URA and FNB Partner to Provide $1 Million to Support Avenues of Hope Small Contractor Program
PITTSBURGH, PA (June 17, 2021) First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), is providing a generous $1 million capital investment to the Urban Redevelopment Authority (URA) to help support small contractors in the Hill District through the new Avenues of Hope Small Contractor Line of Credit program.
Mayor William Peduto and the URA launched Avenues of Hope in October to reprioritize business district investments in diverse city neighborhoods. Through the new Small Contractor Line of Credit program, lines of credit of up to $100,000 will be available. This will be the first line of credit program offered through the URA, and will give the agency a valuable new tool to support small contractors seeking to improve struggling neighborhood business districts.
“FNB is pleased to support the URA and its Avenues of Hope program as part of our continuing commitment to promote small business growth in our communities,” said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank.
The URA board is set to approve FNB’s investment in the program at its meeting today.