Business Owners, Experts, Share Ideas, Concerns and Challenges with Bank

CLEVELAND, June 23 /PRNewswire-FirstCall/ -- Key4Women, KeyBank's women-owned business banking program, has appointed a new group of women business owners to its National Advisory Board. Originally formed in 2006, the advisory board helps the Key4Women program understand the specific needs of women business owners and spot burgeoning trends.

The 2009-2010 board is made up of women business owners and business experts, 14 of whom are business owners from a variety of industries with annual sales of up to $15 million. The board also includes representatives from the Women Presidents' Organization and the Center for Women's Business Research, two of the most respected women's business organizations in the United States. Together, these women contribute real-world experience and insights from running their successful companies and organizations.

"Studies have shown that using advisory boards is one of the ways top companies achieve success. But, according to research, only half of large firms and only 18 percent of smaller firms owned by women have boards of directors," said Maria Coyne, KeyBank EVP and founder of Key4Women. "It is important for women business owners to assemble their own boards and solicit valuable advice on how to strengthen and grow their businesses."

The Members of the 2009-2010 Key4Women Board are:

Diane Brunner, owner and president of DavisCollege in Toledo, Ohio. Davis College offers quality higher education for career-driven students. Brunner has led the 150-year-old institution since 1993, during which time the college has consistently experienced revenue growth.

Carrie Davenport, owner of Century Personnel, Inc. in Carmel, Indiana. Century Personnel, Inc. is a contingency recruiting firm specializing in the placement of professionals in the manufacturing, health care, and finance industries. The business was started in 1977 by Davenport's father. Davenport joined the firm in 1980 and became sole owner in 2005. Century Personnel is a Certified Women Business Enterprise in the State of Indiana.

Marsha Firestone is founder and president of the Women Presidents' Organization (WPO), a nonprofit peer advisory program for women-owned businesses that exceed $2 million in annual revenues. She was an original member of the Key4Women advisory board and has been reappointed. The Women President's Organization has more than 80 chapters worldwide. Key is a long-time sponsor of the WPO and host to many of the WPO chapters across its 13-state footprint.

Wendy Goldstein, owner of Costume Specialists in Columbus. Costume Specialists designs, manufactures and maintains costumes for corporations and theaters. The company employs 46 people and operates a retail store and USA Glitter - make-up catering to the cheerleading and dance communities. Wendy is a member of the Women Presidents Organization, a founding member of the Ohio Women's Business Growth Initiative, and past president of the Columbus chapter of the National Association of Women Business Owners (NAWBO).

Angie Hofelich, owner of VanityLab in Westlake, Ohio. VanityLab is a spa, salon and shop offering personalized service with a city edge and an apothecary approach to hair care. Services include a range of unique salon offerings such as style mapping consultations, a "color bar" where the stylist mixes hair color like a cocktail and chocolate pedicures.

Karyn Korteling, owner of Noodle, Inc., Pastabilities, and Our Daily Bread, all in Syracuse, New York. Noodle Inc. is the parent organization of Pastabilities restaurant and Pasta's Daily Bread bakery. Korteling founded the 55-employee business in 1982, and the bakery provides bread to many Syracuse-area restaurants. The restaurant has evolved from a one-room lunch spot into a three dining room establishment, with full bar and outdoor piazza.

Gwen Martin, PhD, director of research and interim executive director of the Center for Women's Business Research in Washington, D.C.The Center for Women's Business Research provides data-driven knowledge that advances the economic, social and political impact of women business owners, by setting the national agenda, creating insight on the status and achievements of women business owners, altering perceptions about the economic viability and progress of women-owned enterprises, and driving awareness of the economic and social impact of this vital business sector.

Janice Parker, founder and CEO of Arbor Park Child Care Center in Albany, New York. Founded in 1983, Arbor Park Child Care provides high-quality child care. In addition to running the business, Parker is a PhD student at University at Albany and an active community leader. Her PhD follows both a Masters and MBA degree.

