Community First Fund and Impact Harrisburg Launch New Loan Fund for Harrisburg Businesses
Harrisburg, PA (March 20, 2018) – This morning Community First Fund and Impact Harrisburg announced the launch of the Harrisburg Business Opportunity Fund, a new loan fund dedicated to supporting business and commercial development in the City of Harrisburg.
The program was unveiled at a press event held at the headquarters of the Pennsylvania Housing Financing Agency (PHFA) in Harrisburg. Daniel Betancourt, President and CEO of Community First Fund, Sheila Dow Ford, Executive Director of Impact Harrisburg, and Brian Hudson, Executive Director and CEO of the PHFA, spoke at the event.
Community First Fund, a regional nonprofit community development financial institution, approached Impact Harrisburg with the idea for this dedicated loan program last year. Both organizations collaborated to create a program that would support business and commercial development in the city’s disadvantaged neighborhoods. Ultimately, Community First received a $350,000 grant from Impact Harrisburg and a $650,000 grant from the PHFA, through its wholly-owned subsidiary the Commonwealth Cornerstone Group, to establish the Harrisburg Business Opportunity Fund. It is hoped that every dollar granted will leverage additional private and government investment, and provide more financing opportunities for Harrisburg business owners.
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