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Our sole purpose for existence is to help entrepreneurs like you start or grow your business by providing the resources and capital solutions critical to business success. We believe that entrepreneurs who leverage the limited resources available to them are the ones who ultimately succeed.

I’ve seen the difference between other organizations and GNEC. I sat down with a GNEC team member on many occasions and we went over my numbers. It didn’t discourage me because it taught me more about the finance part of my business. It was a good process compared to the other place where they just cut me a check and said pay us back.

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Fill out form to get started on a loan or business training

Small Business Lending

Access to capital is often the biggest challenge facing entrepreneurs and business owners. At GNEC, we provide loans from $1,000 to $50,000. Individuals looking for more than $50,000, we have lending partners that can go up to $2 million. No matter your situation, we will work with you to find the right solution just for you. Our support doesn’t end at the loan closing, we provide ongoing business mentoring and counseling services to help you stay on track to meet your business goals.

Business Loans – up to $50,000

GNEC Micro loan Program open to all small businesses. Businesses can borrow up to $10,000 with no 1-to-1 collateral. For all loan amounts greater than $10,000, there is a 1-to-1 collateral requirement.

Microloan funds can be used for a broad range of business needs, including but not limited to purchasing equipment, fixtures or inventory; working capital; or making renovations on privately owned commercial real estate.

Loans greater than $50,000

For individuals looking for more than $50,000, we work with lending partners that can lend up to $2 million.

Ready for a Loan?

GNEC is dedicated to helping small businesses get the financing they need when banks and other traditional sources are not available. We understand it is challenging to get a loan when you are just starting out, or when you need a moderate amount of additional capital infusion for business growth.To help you prepare the best possible loan application, we have provided a checklist of documents you will need. Please follow each step before submitting a Loan Application.

Training and Counseling

The technical assistance and training arm of our services.

Within UEDI, we have the PRIME and TBSI programs. With these programs we provide a variety of services including business counseling and workshops; understanding the ins and outs of financing your business, understanding your credit, validating your business assumptions, business model canvas, financial modeling and metrics, business valuation, marketing, the art of the pitch, and other financial topics.

Ready to get serious about developing and implementing a strategic business plan?

Then our Entrepreneurial Training programs are what you’re looking for. When you read our Client Stories, you’ll see why we’re so excited about their small business success.

Learn More

Are you an entrepreneur or small business owner that needs a loan or business assistance?

Additional Programs

For certain entrepreneurs, we get the ball rolling and then make the right introductions to other programs that will be beneficial to their particular business’ stage and needs.
GNEC is proud to partner with a number of other institutions and partners in Northern New Jersey to support to each business that connects with us.

For Existing Business Owners

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Rutgers Center for Urban Entrepreneurship & Economic Development (CUEED) Entrepreneurship Pioneers Initiative (EPI) program. EPI is “designed exclusively for first-generation entrepreneurs. EPI is a highly competitive nine-month program that can serve as a single source to support the growth of your business. The program offers a powerful blend of monthly classes, intensive training, one-on-one counseling, financial guidance, peer coaching and networking”.

CUEED “Pipeline to Inclusive Innovation (PII) Initiative aims to increase the number of underrepresented inventors, scientists and technology-focused Minority Business Enterprises (MBEs) engaged in federally-funded innovation and technology programs.”

The SBA Emerging Leaders Initiative – This is a federal training initiative that specifically focuses on executives of businesses poised for growth in historically challenged communities. The initiative provides these executives with the organizational framework, resource network, and motivation required to build sustainable businesses and promote the economic development within urban communities.GNEC provides the financial training for participants of Emerging Leaders.

Rising Tide Capital Community Business Academy – this is a twelve (12) “week course that offers hands-on training in business planning and management:
teaches business fundamentals like budgeting, marketing, bookkeeping and financing”. GNEC provides business financing to this program’s graduates.

NJIT Newark Innovation Acceleration Challenge (NIAC) – this is a business pitch competition to find the next great business ideas from the community and students in the Greater Newark area. GNEC provides the financial training for participants of NIAC.

Black and Latino in Tech Initiative (BLT) pre- accelerator – this is a program organized by Rutgers Center for Urban Entrepreneurship and Economic Development (CUEED). BLT aims to “connect founders of color to the resources needed to attract capital.”

For Startup Businesses

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Fill out form to get started on a loan or business training