Growing Communities: Homewood Station Project

Development in Homewood is happening. 

The new $11.5 million mixed-use development project "Homewood Station" broke ground in mid-December. It will be a four-story building with 41 residential apartments for seniors, a ground-floor commercial space for businesses, and a café.  Bridgeway Capital helped finance this project as part of our community development initiative to help revitalize low-income communities. Read more about the project's groundbreaking on our website or in the New Pittsburgh Courier.  

Highlights: Newsworthy and Noteworthy

• East Coast Chair & Bar Stool wrote an article featured in Restaurant Hospitality Magazine.  The company is a national hospitality furniture e-commerce retailer and distributor located in Mercer, PA. Incorporated in 2007, East Coast Chair & Bar Stool recently needed financing to expand into a 48,000 sq. foot warehouse.   

• Allen Place Community Services, a nonprofit located in the North Side of Pittsburgh, recently received a $5,000 grant from Highmark Blue Cross Blue Shield to help fund a stroke support program.  The organization provides health and wellness programs for seniors, young adults and children. 

• Simpatico Espresso was highlighted by the Post-Gazette for its delicious, healthy kale smoothie and its  new high-tech, single cup coffee maker, the Trifecta (one of only two such machines in western PA). Located in the Regional Enterprise Tower in downtown Pittsburgh, the company has been open since 2006 and received start-up financing from Bridgeway Capital.

• Happy 5th Birthday K9 Kingdom!  Located in Wexford, this pet care business received a loan from Bridgeway Capital in its first year for equipment and renovations.  To celebrate its birthday, the company is giving a portion of proceeds from the dog wash and dog park to Beverly's Birthdays. Also, every visit to daycare includes a $25 credit toward a pet photography session.    

Impact in Erie: One Year Later!

They say time flies when you're having fun, right?  One year ago in March on a bitterly cold day, we officially opened our first satellite office on State Street in Erie to better serve businesses and nonprofits in northwestern Pennsylvania.  After a warm welcome from the community, we spent the year establishing ourselves in the market, building relationships, forming partnerships and financing businesses.  Some of the highlights are below:

• $1.68 million in loans to start-up, established and growing businesses.
• Expanded our SBA microlending territory to 
  6 additional counties in northwestern PA, opening up more financing options for small businesses. 
• 504 loan approved for new construction on an extended-stay hotel providing modern, eco-conscious accommodations for travelers.
• Received a $10,000 technical assistance grant from PNC Bank to provide education services to business owners in the Erie region.

Featured: Green Cheeks Diaper Service

Green Cheeks Diaper Service was started in 2010 by Judy and Brandon McAuley to offer organic cloth diaper delivery, pick-up, and cleaning services. The business provides Pittsburgh parents with the environmental, financial, and health benefits of using cloth diapers. With financing from Bridgeway Capital, the company was able to purchase industrial washers and dryers as well as other supplies.  

Welcome Bridgeway Capital Borrowers

• A warm welcome to our new borrowers: Natoli's Market, Shiloh Community Missionary Baptist Church, Viking Woodworking, Children's Sickle Cell Foundation, Good Brothers Services, LFaulk General Contracting, Betsy Ann Chocolates, ecOasis Salon, HairBiz, North Side Christian Health Center, Caring Heart Companions, Greco Steel Products, Grace Security, Secco Designs, Pennie's Bake Shop, and Penn's Colony Association.