Minority Entrepreneur Fund
GNEC now offers the Minority Entrepreneur Fund. The loan fund offers reduced interest rates on loans funded by this program at 5.99%. It is still much lower than loans from traditional sources.
Companies must be:
- owned at least 51% by a “entrepreneur of color” (African-American, Hispanic, Asian, or other minority).
Loans are underwritten using a stress test rate of 10.99% to determine qualification. Upon review, we will determine the best funding source for your situation.
All loans start off from these two programs. Please apply accordingly.
Dream Maker Loan Program:
Loans $1K to $30K
Business Builder Loan Program:
Loans above $30K
” As a business owner working with limited working capital while trying to grow, the Entrepreneurs of Color Fund comes at a critical time when access to flexible capital will significantly increase our capacity to meet the overwhelming demand we are currently experiencing for our products.”
–
Florence Dennis
CEO of Flows Tasty Treats
@GreaterNewarkEnterprisesCorporation
@gnecnj 
@Greater Newark Enterprises Corporation