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The Equitable Small Business Initiative

Expanding financial relief and long-term investment for Black and minority-owned small business enterprises.

About

The Equitable Small Business Initiative by New Jersey Community Capital and the African American Chamber of Commerce of New Jersey brings capital to small business enterprises in New Jersey, focusing on support for Black and minority-owned small businesses most affected by the COVID-19 pandemic. Eligible and interested small business owners can apply for a loan starting April 1, 2021.

Securing Access to Equitable Capital

Black-owned small businesses have faced historical challenges in securing access to capital, contributing significantly to limited financial health, startup capital, and access to credit and profitability. The economic downturn of the COVID-19 pandemic has further exacerbated these financial challenges. The Equitable Small Business Initiative builds on the long-standing commitment of NJCC and the AACCNJ to help address systemic inequities and support the needs of underrepresented communities. The program will to provide a holistic set of resources to help address the immediate financial needs of small businesses, including high-touch and individualized technical assistance, capacity building and administrative support.

The initiative is supported by investments from the Pascale Sykes Foundation, the New Jersey Pandemic Relief Fund and the Robert Wood Johnson Foundation.

Eligible and interested small business owners can apply for a loan starting April 1, 2021. Please check back for more information or contact us below.

Stories From the Field

Polaris American

After receiving a $500,000 acquisition and construction revolving line of credit from New Jersey Community Capital, William (Bill) was able to initially purchase two vacant, scattered-site properties in his hometown to rehabilitate and renovate into quality affordable housing units.

Read Story
Questions?

Contact Us

For further information about the Equitable Small Business Initiative, please contact Phillip Woolfolk of the AACCNJ by email below.

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New Jersey Community Capital

New Jersey Community Capital (NJCC) is a nonprofit community development financial institution (CDFI) that provides an innovative toolkit of financial products, programs and services to advance equity and opportunity in underserved communities. NJCC supports the preservation and development of affordable housing and sustainable community development ventures that increase jobs, improve education and strengthen neighborhoods to ensure that communities can thrive. To learn more, visit www.newjerseycommunitycapital.org and Twitter: @NJCLF.

 The African American Chamber of Commerce of New Jersey

The African American Chamber of Commerce of New Jersey (AACCNJ) performs an essential role in New Jersey’s Economy. As affirmed in its mission statement, the Chamber seeks to economically empower and sustain African American communities, facilitating entrepreneurship and free enterprise activity within the state, with direct outreach programs. Different from acting as simply an association of allied businesses, the Chamber serves as a proactive advocacy group. While providing a collective voice for New Jersey’s African American business leaders, the AACCNJ advocates and promotes economic diversity while fostering a climate of growth through major initiatives on the educational and public policy levels.