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KeyBank surpassed its goal to provide $3 billion in loans to women-owned businesses by April, 2012 – three months ahead of its target. Key’s achievement included loans to businesses of all sizes.
Since 2005, Key has lent more than $6 billion to women business owners (WOBs), and this is the third time that Key has exceeded a goal of lending to WOBs. Founded in 2005, the Key4Women program provides women in business access to capital, customized financial solutions, and educational and networking opportunities. 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; it was achieved at the end of December, 2011.
“We are especially proud of this accomplishment given how challenging the economy has been over the last three years,” said Maria Coyne, executive vice president and Key4Women founder. “When we made this commitment, at the height of the recession, we were counting on the resiliency we have seen in women owned companies.”
In addition to its lending goal for women business owners, in 2011, KeyBank committed to lend $5 billion to small-businesses overall in the next three years.