KeyBank Foundation Launches $200K Grant Program for CDFIs Nationwide

To commemorate its bicentennial, the KeyBank Foundation is launching a grant program aimed at supporting Community Development Financial Institutions (CDFIs) that facilitate affordable housing and small business development. Each grant will provide $200,000 to one exemplary CDFI in each of KeyBank's 27 markets, allowing for flexible funding to enhance services, infrastructure, and community impact. Eric Fiala, Chief Corporate Responsibility Officer at KeyBank, emphasized the role of CDFIs in promoting economic empowerment within underserved communities. Eligible applicants must demonstrate a strong track record in advancing affordable housing or small business initiatives and be based in a KeyBank market. The program highlights KeyBank's commitment to community development and economic opportunity, potentially setting a benchmark for other financial institutions. Additionally, for-profit CDFIs will face extra reporting requirements, which may impact their participation in the program.