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Anchorage Community Land Trust Receives $75,000 Grant from KeyBank

Mar 15, 2019 | Finance, News, Nonprofits, Small Business

Grant to support programs for entrepreneurs in low-income communities

Representatives from KeyBank present a check for $75,000 to the Anchorage Community Land Trust (ACLT). ACLT will invest the money its Set Up Shop program.

ACLT

Anchorage Community Land Trust (ACLT) has received a $75,000 grant from KeyBank, which will be used for the expansion of its Set Up Shop program. Set Up Shop provides a pipeline of support for neighborhood entrepreneurs looking to start or grow their business in low-income areas. Through the program, entrepreneurs have access to training, lending, business assistance, and real estate services to enable them to build the business of their dreams in their home community. This marks KeyBank’s largest small business investment in the State of Alaska.

“At KeyBank, our mission is to help our communities thrive— and nowhere is that more important than for small business entrepreneurs who have a dream and seek support to make that vision a reality,” said Alaska KeyBank President Lori McCaffrey in announcing the gift. “KeyBank considers small business to be the backbone of our local communities. ACLT is embedded and engaged in communities of need and sees the potential of these neighborhoods, and we are delighted to partner with them to help these industrious small-scale entrepreneurs improve their communities through business development.”

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The Set Up Shop program offers help in four core areas:

• Culturally appropriate, comprehensive training for new or growing entrepreneurs, via a 12-week training program of classes, workshops and one-on-one sessions taught by an experienced small business instructor.

• Access to microloans and lending resources through its small business loan fund, to allow entrepreneurs to find the appropriately sized capital they need to grow.

• Business assistance provided by professional contractors in all areas of operating and growing a business, including marketing, financials, legal questions, and more.

• Real estate assistance, to enable entrepreneurs to find the right space for their business and navigate the process of purchasing, renting, or making improvements.

“This generous gift signifies KeyBank’s commitment not just to our program, but to the entrepreneurs it serves who stand ready to rise,” says Kirk Rose, CEO of ACLT. “Set Up Shop takes the American dream from the board room and puts it on the kitchen table. We’re proud of these entrepreneurs for taking the first steps towards successful business ownership, and believe they will not only create and retain wealth within their neighborhoods, but will be role models and community leaders who empower the next generation.”

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