Lending Programs to Fit You
GNEC offers lending programs to help business owners who struggle to access capital apply for and secure loans at competitive rates. Our lending programs are funded by various sources, offering a wider range of flexible terms tailored to help entrepreneurs grow. Approved borrowers can access a fixed rate of 5.99% with no prepayment penalty. See which program best fits your needs.
All loans start off from these two programs above. Please apply accordingly.
Testimonials
“The people were just super helpful, It wasn’t scary, they were very clear on what info they needed, they held your hand through the process and yeah it was very seamless. I was really real shocked and pleasantly surprised”
“There’s always a reason to not do it so if you don’t get started then it just wont happen. The key is to learn from those mistakes and if you don’t know the answer it doesn’t mean you’re not doing a good job.”
“They helped me with everything. You guys were amazing, everybody in the company was so beautiful to me. I have no other words than to say thank you…. I think it was a beautiful opportunity for the LGBTQ community.”
“I applied in a bank and unfortunately they were not giving me what I was looking for….. Then I actually found out about GNEC and the process with GNEC was so easy and the people I dealt with were very nice and the info was not difficult to work with.”
“I could only speak of my own experience from years of dealing with other people. I believe that GNEC is a sincere partner to collaborate. They are interested in seeing you grow. They’re interested in your success.”
“Without that loan I would not have been able to get that far that fast.”
“They gave us the opportunity to package our product, buy our materials and set us up for success.”
“Believe in yourself, love what you do and everything will come true.”
“I didn’t have to pay back the loan in a month. I had a year to just pay interest at a very low rate.”
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 295
loan clients
since 2012
92%
Minority clients
54%
female clients
Average Loan Size
2022 | $ 21,627
2023 | $ 22,627
2024 | $ 30,638
Since 2012, loans have been made to entrepreneurs with the following income levels:
Entrepreneurs use loans for some of the following purposes:
- Business expansion
- Inventory and supplies
- Equipment purchases
- Leasehold improvements
- Working capital
- Job creation
- Advertising and promotions
- Payroll
GNEC Loan Feedback
Here are some comments from a few businesses who have received loans from GNEC.
@GreaterNewarkEnterprisesCorporation
@gnecnj 
@Greater Newark Enterprises Corporation
