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

KEY | 3 hours ago

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."