KeyBank Foundation’s largest-ever grant in Utah will help the Suazo Business Center, a Utah-based nonprofit business development organization expanding access to business ownership, capital and financial education.
The $600,000 grant will support the development of a hybrid entrepreneurship program that combines self-paced learning with live instruction, helping remove barriers related to language, scheduling, transportation and geography for economically disadvantaged entrepreneurs.
Over time, the funding will expand the number of participants served, supporting both new and existing entrepreneurs. It will also enable virtual bilingual cohorts with one-on-one advising, helping create and retain jobs while strengthening household stability.
“For nearly 25 years, our mission has always been to provide individuals and entrepreneurs across Utah with pathways to build generational wealth,” said Silvia Castro Bennett, Suazo’s president and CEO. “We do that by expanding access to business ownership, capital and financial education. This award from KeyBank will allow us to expand our services into a framework that will help our clients to thrive for many years to come.”
The KeyBank Foundation focuses its philanthropic efforts on three pillars: neighbors, education and workforce.
“Suazo Business Center is empowering Utah entrepreneurs with the skills and confidence to build sustainable careers and businesses,” said Drew Yergensen, KeyBank’s Utah market president. “This initiative aligns with KeyBank’s neighbors, education and workforce priorities by expanding access to education and supporting job creation.”
“We appreciate the work Suazo does to help our local entrepreneurs succeed financially,” said Brianna Hein, KeyBank’s corporate responsibility officer for Utah. “We are proud to support this impactful, barrier-removing program that strengthens our community.”
The Suazo Business Center is one of only a handful of Community Development Financial Institutions in Utah and has served the community since 2002, assisting in educating, growing and developing over 11,000 clients and small businesses. The center has created more than 7,000 new small businesses and helped generate billions of dollars in revenue as an investment into Utah’s local economies.
KeyBank, based in Cleveland, Ohio, has assets of approximately $189 billion. It provides deposit, lending, cash management and investment services to individuals and businesses in 15 states through a network of approximately 950 branches and about 1,100 ATMs.