Women's Enterprise Development Center Receives $15,000 Grant From KeyBank Foundation To Support Its Entrepreneur Growth Lab

Rhea-AI Summary

KeyBank Foundation has granted $15,000 to the Women's Enterprise Development Center (WEDC) to support its Entrepreneur Growth Lab. The funding will enhance WEDC's ability to provide entrepreneurial training, advisory services, and capital access to small business owners in Westchester County and the Hudson Valley.

WEDC serves over 1,200 clients annually, primarily focusing on low-to-moderate income women and minorities. The organization offers MWBE certification assistance and provides programs in both English and Spanish. This grant is part of KeyBank's $40 billion commitment established in 2017 for lending and investments across its national footprint, supporting affordable housing, community development, and small business lending in low-and-moderate income communities.

Positive

• KeyBank Foundation's $15,000 grant strengthens WEDC's entrepreneurial support programs
• Part of KeyBank's larger $40 billion commitment for community development and lending
• KeyBank demonstrates strong financial position with $190 billion in assets as of September 2024

Negative

• None.

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TARRYTOWN, NY / ACCESSWIRE / December 4, 2024 / The Women's Enterprise Development Center (WEDC), a not-for-profit micro-enterprise development program that helps women achieve economic self-sufficiency through small business development, has received a grant of $15,000 from KeyBank Foundation, the charitable foundation of KeyBank. Focused on supporting entrepreneurial training and small business development, KeyBank's funds will be directed toward WEDC's Entrepreneur Growth Lab, which assists entrepreneurs with navigating all aspects of starting, running, and growing their business. The Lab provides high quality training programs, advisory services, and access to capital for small business owners and entrepreneurs as a means of generating economic growth in Westchester County and the Hudson Valley.

"Support from Key Bank is instrumental in driving the success of our Entrepreneur Growth Lab," said WEDC's CEO Nikki Hahn. "Their commitment not only fuels the resources and support that help early-stage companies grow but also strengthens our broader mission to cultivate a thriving entrepreneurial ecosystem. This partnership underscores the critical role of financial institutions in empowering aspiring small business owners from underserved communities, helping to create pathways to success and economic resilience where it's needed most."

WEDC serves more than 1,200 clients a year with a primary focus on supporting low-to-moderate income women and minorities interested in starting or growing a business. WEDC is known for recognizing its clients' unique needs not only as business owners but often as individuals facing personal challenges on their journeys to entrepreneurship. In addition, one of WEDC's main offerings is to provide MWBE training and certification assistance. WEDC offers workshops for completing MWBE certification with New York State and is committed to making MWBE certification more accessible to BIPOC communities that we serve by offering programs in English and Spanish.

"KeyBank is committed to supporting initiatives that drive economic empowerment and financial stability for underserved communities," said John Manginelli, KeyBank Market President for Hudson Valley and Metro NY. "Our grant to the Women's Enterprise Development Center underscores our dedication to fostering entrepreneurship and creating opportunities that help women build successful businesses and stronger communities."

KeyBank Foundation grants are part of a $40 billion commitment for lending and investments across Key's national footprint established in 2017 and supporting affordable housing and community development projects, home, and small business lending in low- and-moderate income communities, and philanthropic efforts targeted toward education, workforce development, and safe, vital neighborhoods. For more information, visit www.Key.com/Foundation.

About Women's Enterprise Development Center

The Women's Enterprise Development Center (WEDC) empowers entrepreneurs to build successful businesses by providing high-quality training programs, advisory services, and access to capital to generate economic growth in Westchester County and the Hudson Valley. With two Women's Business Centers, we offer a full range of programs and services in English and in Spanish, to serve our diverse population of clients.

About KeyBank Foundation:

KeyBank Foundation serves to fulfill KeyBank's purpose to help clients and communities thrive, and its mission is to support organizations and programs that prepare people for thriving futures. The Foundation's mission is advanced through three funding priorities - neighbors, education, and workforce - and through community service. To provide meaningful philanthropy that transforms lives, KeyBank Foundation listens carefully to understand the unique characteristics and needs of its communities and then backs solutions with targeted philanthropic investments. KeyBank Foundation is a nonprofit charitable foundation, funded by KeyCorp.

About KeyCorp/KeyBank

KeyCorp's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $190 billion at September 30, 2024. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

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KeyBank Media Contact: Karen Crane | karen_crane@keybank.com

WEDC Media Contact: Paula Zorilla | PZorilla@wedcbiz.org

Leaders from WEDC and KeyBank gather for a check presentation. Pictured from left: KeyBank Poughkeepsie Branch Manager Nwan Marc; WEDC Spanish Program Manager, Brianna Trujillo; WEDC CEO Nikki A. Hahn; WEDC Mid-Hudson Women's Business Center Director Cynthia Marsh-Croll; WEDC Business Counselor Maureen Brivett; KeyBank Senior Area Retail Leader, Irenee Provenzano; and KeyBank Personal Banker Migdalia Pellot.

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 Foundation grant to Women's Enterprise Development Center in 2024?

KeyBank Foundation granted $15,000 to the Women's Enterprise Development Center in December 2024 to support its Entrepreneur Growth Lab program.

What is KeyBank's (KEY) total asset value as of September 2024?

KeyBank reported total assets of approximately $190 billion as of September 30, 2024.

What is the size of KeyBank's (KEY) community investment commitment announced in 2017?

KeyBank committed $40 billion for lending and investments across its national footprint, established in 2017, supporting affordable housing, community development, and small business lending.