CLEVELAND, July 1, 2022 /3BL Media/ - The KeyBank Foundation announced it has invested in $500,000 The Presidents’ Council’s Comprehensive Capacity Building Program. For 25 years, the Cleveland-based organization has supported, developed and advocated for current and future generations of Black entrepreneurs across Northeast Ohio.
KeyBank is committed to the communities it serves and makes philanthropic investments in organizations and programs that advance social, racial, and environmental equity by investing in low-to-moderate income individuals and families. The Foundation’s mission is advanced through its three funding priorities – Neighbors, Education, Workforce – and through Community Service. The Presidents’ Council program reflects this mission.
“At KeyBank, financial inclusion and providing equitable access to capital are top priorities in our hometown of Cleveland and all of the communities we serve,” said Kelly Lamirand, KeyBank Cleveland Market President and Commercial Sales Leader. “For more than two decades, The Presidents’ Council has played a vital role for Black business owners in Northeast Ohio, helping to create opportunities that help with business growth and stability. We’re so proud to partner with an organization dedicated to our community and local economy, and we look forward to their continued success.”
“We are grateful to KeyBank Foundation for recognizing The Presidents’ Council’s 26 years of impact as An Engine for Black Business Growth. Through this Comprehensive Capacity Building funding, The Presidents’ Council is positioned to scale its infrastructure as well as programs and services, ultimately leading to a stronger entrepreneurial ecosystem, local economy, and Black-Owned businesses of scale,” said Erica C. Penick, The Presidents’ Council Executive Director.
Ms. Penick adds “We are committed to making significant, meaningful, and measurable progress toward the organization’s strategic goals of:
- 2x Capital (Debt + Equity) Invested in Black-Owned Businesses in NEO
- 2x number of Black-Owned Businesses with W2 Employees in NEO
- 4x Number of Black-Owned Businesses served through The Presidents' Council Business Chamber
For a demonstrated, consistent increase in baseline revenue of Black-owned businesses regionally by:
- Advancing the Black Business Agenda
- Increasing Access to Financial and Human Capital
- Increasing Access to High-Quality Business Services
- Strengthening Connections Within and For the Black Business Community”
As highlighted in Key’s 2021 Environmental, Social, and Governance Report, financial inclusion remains a priority in all areas of business. Click here to read more about KeyBank’s DE&I efforts in the ESG report.
About The Presidents’ Council
As An Engine for Black Business Growth, The Presidents’ Council Supports, Develops, and Advocates for our region’s current and future generations of Black entrepreneurs and leaders for sustainable wealth creation through Business Development + Entrepreneurial Support, Ecosystem Building (organizing & mobilizing), Championing + Thought Leadership, and Capital Formation + Investments; affecting influence and accountability at ALL levels that directly impact Black-owned businesses and the communities we serve.
KeyBank's roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp is one of the nation’s largest bank-based financial services companies, with assets of approximately $181.2 billion at March 31, 2022. 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 1,300 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.