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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. ....

United States , New Jersey , Dwayne Meyer , John Harmon , Nadine Brown , Nr Divine Cleaning Service In Hackensack , African American Chamber , Equitable Small Business Initiative , Us Department Of Commerce , Jersey Community Capital , New Jersey Community Capital , ஒன்றுபட்டது மாநிலங்களில் , புதியது ஜெர்சி , வேன் மேயர் , ஜான் ஹார்மன் , நாடின் பழுப்பு , சமமான சிறிய வணிக முயற்சி , எங்களுக்கு துறை ஆஃப் வர்த்தகம் , ஜெர்சி சமூக மூலதனம் , புதியது ஜெர்சி சமூக மூலதனம் ,

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. ....

New York , United States , New Jersey , Jackie Edwards , Dwayne Meyer , Fran Sykes , John Harmon , Phillip Woolfolk , Francesp Sykes , Federal Reserve Bank , African American Chamber , Equitable Small Business Initiative , National Bureau For Economic Research , Jersey Community Capital , Us Small Business Administration , Pascale Sykes Foundation , Jersey Community Capita , Paycheck Protection Program , New Jersey Community Capital , Pascale Sykes Foundation President Fran , West State Street , Vice President , Strategic Engagement , Pascale Sykes , Business Administration , Chief Operating Officer ,

New Jersey Pandemic Relief Fund receives $50,000 from M&T Bank

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