Mon Valley Alliance awarded $750,000 for small business lending in the Mid Mon Valley REZ

Monongahela, PA, September 20th, 2022

 

Monongahela, PA, September 20th, 2022 - The Mon Valley Alliance, a Certified Economic Development Organization (CEDO), has been awarded $750,000 in American Rescue Plan Funding, through the State Small Business Credit Initiative (SSBCI) to spur success and job creation opportunities in the Mid Mon Valley through non-traditional small business lending.


“I thank Governor Tom Wolf and his Administration for their continued support helping small businesses grow all over the state, and in particular the Mid Mon Valley”, said Jamie Colecchi, CEO of the Alliance. “With the addition of these funds, the Alliance will be able to expand its lending capacity to help more businesses within the Mid Mon Valley Regional Enterprise Zone than ever before.”


Lending under this program is expected to begin on October 17, offering loans up to $50,000 to small businesses for development and expansion projects focused on creating and retaining jobs within the 14 Mid Mon Valley Regional Enterprise Zone communities: Allenport, Carroll Township, Charleroi, Donora, Dunlevy, Fallowfield, Monongahela, Speers, West Brownsville, Belle Vernon, Brownsville, North Belle Vernon, Monessen, and West Newton.


For more information on the Business Creation and Sustainability Loan Fund, please visit www.monvalleyalliance.org/ssbci for additional details and application.


For Additional Information:

Gov. Wolf: $246 Million Awarded to Support Small Businesses Across Pennsylvania