LOUISVILLE, Ky. — Charter Communications announced a $3 million investment into Hope Enterprise Corporation (HOPE) which provides loans to local businesses in financially underserved areas in Kentucky, Tennessee and Alabama.
The company that operates Spectrum said in a press conference Wednesday that $1 million of the investment is dedicated to Kentucky communities.
“Small business ownership and growth are fundamental to developing and sustaining economic strength and our support to local businesses will provide access to much-needed capital allowing them to thrive," Charter Senior Executive Vice President David Ellen said. "We are excited to be partnering with HOPE and investing in these Kentucky, Tennessee and Alabama communities."
Charter is also providing a grant in support of technical assistance for small business owners. The investment is expected to be combined with additional capital from other sources and to lead to the creation of hundreds of new jobs.
A number of state officials were in attendance for the announcement, held at the Norton Healthcare Sports and Learning Center, including Gov. Andy Beshear and Kentucky Senate President Robert Stivers.
“Investments in our people like the one Charter is making will help us ensure that everyone in Kentucky takes part in the amazing economic momentum we are seeing week after week,” the governor said. “Hope is the right name for this investment, as these funds help support the financially underserved by providing new opportunities that can ignite and sustain strong economic growth.”
So far, Charter has committed more than $18 million to support small and minority-owned businesses in underserved communities within their 41 state footprint.
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