Local Leaders Testify Before the Kentucky General Assembly's Statutory Committee Commission on Race and Access to Opportunity

Larry Forester, Senior Vice President and Commercial Banking Officer at Forcht Bank, and Tyrone Tyra, Senior Vice President of Community & Minority Business Development at Commerce Lexington, recently testified before the Kentucky General Assembly's Statutory Committee Commission on Race and Access to Opportunity. Together, they highlighted challenges and opportunities facing minority-owned businesses in the 9-county region, with a particular focus on the need for assistance with access to capital and meaningful business connections.

Forester and Tyra also highlighted Commerce Lexington’s commitment to fostering an inclusive business environment where all entrepreneurs, regardless of business size, background, or industry, have the opportunity to thrive.

In his testimony, Tyra provided legislators with an overview of specific programs led by Commerce Lexington to help address these challenges, including the Access Loan Program.

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Designed specifically to enhance business development, sustainability, and growth, the Access Loan Program connects entrepreneurs with a network of 26 participating lenders. These financial and nonprofit institutions collaborate to offer flexible lending solutions tailored to meet the diverse needs of business owners. More than just a financial tool, the Access Loan Program is a gateway to mentorship, community engagement, continued education, and other resources to address the key challenges for small businesses.

Since 2001, the Access Loan Program has facilitated over $25 million in approved loans for small business startups and expansions, with partnerships extending to 19 counties and over 26 participating lenders. Tyra also highlighted Commerce Lexington’s leadership in managing LFUCG’s Small Business Economic Recovery programs in 2020 and 2021, distributing about $6.9 million in grants to local small, minority-owned, and women-owned businesses.

Commerce Lexington is proud to be a catalyst for economic empowerment. Through programs like the Access Loan Program, the chamber provides the resources and support that businesses need to grow, compete, and contribute meaningfully to our region’s economy.

As Tyra stated during his testimony, “We are here to help businesses get on the path they envision for themselves and to stay with them every step of the way.”
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If you or your business is interested in getting involved or learning more about the work being done in Community and Minority Business Development at Commerce Lexington, click here.  ​