Founded in 1990, Bridgeway Capital is a CDFI that provides capital and business education to underserved markets to promote positive outcomes economically and socially, focusing specifically on small business, community service organizations, and enterprises that typically face the most difficulty in accessing conventional credit markets.  Their mission seeks to make western Pennsylvania a thriving region for all by promoting economic opportunity and community revitalization. Bridgeway Capital assists underserved populations by providing capital and education to ignite business and job growth, develop communities, support entrepreneurs and expand vital services that strengthen the region.

Bridgeway Capital uses its HFFI financing to respond to the demand for fresh fruits and vegetables by providing retailers the resources and expertise to grow projects in offering nutritious choices.  It assists stores to expand inventory to include healthy foods; renovate layout to sell healthy foods; upgrade equipment for improved stocking; upgrade displays for promotion; and learn to better manage healthy foods.

HFFI Projects & Impacts

• Bridgeway Capital helped owners of  52nd Street Market, established in 2014 in Lawrenceville, PA, to supply fresh locally sourced food to the residents of an underserved urban area in Pittsburgh.

• To date, Bridgeway has deployed $2.2 million in HFFI transactions across 12 borrowers. These transactions have leveraged an additional $14.7 million in funding and total nearly 590,000 square feet of new or renovated commercial space dedicated to healthy foods.
   
  • Butcher on Butler
  • Millvale Borough
  • Community Kitchen Pittsburgh
  • Water Sprout Farm
  • The Juice Jar
  • Health-a-licious
  • Gluten Free Goat
  • La Dorita Cooks
  • Churchview Farm
  • Juice PDLR d/b/a Reed&Co
  • Day La Soul Catering LLC
  • Safi Juice
  • Riverside Family Market
  • DeAnn Groceria
  • Economic Development South
  • 412 Food Rescue
     
• Bridgeway's pipeline of potential HFFI borrowers has been growing both in number and diversity of projects. An increased focus on developing relationships with partners and referral sources has led to new conversations and access to prospective clients we would not have otherwise uncovered. For example, we have broadened partnerships with other corner store initiatives active locally in an effort to better coordinate and scale resources. Our activities to date have included a mailer sent to all Allegheny County SNAP retailers with information about our individual programs. We are also co-hosting a small business resource fair specifically for food retailers. This increased visibility has already bolstered our pipeline.
   
• On the transaction level, Bridgeway has been learning from past and existing relationships with borrowers and practice partners. We have adjusted the terms of our products to increase their flexibility and better meet prospective borrowers' needs, and we have expanded our communications to reach farther and deeper into the communities we serve.
   
• Created 72 jobs

Source of money: HFFI CDFI-Financial Assistance Program; Fiscal year(s): 2014, 2015