses and entrepreneurs are prepared to succeed, create generational wealth and contribute to the economic vitality of Indianapolis and Central Indiana."

View additional multimedia and more ESG storytelling from KeyBank on 3blmedia.com.

Contact Info:
Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: info@3blmedia.com

SOURCE: KeyBank

View the original press release on accesswire.com

FAQ

How much did KeyBank invest in the Indianapolis Urban League's Entrepreneurship Center Program?

KeyBank invested $300,000 in the Indianapolis Urban League's Entrepreneurship Center Program to expand its services and support for minority-owned businesses.

What has the IUL Entrepreneurship Center Program achieved since 2021?

Since 2021, the program has enrolled 196 businesses, awarded over $146,000 in grants, provided $398,501 in additional funding support, conducted over 75 workshops, and delivered 2,893 hours of business counseling.

What new services will KeyBank's investment provide to the ECP program?

The investment will provide additional services including mentoring, financial literacy training, logo and website design, tailored to each entrepreneur's business stage.