Plymouth Meeting-based lender New Penn Financial has become the first sponsor of the 2013 Philly Cycling Classic, Philadelphia's newly announced professional bike race.

Richard Adler, a founding board member of the new non-profit entity formed to operate the race, says he hopes the significant early investment will help attract more sponsors. 

Congressman Bob Brady, who facilitated the formation of the tream behind the new race, was quoted in a news release announcing the six-figure sponsorship: "Holding onto our traditions may not always be cheap and it may not be easy, but it is vital to our being the city we want to be — an international city with a world-class cycling race."

An announcement of the event's title sponsor and other levels of support is expected from Philly Cycling Classic leaders in the coming days.