The charitable arm of Cincinnati-based Fifth Third Bancorp (Nasdaq: FITB) has awarded a $100,000 grant to the Indy Chamber's Accelerate Indy program. The money will be directed toward the program's Entrepreneur Services division, which provides small business coaching and microloans, among other services.

Kevin Hipskind, president of the bank's greater Indiana region, announced the grant from the Fifth Third Foundation at the John H. Boner Community Center in Indianapolis, which is one of the locations where the Indy Chamber offers one-on-one business coaching, entrepreneurship classes and workshops. 

"We are committed to strengthening our communities," Hipskind said in a news release. "I can’t think of a better way to invest in the future of Indianapolis than to create more opportunities for our small businesses. This investment is a part of our ten year $30 billion commitment to the communities we serve across our footprint."

Indy Chamber Chief Executive Officer Michael Huber says Fifth Third recognizes the return-on-investment Accelerate Indy offers.

"Roughly 80% of our region’s new jobs are created by existing employers, so programs to support homegrown firms are more important than ever," said Huber. "Our efforts in education and programming for small businesses pay off in more successful start-ups and local companies growing, investing and hiring at a faster pace."

The Indy Chamber launched Accelerate Indy in 2016