The Greater Berks Development Fund, an affiliate of the Greater Reading Chamber & Economic Development Corp., was recently awarded a $250,000 Pennsylvania Community Development Bank investment for minority-owned, women-owned, veteran-owned, disabled-owned and LGBT-owned businesses to grow.

The loans come from the Diverse Business Financing Initiative, which was recently approved by the state Department of Community and Economic Development.

The money will be used by the GRCEDC to relend to local diverse businesses in the Greater Reading region.

“The Greater Reading area is home to a growing population of minority entrepreneurs, especially from the Latino community,” GRCEDC President and CEO Randy Peers said in a press release. “Our goal to assist diverse businesses of all sizes to achieve long-term success. Through the GBDF, we expect to strategically deploy these funds in a way that maximizes growth potential for these minority-owned companies.”

This award adds to resources GRCEDC offers to businesses, including funding opportunities for diverse businesses, including small businesses.

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