Lending Programs to Fit You
GNEC offers lending programs to allow business owners who struggle to access capital to apply for and access loans at competitive rates. Our lending programs are funded by various sources offering a wider range of flexible terms tailored to help entrepreneurs grow. See which program best fits your needs.
Please be advised that due to the high volume of loan clients in our portfolio within the cosmetology, transportation, and food industries, we regret to inform you that we are temporarily limiting loan applications for businesses in these categories. We apologize for any inconvenience this may cause and encourage you to explore our technical assistance to support your business.
All loans start off from these two programs above. Please apply accordingly.
GNEC Funding Sources:
Click the tools to the right to see which fund best fits your business.
Different Method to Underwriting Loans
As a Community Development Financial Institution, we approach lending differently than traditional financial institutions. We do not just examine and make decisions based on credit scores but specialize in ways to help clients who may have difficulty accessing capital from traditional means. We assist entrepreneurs to grow economically stable businesses by helping them secure access to funds. Additionally, we provide the resources and know-how to close the racial funding gap to help make our clients bankable.
All loans will undergo an underwriting process.
If you have questions, feel free to connect with our team or visit our FAQ.
A Profile of Our Clients
Over 175
loan clients
since 2012
88%
Minority clients
55%
female clients
Average Loan Size
2020 | $ 14,272
2021 | $ 24,008
2022 | $ 21,627
*2022 projection
In 2022, loans have been made to entrepreneurs with the following income levels:
Entrepreneurs use loans for some of the following purposes:
- Start-up costs (seed money)
- Inventory and supplies
- Equipment purchases
- Leasehold improvements
- Working capital
- Business expansion
- Advertising and promotions
- Payroll
GNEC Loan Feedback
Here are some comments from a few businesses who have received loans from GNEC.