Vandergrift’s VIP module along with First Commonwealth Bank and Penn State Cooperative will try financial assistance and preparation for a precinct and internal businesses during a open assembly Friday during a precinct building.
First Commonwealth and Penn State Extensions’ Smart Growth Program will see if Vandergrift Borough and internal businesses can advantage by a sovereign Community Reinvestment Act (CRA) of 1977. Among other things, a module encourages banks to work with low-income communities with financing.
“This could assistance existent businesses and to move new businesses,” pronounced Marilee Kessler, authority of a classification cabinet of VIP.
The assembly starts during 2 p.m.
First Commonwealth Bank will move in experts in CRA, tiny business preparation and resources including loan programs, according to Patrick Thomas, financial solutions core manager for First Commonwealth Bank in New Alexandria.
John Turack, a village growth partner for Penn State Extension in Greensburg, pronounced a assembly will “assess a needs of a village and a businesses.”
Given Vandergrift’s abounding history, trends and demographics, a city is staid to be reinvented, according to Turack.
“We’re looking to build a ability of business owners and residents to take what they have and improved implement them,” he said.
As a CRA module facilities a bank charity assistance, a reinvestment in a village will be a “private and nonprofit sectors doing a work,” Turack added.