The Kentucky Small Business Development Center (SBDC), in partnership with Southeast Kentucky Economic Development Corporation (SKED), proudly announces the receipt of a $300,000 grant from the Truist Charitable Trust Fund. This grant will bolster efforts to increase childcare service access for families with low to moderate income, mainly through the support of women-owned small businesses across Kentucky. 

The Kentucky SBDC Childcare Initiative, a statewide endeavor, seeks to harness the Kentucky SBDC's vast resources and expertise in conjunction with SKED’s established training framework. The objective is to devise and execute new programs promoting the growth and sustainability of childcare providers, enabling them to serve the commonwealth’s children more effectively. 

"We are excited to embark on the Kentucky SBDC Childcare Initiative in collaboration with SKED and Truist, a partnership addressing critical issues for childcare services throughout the state,” said Michelle Spriggs, center director for the Kentucky SBDC in Eastern Kentucky.  

“The generous grant from the Truist Charitable Fund propels us forward as we work to expand childcare spots, support aspiring childcare entrepreneurs, and elevate the quality of existing facilities. This initiative will foster a brighter future for Kentucky's small businesses supporting the commonwealth's children and families. We are excited to pioneer innovative programs that make a lasting economic impact in our state." 

This initiative is designed to work in concert with Kentucky’s key childcare stakeholders, such as Kentucky Youth Advocates, the Prichard Committee for Academic Excellence, Childcare Aware of Kentucky, and the Family Childcare Network of Kentucky. Through these collaborations, the initiative will strive to enhance the economic well-being of the commonwealth’s children and broaden the availability of essential childcare services. 

“The Kentucky SBDC is excited to work in partnership with the Southeast Kentucky Economic Development Corporation, through the Truist Charitable Trust Fund grant, to help benefit small businesses operating in the childcare sector across Kentucky,” said Kentucky SBDC state director Kristina Joyce “With this support, the Kentucky SBDC is committed to delivering targeted assistance to entrepreneurs in the childcare industry.”  

“We aim to provide them with the essential resources to help them grow and thrive. We recognize the critical role that childcare services play in our communities, supporting both working parents and early childhood development. Through this partnership, we are not only bolstering the childcare industry but also strengthening Kentucky’s economy through small businesses,” Joyce added. 

Efforts concentrate on augmenting the number of available childcare slots and assisting entrepreneurs in launching their childcare enterprises. Furthermore, the initiative is committed to elevating the caliber of existing childcare facilities. This is anticipated to lead to improved kindergarten readiness and provide substantial benefits to Kentucky’s children and their families. 

The Kentucky SBDC Childcare Initiative will extend myriad forms of assistance to childcare providers, including but not limited to: start-up support, financial management guidance, operations and compliance consulting, marketing and enrollment strategies, training and professional development programs, early childhood education resources, health and safety protocols and business skill enhancement services. 

SKED 

The Southeast Kentucky Economic Development Corporation (SKED) is a 37-year-old nonprofit Community Development Financial Institution that services 45 counties in Southern and Eastern Kentucky. A staff of 10 professionals works with business owners, small and large, to identify financing solutions funding their location, expansion, and working capital needs and provide them with the business counseling and training they need to succeed. 

Truist Charitable Fund 

The Truist Charitable Fund is a donor-based fund advised by Truist and administered by the Winston-Salem Foundation.  

The Truist Charitable Fund (TCF) is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives. TCF was established as a donor-advised fund and is administered by The Winston-Salem Foundation. TCF invests in local community organization — focusing on grants that support initiatives and programs in the areas of educational equity, leadership development, career pathways, small business and community services.

To learn more about Truist’s purpose, visit www.truist.com/who-we-are/about-truist. 

Kentucky SBDC 

The Kentucky Small Business Development Center (SBDC) has been assisting the commonwealth’s small business community for over 40 years. With centers statewide and an experienced and knowledgeable staff, the Kentucky SBDC provides unparalleled business coaching and training services at no cost to help existing business owners and potential entrepreneurs start, grow and succeed.  

Kentucky SBDC services include one-on-one business coaching, training workshops, access to market research, loan packaging help, assistance with financial projections and information needed to make informed business decisions.  

Kentucky SBDC is co-sponsored by the U.S. Small Business Administration and is administered by the University of Kentucky Martin-Gatton College of Agriculture, Food and Environment in partnership with regional academic institutions, economic development organizations, the private sector and the Commonwealth of Kentucky. 

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The Martin-Gatton College of Agriculture, Food and Environment is an Equal Opportunity Organization with respect to education and employment and authorization to provide research, education information and other services only to individuals and institutions that function without regard to economic or social status and will not discriminate on the basis of race, color, ethnic origin, national origin, creed, religion, political belief, sex, sexual orientation, gender identity, gender expression, pregnancy, marital status, genetic information, age, veteran status, physical or mental disability or reprisal or retaliation for prior civil rights activity. 

Kentucky SBDC is funded, in part, through a Cooperative Agreement with the U. S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of SBA.