The Lake Champlain Chamber and KeyBank are pleased to announce a grant of $150,000 from the KeyBank Foundation in support of the Lake Champlain Opportunity Fund and LaunchVT. The funded project aims to create economic opportunity for small- to medium-sized entrepreneurial founders and accompanying jobs, with a focus on historically underserved populations and female founders.
The project will accelerate over 100 small and medium businesses throughout the state in the next three years through skill development, leadership training, and assistance with accounting, marketing and branding, sales, and more. The grant will support a climate of inclusion and opportunity, which KeyBank and the Chamber are strongly committed to, and with specific targets for BIPOC business entrepreneurs, rural and female founders, and beneficiaries with below 80% of the area median family income. The creation of at least 150 new jobs is also slated, with average annual salaries and wages over $60,000 and competitive benefit packages.
“Here at the Chamber, much of our work is dedicated to seeking economic opportunity for all and supporting business ownership and entrepreneurship, so we are extremely grateful for KeyBank’s support of the Opportunity Fund and our LaunchVT program. Within the next three years, this project will not only support new small and scalable businesses and create jobs, it will also further diversity, equity, and inclusion in Vermont, which is integral to a thriving economy and our community as a whole.”
KeyBank, one of the nation’s top small- and medium-sized business lenders, is also excited about the partnership.
LaunchVT and the Lake Champlain Chamber are well-positioned to make this upcoming project a great success. They have a solid track record for providing support for area businesses, and with their extensive community of local business leaders and staff, their network is among the best to help develop skills and leadership of new Vermont businesses
KeyBank Foundation’s grant is made under Key’s National Community Benefits Plan established in 2017, which has already delivered more than $18 billion in lending and investments across Key’s national footprint supporting affordable housing and community development projects, home lending and small business lending in low- and-moderate income communities, and philanthropic efforts targeted toward education, workforce development, and safe, vital neighborhoods.
About KeyBank Foundation:
KeyBank Foundation serves to fulfill KeyBank’s purpose to help clients and communities thrive, and its mission is to support organizations and programs that prepare people for thriving futures. The Foundation’s mission is advanced through three funding priorities – neighbors, education, and workforce – and through community service. To provide meaningful philanthropy that transforms lives, KeyBank Foundation listens carefully to understand the unique characteristics and needs of its communities and then backs solutions with targeted philanthropic investments. KeyBank Foundation is a nonprofit charitable foundation, funded by KeyCorp.
About KeyCorp/KeyBank
KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $186.3 billion at December 31, 2021. 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.