Who We are and
Why We Exist
GNEC, established in 2005, is a nonprofit Community Development Financial Institution (CDFI). CDFIs aim to offer responsible and affordable lending services to financially disadvantaged communities nationwide. Unlike traditional banks, CDFIs also provide technical assistance support alongside their lending activities.
Our Mission
GNEC facilitates connections between entrepreneurs and the resources they need – capital and coaching – to foster the growth and sustainability of their businesses. We’re dedicated to delivering business capital, consulting, and coaching services to entrepreneurs rooted in New Jersey.
Success by the Numbers
We help entrepreneurs grow economically stable businesses by helping them secure access to capital. We believe that providing entrepreneurs with resources about how to secure capital is critical to closing the racial funding gap and helping them become bankable.
We have offered over $4,330,000 in loans and counting and about 4,000 clients served.
Industries from 2018-2023
12.5%
12.5%
Services – Personal
21.2%
21.2%
Business & Professional
25.9%
25.9%
Retail Businesses
25%
25%
Transportation & Trucking2.2%
2.2%
ManufacturingThrough access to our partnerships with professional resources, we also provide you the technical support to foster your success.
We are GNEC
Our sole purpose for existence is to help entrepreneurs start or grow businesses by providing the resources and capital solutions critical to business success.
We Just Care
We’re committed to helping our clients get the success they need day in and day out. Our team members include:
Click Pictures for Bios
Board Members
Judith A. Sheft (Board Chairwoman) – NJEDA
Avi Telyas ( Treasurer ) – Makerhoods.org
John Suwatson ( Secretary ) – Genova Burns LLC
Dr. Tamara Mangum-Thomas – Sharpened Image
Dominick Belfiore – M&T Bank
Carlton West – Aspira Community Development LLC
Amit Airen – Consultant
Therone Hopkins – Invest Newark
Chris Murphy – Murphy Schiller & Wilkes LLP
Julian Ibanez – The Prudential Insurance Company of America
Glenn Carroll – Peapack Gladstone Bank
Kat Zacharia – JP Morgan Chase & Co.
Yane Arias – Santander Bank
Gustavo Abreu – Barclays
Kenneth Bland– Prudential Financial