The Progress Fund
The Progress Fund is a nonprofit CDFI headquartered in Greensburg, Pennsylvania that originates $20,000 to $1,000,000+ small business loans and coaching services to tourism-focused SMBs along the Great Allegheny Passage trail corridor in PA, MD, and WV.
- Company typePrivate
- Founded2007
- HeadquartersGreensburg, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What The Progress Fund does
The Progress Fund is a Pennsylvania-based nonprofit community development financial institution (CDFI) headquartered in Greensburg that originates small business loans ranging from $20,000 to over $1,000,000 to entrepreneurs in the tourism sector. Its primary segments are restaurants, accommodations, attractions, outdoor recreation, local foods, wineries/breweries/distilleries, and retail businesses that serve travelers—particularly along the Great Allegheny Passage trail system in Western Pennsylvania and adjacent counties in Maryland and West Virginia. The Fund does not operate a software product; its underlying capability is underwriting and business-coaching expertise delivered by a 1–10 person staff, supplemented by referrals and co-lenders including Enterprise Bank, the U.S. Small Business Administration, the Pennsylvania First Industries Fund, the Pennsylvania Small Business Credit Initiative (PSBCI), and at least seven Pennsylvania Small Business Development Centers.
The Fund earns revenue principally through interest on its originated loan portfolio, supplemented by program service revenue and grant capital from state, federal, and foundation sources (notably a $4.05M CDFI Fund award dated April 10, 2023). Pricing is not rate-card based; each loan is customized to the borrower's cash-flow profile, often with seasonal payment structures for tourism businesses whose revenue fluctuates across the year. Go-to-market is sales-led and direct: the Fund markets through its website (progressfund.org), an email newsletter, Facebook/LinkedIn/Instagram, SBDC referral partners, and community/economic-development events, then originates loans in-house without intermediaries. Customer acquisition draws heavily on prior-borrower testimonials and SBDC introductions rather than paid acquisition.
Beyond lending, the Fund performs community-development real-estate work—most notably the 2014 development of the Hazelwood Brew House—and pairs its loans with free or low-cost business coaching, a "Get Loan Ready" resource program, and application support. The organization is led by President & CEO David Kahley and is governed by an independent Board of Directors, with no parent company or subsidiaries disclosed in available data.
The Progress Fund firmographics
Firmographics- Name
- The Progress Fund
- Legal name
- The Progress Fund
- Website
- https://progressfund.org
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- The Progress Fund is a nonprofit CDFI headquartered in Greensburg, Pennsylvania that originates $20,000 to $1,000,000+ small business loans and coaching services to tourism-focused SMBs along the Great Allegheny Passage trail corridor in PA, MD, and WV.
- Ownership category
- akta.pro rank
The Progress Fund industry classification
Industry- Product category
- Community Development Lending
- NAICS
- Other Grantmaking and Giving Services (813219)
- SIC
- Federal & Federally-Sponsored Credit Agencies (6111), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)
- akta.pro secondary industries
- National/Regional Development Finance Institutions (DFIs) (FSABAKAB), Development Finance, Guarantees & Blended Finance Programs (BPADABAM)
Keywords
Where The Progress Fund is headquartered
LocationHeadquarters
- HQ city
- Greensburg
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
The Progress Fund business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Loan Interest Revenue: The Progress Fund generates revenue through interest on small business loans ranging from $20,000 to over $1,000,000. As a nonprofit community development organization, they provide financing to tourism and small businesses that may not qualify for traditional bank financing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Small business loans from $20,000 to over $1,000,000 |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
The Progress Fund product offering
Product offeringCore offering
The Progress Fund is a nonprofit community development financial institution (CDFI) that provides small business loans ranging from $20,000 to over $1,000,000 to tourism-related businesses across Pennsylvania and neighboring regions. Loans feature flexible terms that accommodate seasonal cash flows and are accompanied by business coaching and technical assistance to support borrower success.
Product overview
The Progress Fund is a nonprofit organization offering a single unified product: small business loans ranging from $20,000 to over $1,000,000 for tourism-related businesses. The organization provides financing and business coaching to help people start, expand, or buy small businesses in the tourism sector. Their lending portfolio is organized across borrower categories including Accommodations, Attractions & Entertainment, Local Foods, Manufacturers, Outdoor Recreation, Restaurants, Retail, Schools, Services, and Wine, Beer & Spirits.
Differentiator
Problem solved
Functional benefit
Products and services
- Small Business Loans Loans ranging from $20,000 to over $1,000,000 for tourism-related small businesses, with flexible terms designed to accommodate seasonal cash flows and lower down payment requirements. Includes combined financing structures and is targeted at entrepreneurs whose businesses are typically declined by traditional banks.
- Business Coaching Technical assistance and coaching service provided to loan borrowers and tourism-related small business owners to help grow their businesses and successfully manage loan obligations.
