Mon Valley Alliance awarded $750,000 in American Rescue Plan Funding

The Mon Valley Alliance has been awarded $750,000 in American Rescue Plan Funding through the State Small Business Credit Initiative (SSCBI).
The funding will be used to spur success and job creation opportunities in the mid-Mon Valley through non-traditional small business lending.
“I thank Gov. Tom Wolf and his administration for their continued support helping small businesses grow all over the state, and in particular the mid-Mon Valley,” said Jamie Colecchi, Mon Valley Alliance CEO. “With the addition of these funds, the alliance will be able to expand its lending capacity to help more businesses within the Mid Mon Valley Regional Enterprise Zone than ever before.”
Lending under this program is expected to begin Oct. 17, offering up to $50,000 to small businesses for development and expansion projects. These projects are focused on creating and retaining jobs within the 14 Mid Mon Valley Regional Enterprise Zone communities: Allenport, Carroll Township, Charleroi, Donora, Dunlevy, Fallowfield, Monongahela, Speers, West Brownsville, Belle Vernon, North Belle Vernon, Monessen and West Newton.
SSBCI provides a combined $10 billion to states, the District of Columbia, territories, and tribal governments to empower small businesses to access capital needed to invest in job-creating opportunities as the country emerges from the pandemic.
Project eligibility includes one-to-one matching funds from the applicant through equity or an additional funding source.
For more information and an application, visit www.monvalleyalliance.org/SSBCI.