Welcoming Felicity Williams to the Invest PGH Board: A New Chapter in Empowering Pittsburgh's Small Businesses
Invest PGH is thrilled to announce the addition of Felicity Williams, Deputy Chief of Staff for Mayor Ed Gainey, to our esteemed board of directors. With her impressive background in economic development and her unwavering dedication to community equity, Williams brings a wealth of expertise that will greatly benefit our organization and the small businesses we serve.
"Felicity Williams' appointment to the Invest PGH board is a testament to her commitment to supporting small businesses and driving economic development in Pittsburgh," remarked Rebecca Davidson-Wagner, Director of CDFI Investments. "Her expertise and dedication will undoubtedly enhance our efforts to empower entrepreneurs and foster economic growth in our communities."
"Felicity Williams' appointment to the Invest PGH board is a testament to her commitment to supporting small businesses and driving economic development in Pittsburgh," remarked Rebecca Davidson-Wagner, Director of CDFI Investments. "Her expertise and dedication will undoubtedly enhance our efforts to empower entrepreneurs and foster economic growth in our communities."
Williams' extensive experience in economic development, coupled with her passion for community equity, makes her an invaluable addition to our board. In her role as Deputy Chief of Staff, she oversees various teams within the Mayor's Office, including communications, workforce development, and financial empowerment. Her innovative approach to finding solutions and her deep understanding of the needs of small businesses will be instrumental in advancing our mission.
"I am deeply honored to join the board of Invest PGH and contribute to its mission of empowering entrepreneurs and driving economic growth in our city," said Felicity Williams. "Invest PGH plays a pivotal role in providing critical support to small businesses, and I am excited to collaborate with the board to advance its impactful work and ensure the continued prosperity of Pittsburgh's entrepreneurial ecosystem."
Invest PGH is dedicated to supporting small businesses, which are the backbone of Pittsburgh's economy. We are confident that Felicity Williams' contributions will help us further strengthen our support system for local entrepreneurs and make a lasting impact on our community.
Supporting Historically Disadvantaged Small Businesses: Introducing the HDBA ARPA Grant Program
In the wake of the ongoing challenges posed by the COVID-19 pandemic, historically disadvantaged small businesses in Pennsylvania are facing unprecedented economic hurdles. Recognizing the critical need for support, a new grant program has been established in partnership with the Pennsylvania Department of Community and Economic Development (PA-DCED) and funded by the American Rescue Plan Act (ARPA) of 2021. The HDBA ARPA Grant Program aims to provide vital assistance to these businesses, offering a lifeline during these challenging times.
In the wake of the ongoing challenges posed by the COVID-19 pandemic, historically disadvantaged small businesses in Pennsylvania are facing unprecedented economic hurdles. Recognizing the critical need for support, a new grant program has been established in partnership with the Pennsylvania Department of Community and Economic Development (PA-DCED) and funded by the American Rescue Plan Act (ARPA) of 2021. The HDBA ARPA Grant Program aims to provide vital assistance to these businesses, offering a lifeline during these challenging times.
Administered not by Invest PGH but through the Pennsylvania Community Development Financial Institutions (CDFI) Network, this grant program represents a collaborative effort to address the specific needs of small businesses owned by racial or ethnic minorities across the state. It's important to note that all inquiries and applications for this program should be directed to and through the PA CDFI Network.
The scope of the program is substantial, with a total of $10.5 million allocated for distribution. Each eligible business selected for the grant will receive up to $10,000 in support. With the goal of reaching historically disadvantaged small businesses in every corner of Pennsylvania, the program anticipates funding at least 1,000 businesses across all 67 counties.
Unlike some grant programs that operate on a first-come, first-served basis, the HDBA ARPA Grant Program takes a different approach. Applicants have a window of opportunity to submit preliminary applications from Monday, February 5 through Friday, February 23, 2024. During this time, interested businesses are encouraged to carefully review the program guidelines and FAQs available on the PA CDFI Network’s program landing page.
It's essential for potential applicants to familiarize themselves with the requirements and procedures outlined on the PA CDFI Network’s website before initiating the application process. This webpage serves as a comprehensive resource for eligible small businesses seeking assistance through the HDBA ARPA Grant Program.
