Money names KeyBank “best” for startups

The magazine Money has named KeyBank the “Best Bank for Startups” in its 2016-17 list of best banks.

KeyBank, which is a major player in the Central New York banking market, won the honor in recognition of its business-reward checking, a non-interest-bearing account that rewards clients with exclusive discounts on products and services, the banking company said in a news release.

Money evaluated more than 27,000 data points across 800 separate accounts, looking at traditional banks, online banks, and credit unions to determine the best banks in the U.S., KeyBank said.

“Being recognized as the ‘Best Bank for Startups’ by Moneymagazine is a testament to our commitment to helping small businesses thrive,” Annette Hazapis, head of Key’s business-resource center, contended.

Key has been a U.S. Small Business Administration “preferred lender” for more than 15 years, the banking company said.

Cleveland, Ohio–based KeyCorp (NYSE: KEY), parent of KeyBank, had assets of about $101 billion as of June 30.

KeyCorp on July 29 closed on its $4.1 billion acquisition of Buffalo–based First Niagara Financial Group, Inc. (NASDAQ: FNFG).

KeyBank operates in 15 states through a network of more than 1,200 branches.

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