Heather Paine, vice president and co-owner of Spirited Living, Inc., in South Burlington, Vermont. Spirited Living Inc. is an umbrella company with three divisions: Dragonfly Candle, a wholesale candle manufacturer featuring hand-poured palm wax candles; CW Creations, a manufacturer of hand-crafted jewelry; and Candles & Creations, a unique Vermont boutique specializing in "Helping Other People Eternally" through its mission of providing a community nexus for art, philosophy, and wellness.

Andrea Crisafulli-Russo, owner of Crisafulli Bros. Plumbing & Heating Contractors, Inc. in Albany, New York. Crisafulli Bros. celebrates its 70th year in business this year under the leadership of Crisafulli-Russo, the third-generation owner and granddaughter of its founder, Carmelo Crisafulli, Sr. Crisafulli Bros. is one of the largest mechanical service firms in the Albany area, providing plumbing, heating and air conditioning design, installation, maintenance and service to residential and commercial clients.

Gretchen Schauffler, owner of Devine Color Inc. in Lake Oswego, Oregon. Devine Color produces boutique paints targeted to women. Schauffler's book, Devine Color: When Color Sings, details how to create the perfect color relationships in one's home and highlights her unique color philosophy. She has a popular internet blog and e-store at http://www.devinecolor.com/.

Joyce Wells, owner of Eatmor Bundt Co., Ltdand The Twisted Fig Tea Room in Mansfield, Ohio. After leaving the pharmaceutical industry to launch her own business, Wells has tripled her business in five years. The company bakes specialty bundt cakes and cookies, serving them, along with sandwiches, soups and quiches, in a tea room/bistro-style cafe.

Sapna Welsh, owner of Leverage HR in Westerville, Ohio. Leverage HR helps organizations manage their employees to reach peak performance through customized training, professional coaching, and Human Resources solutions. Welsh is a registered corporate coach (RCC) and a certified H.R. professional (PHR) with a Masters in Labor and Human Resources (MLHR). Her business is MBE and EDGE certified.

Vanetta Chesbro Wilson, CEO of Chesbro Music Company in Idaho Falls, Idaho. Chesbro Music Company is a fourth-generation distributor of musical instruments, music accessories, printed music, and music themed gifts. The company employs 70 people and sells to more than 2000 music dealers throughout the United States and Canada.

Roberta Winchell, CEO of the Law Office of Roberta Winchell in Bangor, Maine. Winchell launched her firm in December 2007, transitioning from a career in human resources management. She is on the Advisory Board of Eastern Maine Medical Center and Acadia Hospital and she chairs the Salvation Army Board of Directors.

Tammy Wise, president of Wise Group in Cleveland, Ohio. The Wise Group creates strategic print and digital communication vehicles for companies and organizations throughout North America. Tammy Wise is a past board member of the National Association of women business owners.

Female entrepreneurs represent a highly dynamic segment of the small business market. According to the Center for Women's Business Research, 10.1 million firms are majority-owned by women. As of 2008, these firms accounted for 40 percent of all privately held companies, employed more than 13 million people and generated $1.9 trillion in sales.

As one of the nation's largest financial services companies and top small business lenders, Key provides financial services to thousands of women-owned businesses in 13 states.

About Key4Women

Key4Women is KeyBank's women-owned business initiative, designed to provide female entrepreneurs with access to capital, financial solutions, educational offerings and networking opportunities. Key4Women offers customized service and financial expertise to clients through a team of dedicated Key4Women Relationship Managers in 13 states. The program is founded in research that shows women business owners have unique challenges accessing capital and conduct business differently from their male counterparts. Working closely with the Center for Women's Business Research, Key4Women sponsors research on the successes, challenges and concerns of women business owners and utilizes the findings to develop its program offerings. Key4Women recently announced KeyBank will lend $3 billion to qualified women-owned businesses nationally by the year 2012. This new commitment comes on top of lending $3 billion to women owned business since 2005.

About KeyCorp

Cleveland-based KeyCorp (NYSE: KEY) is one of the nation's largest bank-based financial services companies, with assets of approximately $98 billion. BusinessWeek Magazine named Key the top bank in its Customer Service Champ 2009 edition, ranking Key 11th out of the top-25 companies that include many known for their customer service acumen. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.key.com/.

Key Media Newsroom: www.key.com/newsroom

SOURCE KeyCorp