Invest PGH Achieves State Accreditation as a Pennsylvania Development Bank Lender

Invest PGH is proud to announce its recent accreditation as a Pennsylvania Development Bank Lender. This certification was granted by the Pennsylvania Community Development Bank’s operational committee meeting last week.

“We are thrilled to have achieved this accreditation,” said Rebecca Davidson-Wagner, the president of Invest PGH. “It means that we will be able to continue to bring small business borrower capital to minority- and women-owned businesses in the City of Pittsburgh.” The accreditation also positions Invest PGH alongside other Community Development Financial Institutions (CDFIs) across the state, enhancing future lending opportunities.

This milestone comes after an impactful 2023. Last year, Invest PGH successfully closed 42 loans, amounting to a total investment of $2,212,000 in the Pittsburgh business ecosystem. This total spans three loan programs:

• ABEL (Accelerating Business Expansion Loan) loans accounted for 17 closings totaling $1,687,000.

• Micro (Micro-Enterprise Loan Program) loans accounted for 9 closings totaling $224,000.

• CRiB (Childcare Reinvestment Business Fund) loans accounted for 16 forgivable loans totaling $301,000 and supports the much-needed growth of childcare businesses in the City of Pittsburgh.

Invest PGH extends its gratitude to the Pennsylvania Community Development Bank for granting this accreditation, which will support our commitment to fostering economic development and growth in Pittsburgh. As we move forward, Invest PGH remains dedicated to serving local businesses and entrepreneurs, and to contributing to the economic vitality of our city.