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The Progress Fund

The Progress Fund

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Home Borrowers Retail Confluence Cyclery

Confluence Cyclery

Location:

500 Hughart Street
Confluence, PA

County:

Somerset

Description:

Business Expansion

Total Project Cost:

$139,665

Visit Online:

confluencecyclery.com
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When we were renovating an old building and opening our bicycle shop, The Progress Fund was exceptionally helpful. They provided advice and access to business development loans that we were not aware of. They were friendly and dedicated to helping us be successful.

Brad & Maureen Smith, Co-owners, Confluence Cyclery,

People

A few days in Confluence convinced Maureen Smith that the town along the Youghiogheny River was where she and husband Brad should downshift from Washington, D.C.-area lives as a teacher and a Department of Defense manager. “He brought me here for a long weekend, and I said, ‘I love it. This is it,’” says Maureen.

Progress

The Smiths bought a 100-year-old former department store, and started restoring the 14,000-square-foot complex’s wood fixtures, brick facade, mezzanine and pre-Depression-era chandelier. Turning the second floor into two vacation rentals, though, would require capital. Through the Trail Town Program, they learned of The Progress Fund, which arranged a state First Industries Program loan of $50,000.

Impact

While preparing the rental space, the Smiths are selling, renting, repairing and accessorizing bikes, giving serious cyclists a pit stop and casual visitors a chance to try the trail. They’re directing customers to the area’s bed-and-breakfasts, restaurants, stores and campgrounds. The result: day trips turn into long weekends – like the one that left Maureen head-over-heels and resulted in two new residents and one growing business.

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Retail

Previous borrower Confluence House Bed & Breakfast
Next Borrower Connellsville Bed & Breakfast

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425 W Pittsburgh St
Greensburg, PA 15601-2211

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