Companies that use The Progress Fund
Customer profileNamed customers5 records
Segments2 records
Ideal customer profiles1 record
The Progress Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The Progress Fund partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and supporting.
- Pennsylvania Small Business Development Centers (SBDC) NetworkcoreThe Progress Fund partners with multiple SBDCs including Pennsylvania Statewide SBDC, Chatham University's Center for Women's Entrepreneurship, Clarion University SBDC, Gannon University SBDC, St. Vincent College SBDC, St. Francis University SBDC, and University of Pittsburgh SBDC to provide training, coaching, and business planning support to borrowers.
- North Central Pennsylvania Regional Planning and Development CommissionsupportingRegional planning commission has worked with The Progress Fund on projects including Appalachian Arts Studio and Museum and Kane Manor Inn.
Scale indicators2 records
Recent moves6 records
Expansion highlights4 records
The Progress Fund competitors and assessment
Company assessmentDirect peers
- Mountain Association: A Eastern Kentucky-based nonprofit community development organization providing loans and technical assistance to small businesses in Appalachian communities. Directly comparable nonprofit CDFI lending and coaching model to underserved rural entrepreneurs.
- Invest Appalachia: An impact-investing platform focused on community development capital across the Appalachian region. Highly comparable geographically (PA-adjacent), mission-wise, and as a deployer of blended federal, foundation, and private capital to underserved communities.
- Community First Fund: A Lancaster, PA-based nonprofit CDFI providing small business loans, microloans, and coaching to underserved entrepreneurs in Pennsylvania. Closely comparable CDFI structure, geographic base, and SMB lending/coaching model.
- Coastal Enterprises Inc. (CEI): A Maine-based nonprofit CDFI providing small business loans, technical assistance, and community development financing in rural regions. Highly comparable business model focused on underserved rural/tourism-adjacent economies.
- Bridgeway Capital: A Pittsburgh-based CDFI providing loans and business coaching to small businesses in Southwestern Pennsylvania. Highly comparable to The Progress Fund given overlapping geography, similar nonprofit CDFI structure, and focus on underserved SMB borrowers.
- Natural Capital Investment Fund: A CDFI focused on rural Appalachian and Mid-Atlantic small business lending for natural resource-based and tourism-related enterprises. Comparable rural/tourism SMB lending specialization and nonprofit structure.
- Appalachian Community Capital (ACC): A CDFI intermediary serving Appalachian small businesses and lenders across 13 states including Pennsylvania. Comparable mission of deploying capital to rural trail and tourism economies via CDFI capitalization.
Broad incumbents
- TruFund Financial Services: A national nonprofit CDFI providing small business loans and capacity-building in underserved communities across multiple states. Comparable small business focus and blended public/philanthropic capital base, though broader geographic scope.
- The Reinvestment Fund: A larger Mid-Atlantic CDFI based in Philadelphia that deploys capital for community development, including small business, housing, and food-oriented enterprises. Comparable on mission, CDFI funding model, and Pennsylvania footprint, though much larger and more diversified.
- Self-Help Credit Union: A CDFI-certified credit union providing small business and community development lending primarily in the Southeast and Mid-Atlantic. Comparable mission and community development focus, though broader retail/banking operation alongside lending.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
The Progress Fund social profiles
Digital presenceThe Progress Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Progress Fund leadership team
Management profileNumber of profiles
Profiles1 record
The Progress Fund funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Progress Fund M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Progress Fund
What does The Progress Fund do?
The Progress Fund is a nonprofit community development financial institution (CDFI) that provides small business loans ranging from $20,000 to over $1,000,000 to tourism-related businesses across Pennsylvania and neighboring regions. Loans feature flexible terms that accommodate seasonal cash flows and are accompanied by business coaching and technical assistance to support borrower success.
Is The Progress Fund a public or private company?
The Progress Fund is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was The Progress Fund founded?
The Progress Fund was founded in 2007. It employs 1 to 10 people.
Where is The Progress Fund based?
The Progress Fund is headquartered in Greensburg, United States, in the North America region.
How does The Progress Fund make money?
One revenue line is on record: loan Interest Revenue.
Who are The Progress Fund's main competitors?
Direct peers on record are Mountain Association, Invest Appalachia, Community First Fund, Coastal Enterprises Inc. (CEI), Bridgeway Capital, Natural Capital Investment Fund and Appalachian Community Capital (ACC). Broad incumbents are TruFund Financial Services, The Reinvestment Fund and Self-Help Credit Union.
Does The Progress Fund have an API?
No public API is recorded for The Progress Fund.
What industry is The Progress Fund in?
The Progress Fund's product category is Community Development Lending. Its primary akta.pro industry code is BPAGALAA, Impact Investing & Social Finance (Funds, CDFIs, Microfinance), with a secondary code of FSABAKAB, National/Regional Development Finance Institutions (DFIs). Its NAICS code is 813219 and its SIC code is 6111.