U.S. Sen. Bob Casey announced today that Pennsylvania organizations have secured $8.6 million in federal grant money. Philadelphia institutions obtained $5.5 million of that allocation.
“This will help communities across the state to make loans and provide opportunities to both access capital and create jobs,” said Casey.
The grants will go to organizations such as community development banks, credit unions, and small-scale venture-capital firms. Pennsylvania received the third highest amount of federal funding in the nation.