Young Scholars is in a growth spurt. In 2015, the charter school first opened in a building rented from the St. Nicholas Byzantine Church in McKeesport, outside of Pittsburgh. They served grades K-5. In the 2017-18 school year they added a 6th grade and soon after 7th and 8th grades. In 2021, they relocated to their new campus on Center Avenue in nearby Versailles, offering enhanced facilities and opportunities to continue their growth.
With growth came the need for more science and art classrooms, a larger lunchroom and gymnasium to expand sports programs.
Young Scholars of Greater Allegheny approached Enterprise Bank, headquartered in Allison Park, for a large expansion loan. Enterprise liked the idea and asked The Progress Fund to participate in the full $4.7 Million loan.
Young Scholars had done their homework well. We agreed and gave them an A+ for effort and agreed to provide $1 Million of the financing needed to give their students the best possible start.
Good for them, and the kids!
Related Borrower
Young Scholars of Greater Allegheny
It was a good alignment because you are financing projects in communities that create opportunities, like jobs and education. That was part of your mission, so what we do aligns with what you do.
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