The Progress Fund

The Progress Fund

SBA News Release

Today, the SBA put out a News Release, #25–51 that mentions The Progress Fund.  Disappointingly, their statements about us were false, and rather than praise us for the small business lending we do throughout rural Pennsylvania and West Virginia, they named us as a target for the Administration’s distain of lenders supporting environmental projects undertaken by small business owners.

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ASCEND Youngstown

Borrower Highlight:

We just have a really good relationship with The Progress Fund and Enterprise Bank.  We have two really good financial partners.  We’re working toward the same goals.  Why rock a boat that’s on a very good course?

Alex Bernstein, co-founder and director of finance and business development, ASCEND | Read the Success Story
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About Us

This remarkable region has a history of boom and rust. In 1997, we saw a new direction. Natural beauty, outdoor recreation, and small town charms could be the raw materials that revitalize communities through tourism.

We’ve provided financing and business coaching to help people like you to grow businesses and create jobs for the region. The results include better than 686 loans totaling more than $104.4 Million plus 6,235 created or retained jobs, and counting.

With help from foundation, state and federal sources, we’ve built a nonprofit Community Development Financial Institution capable of lending in Pennsylvania, West Virginia and Maryland.

Watch the video for an overview of The Progress Fund, some of our borrowers’ stories, and our partnerships (3 minutes):

Signposts:

  • We are a non-profit community development financial institution focused on new or expanding tourism businesses.
  • We serve Pennsylvania, West Virginia and Maryland.
  • We provide loans from $5,000 to over $1 million.
  • Business coaching comes with the loan.
  • We’ve financed accommodations, attractions, entertainment, farms, outdoor recreation, restaurants, retail, service business, wine and spirits makers and other small businesses.
  • We encourage job creation, historic preservation, diverse business ownership, local agriculture and trail-based development.