Northside
Community Development Fund
Products and Services
Dedicated to a mission of providing financing and development services to promote community development, the Northside Community Development Fund provides an array of financial products and technical assistance services.
SBA Microloan Program
The Northside Fund has recently
received designation and funding as a Small Business Administration Microlender. Under this new program, the
Northside Fund will provide loans of up to $35,000 to start-up and emerging micro-enterprises located on
Pittsburgh’s Northside. Micro-enterprises are for-profit businesses with usually fewer than 10 employees.
Businesses can use loans for working capital, inventory, supplies, furniture, fixtures, machinery and
equipment. Funding cannot be used for down payment purposes, the purchase of real estate, or refinancing.
Bank participation is not required.
Day Care Financing
Using Federal funding, the Northside Fund can now
provide loans of up to $35,000 for non-profit and for-profit day care centers located on Pittsburgh’s
Northside. These fund can be used for start-up or expanding centers.
Business Financing
Loans of up to $100,000 are available for start-up or
expanding businesses. Eligible uses include:
- working capital;
- purchase order financing;
- purchase of inventory;
- acquisition of fixed assets;
- business acquisition;
- real estate acquisition, construction, repair, or modernization; and
- leasehold improvements.
Funds cannot be used for refinancing existing debt. Target borrowers are for-profit entities that:
- are located on the Northside;
- have less than 250 employees;
- demonstrate job creation potential; and
- are willing to hire income-eligible neighborhood residents to fill newly created jobs.
New Markets Tax Credits
As one of only 66 awardees in the nation, the
Northside Fund qualified for the New Market Tax Credit Program through the U.S. Department of Treasury.
This program permits tax payers to receive a credit against Federal income taxes for making Qualified
Equity Investments in Community Development Entities. Investors are credited 39 percent of their investment
over a seven-year period. Funds will be lent to qualifying Northside businesses.
Northside Supplier Network
Beyond lending, the Northside Fund provides
assistance through the Northside Supplier Network. The Northside Supplier Network is a clearinghouse for
businesses seeking to contract with Northside businesses. Through the Supplier Network, businesses can
identify bidding opportunities and purchase goods and services within the community.
Business Planning Assistance
In conjunction with the University of
Pittsburgh Small Business Development Center and the Business Information Center, the Northside Fund
provides assistance with the preparation of business plans.
Site Location Assistance
In conjunction with the Northside Leadership
Conference, the Northside Fund provides assistance with site location and expansion.
Development Assistance
The Northside Fund assists real estate developer
with financial packages to facilitate the renovation and construction of commercial buildings in major
corridors on Pittsburgh’s Northside.
