Doyle Applauds CDFI Financial Assistance Awards for Pittsburgh
Washington, DC – November 19, 2019 – U.S. Representative Mike Doyle (PA-18) released the following statement regarding the Treasury Department’s Community Development Financial Institutions (CDFI) Fund awards for Fiscal Year 2019.
“The CDFI Fund is a real resource for economically disadvantaged communities – providing them with access to the capital investment necessary to revitalize their local economies, ” said Representative Doyle. “This funding will help to create small businesses and start community development projects that will improve the lives of underserved Americans. Bridgeway Capital Inc. and East End Food Coop FCU are helping low-income households across our region. I’ve always supported CDFI Programs, and it’s great to see that funding helping Pittsburghers.”
Community Development Financial Institutions (CDFIs) specialize in providing affordable financial products and services for underserved individuals and communities. The Treasury Department’s CDFI Financial Assistance Awards provide CDFIs with funding and training to meet the unique needs of their communities. By investing federal resources matched with private funding, the CDFI Financial Assistance Awards encourage small business owners and innovators to serve low-income Americans.
The Treasury Department awarded a grant of $1,600,000 to Bridgeway Capital Inc., which provides funding and assistance to minority entrepreneurs in Pittsburgh. It also awarded a grant of $100,000 to East End Food Coop FCU, which provides financial services to low-income members in Allegheny and Westmoreland Counties.
For more information about the CDFI Program’s impact data for Pennsylvania, visit https://www.cdfifund.gov/awards/state-awards/Pages/state-result.aspx?state=PA&Name=Pennsylvania.