Recently, Bridgeway Capital received $4.4 million in new investments, with the largest investment coming from the BNY Mellon Community Development Corporation at $2 million. The capital will be injected directly into western Pennsylvania through Bridgeway Capital’s small business financing, positioning the organization to positively impact the regional economy in spite of tightening financial markets.

According to President Mark Peterson, Bridgeway Capital is continuing to lend capital to new and growing small businesses across the region. “In FY 2008 alone, we placed 60 loans to small businesses, injecting $8.7 million into the region,” said Mr. Peterson. “We’re seeing more lending opportunities every day, and we’re injecting $84 million in new capital over five years to meet these needs. It’s an aggressive plan, but we have concrete strategies to help us meet the needs of western Pennsylvania’s small businesses.”

In addition to the $2 million investment, Bridgeway Capital also received $1 million from the CDFI Fund of the U.S. Treasury Department and $1.35 million from the Pennsylvania Department of Community and Economic Development

“Our mission is to help make western Pennsylvania a thriving region for all,” said Mr. Peterson. “We appreciate the support of investors like BNY Mellon in helping us grow the entrepreneurial base and transform the regional economy.”