Standard Bank is a proud 2019 recipient of Pennsylvania Association of Community Bankers (PACB) IMPACT Award for the bank’s work for and support of PowerLink and the Standard Charitable Foundation. PACB holds banks that go above and beyond in their commitment to their community in the highest regard, and recognizes those members whose involvement in Pennsylvania’s towns surpasses traditional and expected business practices. The PACB IMPACT AWARDS program is designed to honor PACB members who impacted their communities in meaningful ways throughout 2019. PACB believes that every day and every month of community bank service should be recognized.
Entrants were recognized based on their IMPACT on the community:
Activities to ensure your
Community has a vibrant
Standard Bank and the Standard Charitable Foundation have joined forces with local leadership professionals to help PowerLink, originally based in Allegheny County (Pittsburgh), set up a new chapter in neighboring Westmoreland County.
The mission of PowerLink is to assist second-stage companies in growing their business and taking it to the next level with education and advisory resources. A “second-stage” company must have: been in business for two years, at least 1-2 employees, $250,000+ in gross annual revenue, and the intention of reaching $1M in gross annual revenue. PowerLink has helped more than 1,000 companies since 1992, and they continue to expand their footprint. New to Westmoreland County, PowerLink will be using the $4,000 grant from the Standard Charitable Foundation to extend program scholarships to local businesses that qualify.
PowerLink establishes boards to empower local businesses and surround their owners with a strong support advisory system. PowerLink requires a large network of business owners and volunteers to maintain a strong, healthy support system. With the vision and leadership from Standard Bank, scholarship funding from the Standard Charitable Foundation, and community resources from Saint Vincent College Small Business Development Center, PowerLink is now in the process of putting together the advisory board in Westmoreland County.
Standard Bank hopes this partnership will further support local businesses and the communities Standard Bank serves. Creating a rounded support system where everyone can network and help each other as part of the community bank mission that takes small business support to the next level, above and beyond banking.
With a proven track record, PowerLink companies grow 85% within three years of receiving an advisory board as well as a 37% increase in net income, 36% increase in full-time employees, and 75% increase in part-time employees. The success of these businesses contributes to the success of their local communities. Standard Bank is proud to be helping bring growth and support to Westmoreland County through the support of PowerLink. Development and growth of local businesses will continue to support the local economy for generations.