By Sean P. Ray | Managing Editor

*Editor’s note: For the sake of transparency, the Neighborhood Community Development Fund is a partner organization with The Northside Chronicle.

The Neighborhood Community Development Fund (NCDF), a Northside non-profit specializing in loans to small businesses and real estate projects in Allegheny County, closed out another successful year with their annual Community & Business Luncheon on Nov. 22 at Rivers Casino.

The event was headlined by a speech from Rep. Summer Lee, the Democratic representative for Pennsylvania’s 12th congressional district which includes Pittsburgh, as well as speeches from NCDF officials and business owners who have worked with them.

The NCDF provides loans to small businesses, affordable housing and commercial real estate projects in low-to-moderate-income neighborhoods in Allegheny County. According to the impact report given by NCDF Resource Development Officer Andrew Cheeseboro, low-income-owned small businesses received 40% of the NCDF’s loans in 2023 , totaling a little more than $1.5 million.

The non-profit also has a particular focus on supporting historically disadvantaged businesses. In 2023, 80% of loans went to Black, Indigenous or person of color (BIPOC)- owned small businesses, and 39% went to women- owned small businesses. This equated to $4.7 million and $2 million in support, respectively.

On the real estate front, 11% of NCDF’s loans in 2023 went to affordable housing, coming out to $2.2 million in support.

“So that gives us an indication of what we mean by equity,” Cheeseboro said. “Everybody needs a fair shake. Everybody.”

In total, 103 loans were closed in 2023, totaling support of $5.8 million. A further 300 small business owners received technical assistance services from the NCDF.

NCDF Executive Director Mark Masterson emphasized the importance of teamwork in achieving this community support.

“None of this is possible without all of us working together with collaboration, dedication and passion,” Masterson said.

“Together we are building a stronger and more inclusive future,” he said later.

In her speech, Rep. Lee praised the NCDF for combating systemic discrimination, which she said has locked people out of wealth for years.

“NCDF”s success is measured not just in numbers but lives changed,” she said. “When NCDF steps in through back capital, you are supporting people that have been locked out for generations who want to create.”

Lee said NCDF provides support “where traditional banks fall short” and helps provide people with a “fair shot” at success.

Remarks were heard from three local business owners who were supported by NCDF. Specifically, the speakers were Andrea Jones, owner of A&D Royal Inc.; Karis Bowman, owner of California Coffee Bar; and Justin Strong, owner of Strong Day Cleaners.

Jones said the NCDF enabled her to expand her operations and create new positions.

Bowman shared how she initially was only working at California Coffee Bar as a barista to pay the bills when the owners approached her about purchasing the business.

“To go from barista to running the whole show… that wouldn’t have been possible without NCDF,” she said.

Strong spoke positively about his long-term relationship with NCDF, having been a client since 2002 and “three for three” on loans from the organization.

Recognitions were held for Former NCDF Board Member Margaret Eldridge and NCDF Loan Review Committee Member Ray Vargo, who both passed away in 2024.

The night concluded with a recognition for Masterson by U.S. Small Business Administration District Director Dr. Kelly Hunt, who said the NCDF has the highest number of loans and highest dollar amount of loans in the 27 counties in her district. The recognition named Masterson the microloan intermediary of the year for the district.

Masterson thanked the team at NCDF for making the achievement possible.

“It’s our assistant loan officers, it’s our director of operations and lending, it’s that whole team internally,” he said. “We work hard to try to get businesses the help that they need as quickly as we can.”