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Home Borrowers Retail Confluence Cyclery

Confluence Cyclery

Location:

500 Hughart Street
Confluence, PA

County:

Somerset

Description:

Business purchase loan

Total Project Cost:

$380,000

Visit Online:

confluencecyclery.com
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Everything was just super, super easy and clear. Easy peasy.

Peggy Miltenberger, co-owner, Confluence Cyclery

People

Peggy Miltenberger bought several homes in Confluence – one to live in, the others to rent out – and knew that the town’s economy depends on cyclists wheeling in from the Great Allegheny Passage.  “When I heard that the bike shop was for sale, I thought, oh no, if that becomes anything other than a bike shop, my investment is shot,” she says.  So Peggy, a real estate developer, bought the Confluence Cyclery.  She quickly realized that it could be even more of an economic crankset, but she’d need capital.

Progress

The shop’s prior owner and other locals told Peggy where to turn.  The Progress Fund loaned $130,000, giving her the flexibility to add e-commerce, expand the shop’s space and offerings, and start converting part of the property into a hostel.

Impact

E-bikes are opening cycling to more people and energizing trail-focused business.  Confluence Cyclery – now operated by Peggy’s son, Scott – gets at least half of its business from the rental, sale or maintenance of e-bikes, and the conversion of conventional cycles into electrics.  Retaining and enhancing the bike traffic preserves the restaurants, shops and hospitality businesses on which Confluence relies.  “This isn’t just a job,” says Peggy.  “This is a hobby, this is a passion, this is community commitment, to keep Confluence this gorgeous little town that it is.”

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Previous borrower Confluence House Bed & Breakfast
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