Business site development
Ended Project Grant Awarded Last action
- Award ID
- ARC23C21117
- Recipient
-
Progress Fund UEI R9DJEBW2W5Q4
- Awarding agency
- Appalachian Regional Commission
- Obligated
- $2,128,046
Award facts
- Assistance listing
- 23.002 Appalachian Area Development
- Completion date
- Funding
-
- $621,994.00 Federal
- $1,506,052.00 Non-federal
- Place of performance
- Pennsylvania, USA
Award details come from USAspending.gov.
About this award
The Appalachian Regional Commission (ARC) awarded a $2,128,046.00 Project Grant on May 1, 2023 to the non-profit Progress Fund under the Appalachian Area Development (CFDA 23.002) federal grant program. This funding supports Progress Fund's work to provide loans, make equity investments, and deliver technical assistance to small businesses and organizations in economically distressed communities across Appalachia. As a certified Community Development Financial Institution, Progress Fund leverages federal grants to drive entrepreneurship, small business growth, and economic revitalization in underserved regions. The grant award will enable Progress Fund to expand its lending activity, finance business site development projects, and build organizational capacity to better address the capital needs of low-income communities.
Quick answers
Who received award ARC23C21117?
ARC23C21117 was awarded to Progress Fund by Appalachian Regional Commission on May 1, 2023.
How much is award ARC23C21117 worth?
$2,128,046 has been obligated on ARC23C21117: $621,994 in federal funding and $1,506,052 in non-federal funding.
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