The grants, which are part of KeyBank’s broader commitment to building stronger, more equitable communities, will directly support underserved small businesses and provide essential nutrition to children across Columbus and Central Ohio.
$200,000 to Fuel Economic Opportunity for Small Businesses
A grant of $200,000 has been awarded to Freedom Equity, a Columbus-based Community Development Financial Institution (CDFI) focused on expanding access to capital for underserved small businesses, particularly those owned by Black and African American entrepreneurs.
The funds will be used to launch a crucial new initiative: a Low-Interest Merchant Cash Advance (MCA) Alternative. This program is designed to offer fair and transparent financing options for businesses that are often excluded from traditional lending channels.
“Freedom Equity was founded to improve access to affordable capital for underserved businesses,” said J. Averi Frost, President and CEO of Freedom Equity. “This grant will give our customers access to funds without creating the kinds of hardships that high interest loans with difficult terms sometimes create.”
$250,000 to Fight Childhood Hunger
The KeyBank Foundation has also committed $250,000 to the Children’s Hunger Alliance (CHA) to bolster its Early Childcare Program for In-home Providers and Childcare Centers.
This vital investment is projected to:
* Deliver over one million nutritious meals and snacks to approximately 3,400 children in Franklin County.
* Expand critical nutrition education for children and caregivers.
* Support 130 small childcare businesses, many of which are minority- and women-owned, strengthening the entire childcare ecosystem that working families rely on.
In a statement, KeyBank representatives emphasized that these grants reflect their commitment to helping Central Ohio neighbors build stability, resilience, and long-term success, stating that investing in both small businesses and childhood nutrition is key to an overall thriving community.