CLEVELAND-- KeyBank has surpassed its goal to provide $3 billion in loans to women-owned businesses by April -- three months ahead of its target. Key's achievement includes loans to businesses of all sizes.
As one of the nation's largest financial services companies and top small business lenders, Key provides financial services to thousands of women-owned businesses in 14 states. The recent achievement is the capstone of a 2009 pledge to lend $3 billion within three years, said Maria Coyne, executive vice president and Key4Women founder. "We are especially proud of this accomplishment given how challenging the economy has been over the last three years," Coyne noted. "When we made this commitment, at the height of the recession, we were counting on the resiliency we have seen in women-owned companies."
Since 2005, Key has lent more than $6 billion to women business owners, and this is the third time that Key has exceeded a goal of lending. Founded in 2005, the Key4Women program provides women in business access to capital, customized financial products and services and educational and networking opportunities.
"Local Key4Women Champions in our sales force focus on connecting women in business with each other and opportunities in their communities," said Aneta Kuzma, senior vice president and Key4Women national program manager. As a result of this focus, a recent J.D Power study ranked KeyBank among the top banks nationwide for small business customer satisfaction.
In addition to its lending goal for women business owners, KeyBank last fall committed to lending $5 billion to small businesses overall within the next three years.
One of the nation's largest bank-based financial services companies, Key had assets of approximately $89 billion at Dec. 31.
Published by The Business Journal, Youngstown, Ohio.