Published by Post-Gazette Harrisburg Bureau;
It is announced by State Official on this Wednesday that “More than $6 million in federal funding will be going to Western Pennsylvania community development financial institutions to provide small business loans.”
U.S. Department of Treasury’s State Small Business will do the overall allocation $29.2 million to 12 organizations.
“Those dollars will help regional organizations to grant hundreds of loans, allowing businesses to create more than 6,850 new jobs“, said by the Secretary of Department of Community and Economic Development.
Further he said, “It’s a very efficient way to move money through to the private sector and these people are extremely good at leveraging the money”
About $2 million will go to Downtown-based Bridgeway Capital, will help to provide 510 loans to small businesses and create more than 2,000 jobs.
Bridgeway’s general counsel and vice president of development, said that “The difficulties of accessing capital have eased somewhat“.
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