NEPA Alliance Business Finance Center, a subsidiary of NEPA Alliance, has received approval from the U.S. Small Business Administration to become a designated Community Advantage Pilot Loan Program lender.

NEPA Alliance Business Finance Center, a subsidiary of NEPA Alliance, has received approval from the U.S. Small Business Administration to become a designated Community Advantage Pilot Loan Program lender for small businesses located in Pennsylvania.

The Community Advantage program provides increased access to credit for small businesses located in underserved markets, by expanding access to the SBA 7(a) Loan Program. The SBA 7(a) Loan Program allows nontraditional, mission-oriented lenders to participate and helps them manage portfolio risk.

As a Community Advantage Lender, NEPA BFC will fill an important gap in programmatic funding to underserved markets in the NEPA Alliance region and throughout Pennsylvania.

“We want to thank SBA for their confidence in NEPA Alliance and our Business Finance Corporation to expand our SBA programming in Northeastern Pennsylvania,” commented Jeffrey Box, President & CEO of NEPA Alliance.

“NEPA Alliance Business Finance Corporation is very excited by the designation from SBA to become a Community Advantage Pilot Loan Program Lender,” said Steve Ursich, executive director NEPA Alliance Business Finance Corporation.

“It is consistent with our mission to provide a full line of business lending programs to support economic development in our region and will allow us to help businesses that are in need of credit in underserved markets.”

NEPA Alliance and the NEPA BFC expects to have the program fully operational in the second quarter of 2023.

The NEPA Alliance, a regional community and economic development agency, serves the seven counties of Northeastern Pennsylvania including Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuylkill and Wayne.

NEPA Alliance services include federal and state grant assistance, business financing, government contracting assistance, international trade assistance, nonprofit assistance, transportation planning and research and information. Visit www.nepa-alliance.org or call 866-758-1929.