PA CDFI Network

PIDC used GRIT Fund dollars to provide a Bridge Loan to Custom Arts Studio LLC (“CAS”), a full-service fine art and design company in Philadelphia. In addition to offering custom painting, portrait, book cover art, and murals, the company offers high quality graphic and web design services to patrons, businesses and non-profits. Custom Arts Studio’s work has been collected by three museums, highly awarded, and recognized in the Arts and Culture community. The business is 100% woman- and black-owned by artist and creator, Keisha Whatley. Ms. Whatley also operates a small property management business under a sole proprietorship called Win Win Investments LLC.? ? In April 2021, PIDC provided a Commercial Mortgage Loan (CML) to Win Win Investments, LLC (“Win Win”), to purchase a 2,423 SF mixed-use vacant building. The project is known as @Germantown ArtHaus and its vision?is for?Germantown residents to have access to a community-centered cafe offering art and products made by local artists and small businesses, workshop and classroom space for arts and education classes, a coworking space for local entrepreneurs, a commercial space for rent for a small business or nonprofit, and a rental studio apartment.?PIDC loan proceeds were used for both acquisition and renovation costs including demolition, concrete, framing, plumbing and electrical work. ? Since closing her CML with PIDC, Ms. Whatley has been fundraising for the remaining renovations of Germantown ArtHaus and was awarded a Local Share Account-Philadelphia (LSA) grant in December 2023 through a related nonprofit, The Artist Bank Inc. Using PNC Bank Dollars raised through the GRIT Fund Program, PIDC financed a Bridge Loan to Win Win and The Artist Bank Inc (Co-borrowers) to cover the LSA grant. Reimbursement requests under the LSA program are typically paid within 2-3 months. The bridge loan will also have an Assignment of the LSA Grant Agreement, which will be available by closing. #communitydevelopment #blackbusiness #womeninbusiness #equitable #investment #capitalaccess #smallbusiness

PIDC used GRIT Fund dollars to provide a Bridge Loan to Custom Arts Studio LLC (“CAS”), a full-service fine art and design company in Philadelphia. In addition to offering custom painting, portrait, book cover art, and murals, the company offers high quality graphic and web design services to patrons, businesses and non-profits. Custom Arts Studio’s work has been collected by three museums, highly awarded, and recognized in the Arts and Culture community. The business is 100% woman- and black-owned by artist and creator, Keisha Whatley. Ms. Whatley also operates a small property management business under a sole proprietorship called Win Win Investments LLC.? ? In April 2021, PIDC provided a Commercial Mortgage Loan (CML) to Win Win Investments, LLC (“Win Win”), to purchase a 2,423 SF mixed-use vacant building. The project is known as @Germantown ArtHaus and its vision?is for?Germantown residents to have access to a community-centered cafe offering art and products made by local artists and small businesses, workshop and classroom space for arts and education classes, a coworking space for local entrepreneurs, a commercial space for rent for a small business or nonprofit, and a rental studio apartment.?PIDC loan proceeds were used for both acquisition and renovation costs including demolition, concrete, framing, plumbing and electrical work. ? Since closing her CML with PIDC, Ms. Whatley has been fundraising for the remaining renovations of Germantown ArtHaus and was awarded a Local Share Account-Philadelphia (LSA) grant in December 2023 through a related nonprofit, The Artist Bank Inc. Using PNC Bank Dollars raised through the GRIT Fund Program, PIDC financed a Bridge Loan to Win Win and The Artist Bank Inc (Co-borrowers) to cover the LSA grant. Reimbursement requests under the LSA program are typically paid within 2-3 months. The bridge loan will also have an Assignment of the LSA Grant Agreement, which will be available by closing. #communitydevelopment #blackbusiness #womeninbusiness #equitable #investment #capitalaccess #smallbusiness

PA CDFI Network members #cdfis participated in the Peer Learning gathering the Regional Foundation hosted at SACA Tec Centro in Lancaster, PA. Partner organizations attendees shared insights and dynamics about programs and their impact across the communities served, including a productive tour of Tec Centro’s trades educational programs. Fantastic work Jose R Lopez, Kevin Dow and your teams. #economicdevelopment #collaboration

Congratulations Amy C. Leichner. PA CDFI Network welcomes you to PIDC and to our #cdfi community.

PA CDFI Network members enjoyed learning, sharing knowledge and networking at the Opportunity Finance Network 40th annual conference. #OFN40 #cdfi The Progress Fund VestedIn Neighborhood Community Development Fund Entrepreneur Works Community First Fund Women's Opportunities Resource Center Impact Loan Fund Beech Capital Venture Corporation The Enterprise Center Capital Corporation PIDC

Great opening remarks today at Opportunity Finance Network’s 40th Anniverssary 2024 conference by amazing CDFI industry leaders making change across America’s low income communities closing the wealth gap through access to capital, affordable housing and equity. Congratulations to Harold Pettigrew, Jr. for the well deserved standing ovation from the 2,500 attendees. Thank you Donna Gambrell for continuing the fight. #cdfi #communitydevelopment

Leslie Benoliel Daniel Betancourt Mark Masterson Lynne Cutler Joan Brodhead Jim Burnett Ian Lawrence Jennifer Crowther Jodie H. Michele Clapper Karen Post David Kahley Dawn Seckler Jacob M. Sault, CPA Kareem E. Thomas Tiffany Canady, CPA Jaime Arroyo

Congratulations to Entrepreneur Works on celebrating 35 incredible years of empowering entrepreneurs and building strong communities! ?? Your dedication to supporting small businesses and driving economic growth in the Greater Philadelphia region has made a profound impact on countless lives, and last night’s celebration was a true testament to the hard work, resilience, and passion that continues to fuel your mission. Here’s to many more years of success! #Entrepreneurship #35YearsStrong #SmallBusiness

Today, PIDC announced that its CDFI subsidiary, PIDC Community Capital, has been awarded a $4 million grant from philanthropist MacKenzie Scott’s Foundation, Yield Giving. This unexpected gift is a testament to the vital work we do as Philadelphia’s public-private economic development corporation and reinforces our commitment to fostering inclusive economic growth, particularly in neighborhoods that have historically faced disinvestment. PIDC Community Capital builds sustainable neighborhoods, revitalizes business corridors, and supports business growth by making investments that create jobs, grow businesses, leverage outside capital, and provide goods and services to low-income communities throughout Philadelphia. This transformative funding will help us advance our mission, uplift underserved communities, and further strengthen Philadelphia’s economy. See the full press release below ??

Thank you PNC for hosting an incredibly rewarding 2024 Community Leadership Symposium. Learning about D&I efforts during time of uncertainty, finance trauma, climate action for equitable economic development, rental access and homeownership, and strategically increasing access to capital was rich. Thank you to Omar D. Joseph Meterchick and Nelson Acevedo for including me, to William Demchak, Richard K. Bynum Reymundo Oca?as, panelists and to the entire PNC team for making it a meaningful experience for PA CDFI Network and its members Neighborhood Community Development Fund Impact Loan Fund Community First Fund and Bridgeway Capital. #community #cdfi #accesstocapital