Technical assistance will be readily available through the Support Center established specifically for this program. For access to this invaluable resource, please visit the PA CDFI Network’s landing page, where you'll find the necessary contact information.
Grant programs such as the HDBA ARPA Grant Program play a pivotal role in empowering historically disadvantaged small businesses across Pennsylvania. Together, we can navigate these challenging times and emerge stronger, more resilient, and more inclusive than ever before. Let’s work together to ensure that historically disadvantaged businesses receive the assistance they need to thrive.
Invest PGH: Empowering Communities, Igniting Growth in 2024
In the ever-changing landscape of economic challenges and opportunities, Invest PGH strives to provide hope for underserved persons and distressed communities in the heart of Pittsburgh. As we step into the new year, it's time to reflect on the impactful strides made in 2023 and look forward to the transformative initiatives that will shape Invest PGH's path in 2024.
In the ever-changing landscape of economic challenges and opportunities, Invest PGH strives to provide hope for underserved persons and distressed communities in the heart of Pittsburgh. As we step into the new year, it's time to reflect on the impactful strides made in 2023 and look forward to the transformative initiatives that will shape Invest PGH's path in 2024.
A Recap of 2023: Bridging Gaps, Igniting Dreams
2023 witnessed Invest PGH's unwavering commitment to its mission: promoting economic and community development opportunities. The lending statistics tell a compelling story of support provided to local businesses through Micro Loans, Accelerating Business Expansion Loans (ABEL), and Childcare Reinvestment Business Loans (CRiB).
The Micro Loans, totaling $224,000.00, were a lifeline for businesses like K&R Childcare LLC and Itsy Bitsy Learning Academy, showcasing the diversity and impact of Invest PGH's micro-enterprise support.
ABEL Loans, amounting to an impressive $1,687,000.00, propelled businesses such as River City Growers and Pittsburgh Musical Theater into new heights of expansion.
CRiB Loans, with a total investment of $301,000.00, empowered childcare-related ventures like A Home Away From Home Child Care and Davis Family Childcare.
Strategic Pillars Guiding Invest PGH: A Blueprint for Success
Invest PGH's strategic plan, crafted in response to the tumultuous economic backdrop, outlined five key areas of focus for 2023-2025. These pillars are not just words on paper; they're the driving force behind every decision and action taken by Invest PGH.
Telling Our Story Across Our Community: Invest PGH has been intentional in increasing visibility in underserved communities, forging deep relationships, and clarifying its distinctive offerings. Enhanced data collection and sophisticated social media strategies further amplify the impact and reach.
Expanding Capacity to Support Community Needs: The diversification of funds through private foundations and corporations has bolstered Invest PGH's financial arsenal, allowing for more robust support to microloans and emergency loans. The ongoing partnership with the URA in initiatives like Avenues of Hope remains pivotal.
Strengthening Our Customers' Ability to Compete: Invest PGH is not just a lender; it's an educator. Through collaboration with our partners, the organization is empowering its borrowers with the knowledge and resources to thrive.
Responding to the Economic and Business Climate: The creation of an emergency loan fund exemplifies Invest PGH's foresight, ensuring that businesses have the support they need in the face of unforeseen challenges. Tailored industry-specific loan programs, like CRiB, further demonstrate the adaptability to diverse economic landscapes.
Leveraging Impact Through Effective Partnerships: Collaboration is at the core of Invest PGH's strategy. Regular communication with partners, biannual forums, and networking events contribute to a dynamic ecosystem where support and resources flow seamlessly.
What to Expect in 2024: A Glimpse into the Future
As we turn the page to 2024, Invest PGH is poised to amplify its impact. Expect more intentional outreach, innovative programs tailored to evolving economic needs, and a continued dedication to creating a continuum of support through effective partnerships.
In the coming months, Invest PGH will continue to empower businesses with tools, support, and funding to not only survive but thrive in the post-pandemic era. With a solid foundation laid in 2023 and a strategic plan guiding every move, Invest PGH is not just an entity; it's a catalyst for positive change in Pittsburgh's economic landscape.
Stay tuned for success stories, program updates, and exciting collaborations as Invest PGH unfolds a new chapter of empowerment, growth, and community development in 2024. Together, let's build a brighter, more resilient Pittsburgh.