PITTSBURGH — The Urban Redevelopment Authority of Pittsburgh (URA) announced today that Citizens Bank has made two $2.5 million investments dedicated to business loan programs for the city.
While one investment is directly to the URA itself as it continues to work to increase business lending in the city to help companies overcome the financial challenges of the pandemic, the other $2.5 million investment is to Invest PGH, a new community development financial institution affiliated with the URA. Invest PGH was launched last year out of the URA as a standalone entity that recently received its certification, seeking to provide funds through a micro-enterprise loan program as well as technical assistance for small businesses in the city.
Mark Rendulic, the Pittsburgh market president for Citizens, said: “Citizens is committed to helping small businesses, which are key employers and powerful economic engines. Our growing partnership with the URA aims to help support entrepreneurs, especially in underserved communities, and build a broader, stronger foundation for prosperity in Pittsburgh.”
Read more from our partners at The Pittsburgh Business Times.
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