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KeyBank Lends $3 Billion to Women-Owned Businesses, Surpassing Goal

March 06, 2012, 06:00 AM
Filed Under: Banking News

KeyBank has 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.
Through our Key4Women program, we deliver on our commitment to women-owned businesses," said Maria Coyne, executive vice president and Key4Women founder.  "They're helping to drive economic growth; they're investing in their companies and their employees."
"We are especially proud of this accomplishment given how challenging the economy has been over the last three years," said Coyne. "When we made this commitment, at the height of the recession, we were counting on the resiliency we have seen in women-owned companies."

"We were also confident that our relationship managers would look at each business individually and work with the owners to customize solutions. Our Key4Women members have told us that our customer service has a lot to do with why women come to us for financial services," said Aneta Kuzma, senior vice president and Key4Women national program manager.

"Local Key4Women Champions in our sales force focus on connecting women in business with each other and opportunities in their communities," said Kuzma. 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.

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