There is a new mission-aligned partner in town: Bridgeway Capital.

Founded in 1990 in Pittsburgh after the collapse of the region’s steel industry, Bridgeway Capital seeks to combat injustices and advance opportunities in places that have been devastated by disinvestment and lack of viable jobs. They do this by providing loans and other financial services and supports to small businesses, nonprofits, community development corporations, and others working in low-income and under-resourced areas—the kinds of clients traditional banks may not serve because of the perceived risk.

Over the years, the nonprofit lender has expanded, opening additional offices in Western Pennsylvania. Bridgeway saw a need for its services in the Mahoning Valley and began to develop relationships with partners and potential clients. They have lent $2.7 million to nonprofits and small businesses in the Mahoning Valley to date and are growing (Wean Foundation grantee Inspiring Minds is a recipient). This past spring, Bridgeway opened a Mahoning Valley outpost, bringing on Angelo LoCastro as its office director.

LoCastro is a Youngstown native and a Youngstown State University graduate with more than 20 years of experience in the financial services industry, ranging from roles at smaller community banks to larger banks to credit unions, including seven years at 717 Credit Union. Bridgeway’s mission is what attracted him to the role.

“Too often, communities face barriers to accessing capital and resources for revitalization,” he said. “Bridgeway is a different kind of lender. I believe in the transformative power of its impact-driven lending.”

The size of loans Bridgeway provides varies but can range from smaller loans to multi-million-dollar loans. They focus on loans to nonprofits for real estate, facilities and projects that expand vital services; loans for real estate and affordable housing projects that create opportunities in underserved areas; and loans to small businesses for start-up and expansion.

Last year, Bridgeway received funding from the Wean Foundation to support its expansion into the Mahoning Valley and the development of its programs. One of those programs is MOBI, which stands for Minority-owned Business Incubator, but is also short for mobility. It’s a small business education program that brings together entrepreneurs and business owners at different stages of their development, helping them build up their professional networks. MOBI includes six months of programming and then business coaching support beyond that.

What sets MOBI apart from other entrepreneurship programs is it’s designed to respond to the unique needs of the local place, said Dawn Seckler, Bridgeway’s Chief Strategy and Development Officer.

Meeting the needs of the communities in which it operates is core to Bridgeway’s mission and its tailored approach to providing financing and business assistance.

Seckler says the Wean Foundation has been a key partner in its expansion.

“In addition to the funding they have provided us, the insight, the engagement, the conversations, the building of a trusting relationship has been equally important in our moving into the area thoughtfully,” she said. “The Wean Foundation and Bridgeway have a lot of mission alignment. We’re good for each other.”