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KeyBank of Cleveland expands plan to invest billions in low-income neighborhoods


KeyBank of Cleveland expands plan to invest billions in low-income neighborhoods
Eric Heisig, cleveland.com
CLEVELAND, Ohio The Cleveland-based KeyBank on Thursday said it would expand a nationwide initiative to invest tens of billions of dollars into lower-income communities through small business loans, mortgages and other programs.
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The financial institution said in a news release that it spent $18 billion between 2017 and 2020 through a “community benefits plan.” It now plans to continue the program and bring its total investment to $40 billion in 15 states.
The bank initially committed $16.5 billion. The $18 billion invested over four years included $996 million in investments in Northeast Ohio, according to the release. ....

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