The KeyBank Foundation has awarded a $200,000 grant to Capital for Change, a Connecticut‑based Community Development Financial Institution (CDFI), to expand affordable housing, small business lending, and community development initiatives across the state.
The investment is part of a nationwide KeyBank initiative focused on strengthening CDFIs in underserved and undercapitalized communities, helping drive long‑term economic stability and inclusive growth.
Strengthening affordable housing and economic opportunity
Founded in 2016, Capital for Change is headquartered in Wallingford, Connecticut, and was established to deliver comprehensive community development lending throughout the state. The organization focuses on supporting affordable housing development, small business growth, and neighborhood revitalization.
The KeyBank Foundation grant will enable Capital for Change to scale its lending capacity and expand access to capital for projects, particularly in communities vulnerable to economic disruption.
“We are proud to invest in organizations that share our mission of creating lasting, positive change in the communities we serve,” said Matt Hummel, President, Connecticut & Massachusetts Market, KeyBank. “This grant celebrates Capital for Change’s efforts to promote economic empowerment, business growth, and financial stability in Connecticut’s neighborhoods.”
Supporting underserved communities across Connecticut
With KeyBank’s support, Capital for Change will deepen its impact across urban and rural communities by addressing long‑standing gaps in access to financing for affordable housing and community‑based development projects.
“KeyBank’s support allows us to expand affordable housing, strengthen small businesses, and ensure that underserved communities have access to the capital they need to thrive,” said Diane Smith, CEO of Capital for Change. “This grant helps accelerate our mission of building equitable, resilient neighborhoods across Connecticut.”
Part of a nationwide KeyBank community development commitment
The $200,000 grant to Capital for Change is part of KeyBank’s broader commitment to invest $200,000 in community development efforts across each of its 27 markets nationwide. In total, the initiative represents $5.4 million in funding dedicated to strengthening local economies and advancing equitable access to opportunity.
These grants provide flexible funding to CDFIs and community foundations, supporting activities such as:
- Expanding community lending programs
- Enhancing organizational infrastructure
- Scaling services to reach underserved populations
- Driving long‑term sustainability and economic impact
Together, the investments reflect KeyBank’s enduring legacy of service, resilience, and community partnership, reinforcing its role as a leader in community development finance and inclusive economic growth.
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