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LISC names Jorge Cruz to expand community investments, drive economic opportunity in Newark

LISC names Jorge Cruz to expand community investments, drive economic opportunity in Newark
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NEWARK, N.J., May 3, 2021 /PRNewswire/ One of New Jersey s top impact investing strategists is set to take the helm of a leading community development organization, with ambitious plans to expand local investments in affordable housing, economic development, health, education and jobs.
Jorge Cruz, a 30-year veteran of community investing who most recently served as chief external affairs officer with New Jersey Community Capital (NJCC), is the new executive director of LISC Greater Newark, the local arm of the Local Initiatives Support Corporation (LISC). LISC is one of the nation s largest community development organizations, with some $24 billion invested nationwide, including more than $151 million in Newark. ....

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N.J. Fund Offers Loans to Black-owned Firms Impacted by COVID-19

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Like countless small businesses across the country, N&R Divine Cleaning Service in Hackensack saw its client base dry up when the COVID-19 pandemic struck last year. Offices, schools, and fitness centers were all forced to close for a few months and no longer needed professional cleaners.
“It was not a good feeling,” said owner Nadine Brown, who had to use her savings to pay bills and buy groceries.
Brown, who was out of work for three or four months, said she applied for loans to support her business but wasn’t successful. Since her one-woman firm has only been in operation for a couple of years, Brown said banks looked at her personal credit score, which was “not that great.” ....

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NJ loan program for Black-owned businesses | NJ Spotlight News

Credit: (AP Photo/Matt Rourke)
File photo: April 28, 2020, shuttered businesses along the boardwalk in Atlantic City
Like countless small businesses across the country, N&R Divine Cleaning Service in Hackensack saw its client base dry up when the coronavirus pandemic struck last year. Offices, schools, and fitness centers were all forced to close for a few months and no longer needed professional cleaners.
“It was not a good feeling,” said owner Nadine Brown, who had to use her savings to pay bills and buy groceries.
Brown, who was out of work for three or four months, said she applied for loans to support her business but wasn’t successful. Since her one-woman firm has only been in operation for a couple of years, Brown said banks looked at her personal credit score, which was “not that great.” ....

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N.J. fund offers loans to Black-owned firms affected by COVID

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A person wearing a protective face mask as a precaution against the coronavirus walks past shuttered businesses on the boardwalk in Atlantic City, N.J., Tuesday, April 28, 2020. (AP Photo/Matt Rourke)
Like countless small businesses across the country, N&R Divine Cleaning Service in Hackensack saw its client base dry up when the COVID-19 pandemic struck last year. Offices, schools, and fitness centers were all forced to close for a few months and no longer needed professional cleaners.
“It was not a good feeling,” said owner Nadine Brown, who had to use her savings to pay bills and buy groceries. ....

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N.J. foundation invests $1M for unconventional loans to support Black-owned businesses

N.J. foundation invests $1M for unconventional loans to support Black-owned businesses
Updated Mar 12, 2021;
Posted Mar 10, 2021
Monday, March 10, 2021 - The Pascale Sykes Foundation commits $1,000,000 to the African American Chamber of Commerce of New Jersey (AACCNJ) and New Jersey Community Capital (NJCC) to expand entrepreneurship opportunities for black-owned businesses. At left, John Harmon Sr., Founder, President, and CEO, African American Chamber of Commerce of NJ delivers remarks.In back from left are Wayne Meyer, president of New Jersey Community Capital and Frances P. Sykes, president, Pascale Sykes Foundation.
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The Pascale Sykes Foundation, an organization formed to help working class families thrive, announced Wednesday it is investing in Black business enterprises in New Jersey. ....

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