PHOTO: SHUTTERSTOCK

Bridgeway Capital, a local investment company and nonprofit lender, has announced two accelerators that aim to help Black-owned businesses and developers succeed by providing training in finance and real estate.

The two programs, the Emerging Developer Accelerator and Emerging Contractor Accelerator, focus on managing properties and large-scale construction projects, respectively. They both fall under Bridgeway’s Building Inclusive Development program, aiming to “maximize equity and impact in real estate and set more clients up for success.” 

“Lower revenue results in lower profit margins and less access to capital,” Roderick Ramsey III, senior programs manager, said in a statement. The “program aims to maximize opportunities and impact for Black-owned businesses in the real estate development economy.” 

Bridgeway Capital, with offices Downtown and in Homewood, Uniontown and Erie, has funded more than $250 million across the region since 1990, lending mainly to underserved and low-income areas. Its mission focuses on fostering relationships that bring about positive changes in communities. 

Both programs will offer up to seven participants more than 40 hours of training, one-on-one coaching, a certificate of completion and three months of post-graduation support. Applicants must complete assignments, coursework and attend virtual and in-person sessions.

Here are details about the two programs: 

Emerging Developer Accelerator

Black-owned small businesses with a commercial real estate portfolio valued under $500,000 are eligible to apply. An information session will be held on Tuesday, Jan. 16, from 5:30 to 6:30 p.m. at the Sarah B. Campbell Enterprise Center, 7800 Susquehanna St., Homewood.

Emerging Contractor Accelerator

Applicants with businesses established before 2022 with annual gross revenue below $250,000 and average construction contracts below $100,000 can apply. An information session will be held on Wednesday, Jan. 17 from 5:30 to 6:30 p.m. at the Wilkinsburg Train station at 901 Hay St. 

Those interested can visit here for more information as well as info session registration and program application.