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Programs Overview

 

Programs: GNEC Microloan Program

GNEC established its Microloan program in 2005. Under the Microloan Program, GNEC provides financial assistance to start-up and existing small business owners to start or grow their business. The financial assistance is in the form of fixed term loans of up to a maximum of $50,000 for a maximum term of 5 years. It should be noted that these borrowers could not qualify under regular banking requirements.

 

**Please note: You must submit a processing fee and a business plan to be considered for a loan. A tiered fee structure dependent on size of loan request
$1,000 – $10,000: Fee $100
$10,001 – $20,000: Fee $150
$20,001 – $35,000: Fee $200
$35,001 – $50,000: Fee $250

We do not accept loan applications or fees online or by fax, you must contact us and set up an appointment to review prior to applying. The following link will show you to our loan application page:

 

 


 

 

Urban Entrepreneurs Development Institute (UEDI™)

UEDI™, The Urban Entrepreneurs Development Institute, assists prospective and existing business owners in the Greater Newark area to become economically self-sufficient and to help develop self-employment and capital resources. To accomplish this goal, GNEC, in conjunction with our partners, offers this coordinated program that consists of providing self- employment assistance, micro-enterprise training, technical assistance and credit to participants.

 

To find out more, email Aalvarez@gnecorp.org


 

“I would not only recommend my clients who are aspiring and new women business owners but I would say every aspiring and seasoned entrepreneur should attend this workshop because the subject matter isn’t something that’s typically offered in programs for start-ups… GNEC and the like are critical resources right now in this tough economic climate. They are making available an opportunity, a means for people to create their own jobs and become financially independent through smart entrepreneurship.”

 

Dee Marshall – President, Raise The Bar, LLC
Certified Coach, International Speaker & TV Lifestyle Expert

www.goRaiseTheBar.com

 

Although financing is not guaranteed, graduates of UEDI™ are in a stronger position to obtain financing from GNEC as well as many other financing institutions in the area. Graduates also join a growing network of entrepreneurs, many of whom are sure to achieve great success in the future.

 

We also now facilitate this program in Spanish, entitled Instituto de Desarollo Urbano de Empresarios (IDUE). For more information on our Spanish programming, please contact Al Alvarez – aalvarez@gnecorp.org

 

For information on future UEDI™ classes, check this website periodically, call us at (973) 242-4132 or fill out the “contact us” information.

 

Upcoming Workshops & Seminars

In addition to UEDI, GNEC sponsors seminars and workshops designed to give entrepreneurs practical training in skills critical to business start-up and daily business management. Areas that have been addressed include how to obtain and manage government contracts, how to obtain financing in a difficult economy, human resource issues for small businesses, and marketing and branding techniques.

 

“My partner and I have recently attended a couple of events hosted by GNEC and on both occasions, our expectations we’re exceeded. We observed that they have put together a great program and brought together an abundance of talented resources to make up their team. The information was easy to understand for new business owners yet was relevant to someone who may have been in business 30 years. The staff is engaging, friendly and helpful with whatever questions you might have. We highly recommend attending any of their events.”

 

Dave Wagner & Hannia Sobrevilla
Atlas Messengers
www.atlasmessengers.com

Networking and Resource Events

 

As part of our UEDI program, GNEC provides practical workshops and seminars to provide entrepreneurs with much needed access to professional services and networking opportunities.

“Entrepreneurial Readiness” Series

 

A three-part series highlighting the fundamentals of entrepreneurship including the  realities of credit, financing, and planning. We encourage entrepreneurs interested in participating in our 8-week entrepreneur training program to attend these workshops as a primer.

 

Introduction to Entrepreneurship”

“Financial Literacy for Entrepreneurs”

Credit Building and Finance Options”

These workshops are also offered in Spanish:

Introducción a la Iniciativa Empresarial”

Fundamentos Financieros para Empresarios”

“Construcción de Crédito y Opciones de Financiamiento”

For more information and to register, contact: info@gnecorp.org or 973-242-4132

 

Technical Assistance Resources

 

“GNEC is a great organization that is empowering our local entrepreneurs and small business owners and having a positive impact on our communities. Executive Director Mike Wall is passionate about GNEC’s mission and helps to inspire others to achieve their goals. His dynamic workshop on entrepreneurship was very useful and informative for my MBA students at Saint Peter’s University, and it’s clear that GNEC is a positive force for change and growth in our diverse, urban communities.”

– Mary Kate Naatus, Ph.D.
Assistant Professor
Department of Business Administration
Saint Peters Univsersity

 

In concert with GNEC’s micro financing and training initiatives, technical assistance resources are provided to entrepreneurs applying for financing on individual bases in three stages.

 

For those entrepreneurs looking for microloan financing GNEC provides pre-loan technical assistance to help prepare the client for the application process. This typically ranges from credit building resources, to personal financial management, to business plan preparation.

 

Though GNEC accepts all loan applications submitted, there are those that are more qualified than others. As such GNEC assists applicants, where necessary, in improving the quality of documentation.

 

This technical assistance offered during the loan application process also provides an opportunity to evaluate the client’s future technical assistance needs and helps to allocate resources accordingly.

 

Finally and most importantly, GNEC provides ongoing technical assistance to all microloan borrowers in the form of site visits, financial statement analysis, and scheduled one-on-one consultation.

 

As part of our Technical Assistance, we offer “soft” credit pulls. A soft credit check does not affect your credit score nor will it be viewed by anyone who pulls your report in the future. Click the pay now button below and take the first step to rebuilding your credit.

 




 

Who We Help

The program is designed to provide an overview of entrepreneurship and small business to individuals that have expressed an interest in sustaining themselves through business ownership.