Invest PGH Achieves State Accreditation as a Pennsylvania Development Bank Lender

The URA is proud to announce its partner Invest PGH received accreditation through the Pennsylvania Community Development Bank as a Pennsylvania Development Bank Lender.

Invest PGH is a nonprofit Community Development Financial Institution (CDFI) that offers loans to small businesses in Pittsburgh to promote local growth and economic development.

“We are thrilled to have achieved this accreditation,” said Rebecca Davidson-Wagner, 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 CDFIs across the state, enhancing future lending opportunities.

This milestone comes after an impactful 2023. Last year, Invest PGH successfully closed 42 loans, totaling $2,212,000 in investments in the Pittsburgh business ecosystem. InvestPGH administered this investment through three loan programs:

• Accelerating Business Expansion Loan Program (ABEL), which accounted for 17 closings totaling $1,687,000
  
  
• Micro-Enterprise Loan Program, which accounted for nine closings totaling $224,000
  
  
• Childcare Reinvestment Business Fund (CRiB), which accounted for 16 forgivable loans totaling $301,000 and supports the much-needed growth of childcare businesses in the City of Pittsburgh
  
  

The URA and Invest PGH extend gratitude to the Pennsylvania Community Development Bank for granting this accreditation, which will support the organizations’ commitment to fostering economic development and growth in Pittsburgh. Together, the URA and Invest PGH remain dedicated to serving local businesses and entrepreneurs, and to contributing to the economic vitality of the City of Pittsburgh.