Murtha announces $35,000 grant for Progress Fund
U.S. Rep. John Murtha (D-Johnstown) has announced the approval of a $35,000 grant from the Appalachian Regional Commission to the Progress Fund for economic-development efforts in Fayette, Westmoreland, Greene and Somerset counties. The Progress Fund is a community development financial institution (CDFI) that was created as a spin-off from the Southwestern Pennsylvania Heritage Preservation Commission, which Murtha created and funds. The main office is in Hollidaysburg, but last year the Progress Fund opened an office in Dawson to serve Fayette, Westmoreland and Somerset counties, and recently Murtha announced the expansion into Greene County.
“ARC funds last year enabled us to expand into the Dawson office,” said David A. Kahley, president and CEO of the Progress Fund. “This year, we’re excited that we can start working in Greene County, where we’ve now met with local officials and begun work on locating businesses that can use our services that the ARC grant supports.”
The Progress Fund lends money and provides technical assistance to businesses. The ARC money will enable the fund to provide up to 2,100 hours of technical assistance to 41 entrepreneurs and to develop 14 loans worth about $1 million that will create or retain 58 jobs.