diff --git a/crc/models/study.py b/crc/models/study.py
index e0eb6689..b0581cd6 100644
--- a/crc/models/study.py
+++ b/crc/models/study.py
@@ -34,6 +34,7 @@ class ProgressStatus(enum.Enum):
     disapproved = 'disapproved'
     ready_for_pre_review = 'ready_for_pre_review'
     resubmitted_for_pre_review = 'resubmitted_for_pre_review'
+    finance_in_progress = 'finance_in_progress'
 
 
 class IrbStatus(enum.Enum):
diff --git a/migrations/versions/95ac80a50657_new_progressstatus_status.py b/migrations/versions/95ac80a50657_new_progressstatus_status.py
new file mode 100644
index 00000000..4d113e59
--- /dev/null
+++ b/migrations/versions/95ac80a50657_new_progressstatus_status.py
@@ -0,0 +1,32 @@
+"""New ProgressStatus status
+
+Revision ID: 95ac80a50657
+Revises: cedd03c24166
+Create Date: 2022-04-26 12:43:21.656859
+
+"""
+from alembic import op
+import sqlalchemy as sa
+
+
+# revision identifiers, used by Alembic.
+revision = '95ac80a50657'
+down_revision = 'cedd03c24166'
+branch_labels = None
+depends_on = None
+
+
+def upgrade():
+    op.execute("ALTER TYPE progressstatus RENAME TO progressstatus_old")
+    op.execute("CREATE TYPE progressstatus AS ENUM('in_progress', 'submitted_for_pre_review', 'in_pre_review', 'returned_from_pre_review', 'pre_review_complete', 'agenda_date_set', 'approved', 'approved_with_conditions', 'deferred', 'disapproved', 'ready_for_pre_review', 'resubmitted_for_pre_review', 'finance_in_progress')")
+    op.execute("ALTER TABLE study ALTER COLUMN progress_status TYPE progressstatus USING progress_status::text::progressstatus")
+    op.execute("DROP TYPE progressstatus_old")
+
+
+def downgrade():
+    op.execute("UPDATE study SET progress_status = 'in_progress' where progress_status = 'finance_in_progress'")
+
+    op.execute("ALTER TYPE progressstatus RENAME TO progressstatus_old")
+    op.execute("CREATE TYPE progressstatus AS ENUM('in_progress', 'submitted_for_pre_review', 'in_pre_review', 'returned_from_pre_review', 'pre_review_complete', 'agenda_date_set', 'approved', 'approved_with_conditions', 'deferred', 'disapproved', 'ready_for_pre_review', 'resubmitted_for_pre_review')")
+    op.execute("ALTER TABLE study ALTER COLUMN progress_status TYPE progressstatus USING progress_status::text::progressstatus")
+    op.execute("DROP TYPE progressstatus_old")