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Newark CEDC Standard Loan Program

Thank you for your interest in a small business loan from the Newark Community Economic Development Corporation (Newark CEDC). Newark CEDC’s $20,000 or less loans are provided to entrepreneurs that want to start or expand a business in The City of Newark. We require that you have experience in the industry where you are requesting funds. We also need you to be current in your tax payments. Please click here to read the attached standard loan application to further understand our loan parameters and requirements.

Private Bank Collaboration

Other Newark Entrepreneurial Resources

If you need additional services or resources to assist you pursue your entrepreneurial dreams; here are other Newark based resources that can help you.

  • To improve your credit score, we recommend you contact the Intersect Fund (www.intersectfund.org) or GNEC (Greater Newark Enterprises Corp. gnecorp.org).

  • To receive assistance developing a business plan or receive training to run a business, contact: NJ SBDC (New Jersey Small Business Development Corporation at Rutgers-Newark,NJSBDC.com), IFEL (Institute for Entrepreneurial Leadership, ifelnj.org ), Rising Tide Capital (Risingtidecapital.org) or GNEC (Greater Newark Enterprises Corp. gnecorp.org).

  • To apply for a loan elsewhere,  we recommend reaching out to SBA (Small Business Adminstration, 973-645-2434), the Profeta Urban Investment Foundation (profetafoundation.org), GNEC (Greater Newark Enterprises Corp., gnecorp.org), or the Intersect Fund (intersectfund.org).

  • To register to win a contract with  Essex County and attend free seminars and training programs, contact: Essex County Office of Small Business Development and Affirmative Action (http://www.ecbizcenter.com/).

  • Finally, if you want to sell your products or services to Federal, State or Local government agencies, please contact NJIT Procurement Technical Assistance Center: njit.edu/ptac.

If you have any questions, please contact Alexandra Demirali, Senior Loan Officer, at ademirali@newarkcedc.org.

UCEED

Microloan Program

Thank you for your interest in Newark Community Economic Development Corporation’s (Newark CEDC) microloan program. Our microloan program awards loans that are $2,000 or less. These loans are available for candidates that might not have credit scores, but currently have a small ongoing business. You will be required to raise $50 each from a minimum of ten associates to qualify for our loans. If you have ten family, friends and community members that are willing to lend you money, then you might be a good candidate for Newark CEDC microloan program. Please click here to read the attached microloan application for additional details on this program.