“If we wanted to grow the industry, we needed to start our own bank to fund a new wave of rural-based tourism businesses,” he recalls. “In 1997, Karen Post, the other co-founder, and I started The Progress Fund to make those loans. In essence, we took on the mission to grow this industry one business at a time.”
Since then, The Progress Fund, based in Greensburg, has made 455 loans totaling $56.5 million to 276 small businesses including restaurants, outdoor outfitters, campgrounds, B&Bs, farms, wineries and distilleries. The Fund has also expanded its mission to support local food producers, trails and related real estate initiatives in order to maximize tourism opportunities. Read more.