KeyBank Foundation Invests $300,000 in Indiana Black Expo’s Black Business Training Institute
Funding will assist IBE in its mission of working to eliminate racial disparities and increase the capacity of Black businesses to grow their workforce and strengthen existing minority small businesses
(INDIANAPOLIS) – The KeyBank Foundation is making a $300,000 grant to the Indiana Black Expo’s (IBE) Black Business Training Institute. This investment is part of KeyBank’s $40 billion National Community Benefits Plan, which helps communities reach social, economic and racial equity. This funding will assist IBE in its mission of working to eliminate racial disparities that exist for African Americans and other underrepresented and disadvantaged individuals.
“IBE is a major economic and social contributor and force for change in our community. Now more than ever, the work they do to help entrepreneurs and small business owners is crucial to building strong, vibrant and sustainable neighborhoods,” said Juan Gonzalez, KeyBank Central Indiana Market President and Business Banking Sales Leader. ”This investment by KeyBank in the Black Business Training Institute shows that we are proud to stand with them and amplify their efforts to be a voice and vehicle for social and economic advancement across our state.”
The goal of the IBE’s Black Business Training Institute is to re-energize Central Indiana’s African American small business community by establishing more thriving businesses led by Black entrepreneurs. Doing so will increase the capacity of Black businesses to grow their workforce and strengthen existing minority small businesses. IBE plans to do this by:
- Strengthening the entrepreneurial ecosystem to encourage personal development and increase peer resources for Black business development
- Increasing the number of procurement opportunities for minority-led small businesses
- Increasing Indiana business owners’ access to the best available talent from the Black and minority community
To accomplish these objectives, IBE will offer a robust 10-week business management program for two cohorts of 25 business owners in Central Indiana. The first cohort training will take place in Indianapolis this spring and the second cohort will occur in the fall. The training will focus on practical business skills that can immediately be applied by small minority business owners.
Other partners of the initiative include Innopower, Central Indiana Small Business Development Center (CI-SBDC) and Co-Hatch.
“IBE has been supporting and training small minority businesses since its inception 51 years ago and KeyBank has been a strong supporter of our Black Business Conference for more than a decade. We are grateful for KeyBank’s continued investment in our economics equity work and the opportunity to intensify our supports provided to Black-owned businesses,” said IBE President & CEO Tanya Mckinzie. This initiative has been two years in the making as we listened to business owners across the state share with us the areas where they need more support,” added Mckinzie.
IBE will continue its Black Business Conference and Series to offer free webinars and workshops to the business community. The webinars are available for free on IBE’s website.
Business owners and entrepreneurs interested in participating in the first cohort can complete the application available on IBE’s website at: https://www.indianablackexpo.com/contact-ibe/.
KeyBank’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, KeyCorp 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.
ABOUT THE INDIANA BLACK EXPO
Indiana Black Expo, Inc. (IBE) is a 51-year-old 501(c)(3) non-profit corporation headquartered in Indianapolis with twelve chapter affiliates throughout Indiana. The organization’s mission is to be an effective voice and vehicle for the social and economic advancement of African Americans. IBE’s vision is to help African American youth and families achieve their highest potential and reflect pride in their culture and ethnicity. IBE’s focus areas are Education Equity, Economics Equity, Youth Development, Health Equity and Community Empowerment.