Pittsburgh, Pa.—Bridgeway Capital’s Emerging Opportunities Financing program offers resources and expertise to help improve overall economic conditions in underserved areas through community development projects.
Bridgeway Chief Lending Officer, Dwayne Rankin, stated that “Bridgeway’s strategic goal is to invest $100 million into low- and moderate-income communities by 2020. Through place based community development funding we promote healthy and thriving neighborhoods.”
A number of solutions are offered through the Emerging Opportunities Financing program:
•Predevelopment grants to research market conditions, explore project feasibility and create design infrastructure
•Equity investments to attract additional investments
•Subordinate loans to ensure that projects continue without delay and obtain next stage financing
•Predevelopment loans to residential, commercial and mixed-use development projects to fund early stage costs
•Larger investments of capital by Bridgeway’s regional partners to support projects with a high potential for community impact