The Progress Fund Small Business Loans
We lend off the beaten path.
You need capital to start and grow your small business. Getting that loan can seem difficult or impossible. Our borrowers tell a different story.
This remarkable region has a history of boom and rust. In 1997, The Progress Fund saw a new direction. Natural beauty, outdoor recreation, and small town charms could be the raw materials that revitalize communities through tourism.
The Progress Fund has provided financing and business coaching to help people like you to grow businesses and create jobs for the region. The results include better than 512 loans totaling more than $67.4 Million, plus 3,861 created or retained jobs, and counting.
With help from foundation, state and federal sources, we’ve built a nonprofit Community Development Financial Institution capable of lending in Pennsylvania, West Virginia and Maryland.
We are a non-profit community development financial institution focused on new or expanding tourism businesses serving Pennsylvania, West Virginia and Maryland. The Progress Fund provides financing from $20,000 to over $1 million to people who are starting, expanding or buying small businesses.
- Can be used to purchase property, restore and rehabilitate buildings, purchase inventory or equipment, buy the assets of an existing business, and for working capital.
- The interest rate is variable based on the risk of the project.
- Terms are typically five to fifteen years.
- An origination fee and various closing costs are charged.