Bridgeway Capital

Lending by Bridgeway Capital benefited low-income people and assisted in the formation and growth of small businesses and nonprofit organizations in low- to moderate-income communities across 15 counties in western Pennsylvania and parts of northern west Virginia and eastern Ohio. 108 borrowers received loans totaling $25.4 million, which leveraged $39.2 million in additional financing. Borrowers ranged from entrepreneurs starting their first business to established businesses expanding operations and developing their job base, to non-profits providing critical social services and organizations focused on revitalizing distressed communities. The economic impact of this lending is projected to help create or retain 783 jobs.

Bridgeway Capital's programs team leads a number of efforts that serve a wide range of small businesses and nonprofit organizations. In fy23, Bridgeway provided support to 131 mission-aligned clients and facilitated support of an additional 53 businesses. The assistance came primarily in the form of one-on-one and cohort-based services. For example, Bridgeway executed a wide range of cohorts for varied emerging and established businesses. The alliance for creative rural economies (acre) cohorts served groups of creative entrepreneurs from wheeling, wv, johnstown, pa, greensburg, pa and new kensington, pa. While the building growth cohorts supported groups of emerging, black-owned construction businesses in and around erie, pa and pittsburgh, pa. for one-on-one business assistance, the entrepreneurship hub continued to deliver a high volume of guidance to lending prospects and current borrowers through a network of skilled consultants funded through an sba microloan ta grant.