Fund Ready

Oh this episode of Fund Ready, Victor Salama will be providing an overview of ideation, emphasizing its importance for small business owners. Ideation is the process of generating and developing new business ideas by identifying problems or needs in the market and finding innovative solutions to address them. Adalberto Pena will share his and his partner's experience with the ideation process for their business, Untitled Union. 

https://www.gnec.org/technical-assistance/

https://www.weareifel.org/

https://risingtidecapital.org/

As a Community Development Financial Institution, we approach lending differently than traditional financial institutions. We do not just examine and make decisions based on credit scores but specialize in ways to help clients who may have difficulty accessing capital from traditional means. We assist entrepreneurs in growing economically stable businesses by helping them secure access to funds. Additionally, we provide the resources and know-how to close the racial funding gap to help make our clients bankable.

Personal credit is important when trying to secure capital because it serves as an indicator of the borrower's financial responsibility and ability to repay debts. Lenders use personal credit scores to assess the risk associated with lending money. A good personal credit score demonstrates reliability and a lower risk for the lender, increasing the chances of obtaining capital. Personal credit serves as a foundation for building business credit. By responsibly managing personal finances, small business owners can establish credibility and qualify for better business credit opportunities in the future. We discuss all this and more with guests Fabian Benalcazar & Jayda Audrick.

https://www.gnec.org/technical-assistance/

https://www.gnec.org/faqs/

As a Community Development Financial Institution, we approach lending differently than traditional financial institutions. We do not just examine and make decisions based on credit scores but specialize in ways to help clients who may have difficulty accessing capital from traditional means. We assist entrepreneurs to grow economically stable businesses by helping them secure access to funds. Additionally, we provide the resources and know-how to close the racial funding gap to help make our clients bankable.

In this episode, we will dive deep into the concept of Community Development Financial Institutions (CDFIs) and why they serve as an alternative for small and minority-owned businesses with guests Rasheedah Cook & Onel Villares.

https://www.gnec.org/business-loan-services/entrepreneurs-of-color-fund-newark/

https://www.gnec.org/faqs/

As a Community Development Financial Institution, we approach lending differently than traditional financial institutions. We do not just examine and make decisions based on credit scores but specialize in ways to help clients who may have difficulty accessing capital from traditional means. We assist entrepreneurs to grow economically stable businesses by helping them secure access to funds. Additionally, we provide the resources and know-how to close the racial funding gap to help make our clients bankable.

You’re listening to Fund Ready, a podcast series brought to you by the Greater Newark Enterprises Corporation, where we prepare New Jersey  small business owners  to successfully raise capital from community development financial institutions and other alternative sources.

We understand the challenges faced by small business owners when it comes to accessing capital, particularly for those in the black and Latino community,  and we want to empower you with everything you need to know to make your business fund ready.

As a Community Development Financial Institution, we approach lending differently than traditional financial institutions. We do not just examine and make decisions based on credit scores but specialize in ways to help clients who may have difficulty accessing capital from traditional means. We assist entrepreneurs in growing economically stable businesses by helping them secure access to funds. Additionally, we provide the resources and know-how to close the racial funding gap to help make our clients bankable.

https://www.gnec.org/