N.E.E.T.I. New Entry Entrepreneurial Training Institute

Programs: The GNBCD/SBA Microloan Program

GNBDC became an SBA intermediary for the Microloan Program in September 1993. Under the Microloan Program, GNBDC provides financial assistance to start-up and existing small business owners to start or grow their business. The financial assistance is in the form of fixed term loans ranging from $1,000.00 up to a maximum of $35,000.00. The interest rate is fixed at either 400 basis points or 500 points above the prime lending rate. The maximum term is 6 years. It should be noted that these borrowers could not qualify under regular banking requirements.

**Please note: You must submit a $25 processing fee and a business plan to be considered for a loan. The following link will redirect you to our loan application page:

Curriculums: Urban Entrepreneurs Development Institute

UEDI, The Urban Entrepreneurs Development Institute, assists prospective and existing business owners in the the Greater Newark area to become economically self-sufficient and to help develop self-employment and capital resources. To accomplish this goal, GNBDC, in conjunction with our partners, offers this coordinated program that consists of providing self- employment assistance, microenterprise training, technical assistance and credit to participants.

Classes are delivered in a computer lab so that participants have immediate access to the internet while in class. The class is taught by experienced business people, and the combination of the instructor, guest presenters, and the active participation of the participants leads to an enriching experience that is unmatched.

Although financing is not guaranteed, graduates of UEDI are in a stronger position to obtain financing from GNBDC as well as many other financing institutions in the area. Graduates also join a growing network of entrepreneurs, many of whom are sure to achieve great success in the future.

For information on future UEDI classes, check this website periodically or call GNBDC at (973) 242-4132.

Worshops & Seminars

GNBDC sponsors an ongoing series of training programs designed to give entrepreneurs and small business owners practical training in skills critical to business start-up and daily business management.

Mentoring

One ingredient vital to business success is experience. GNBDC provides that experience to borrowers in the form of seasonsed mentors who are matched with small business operators to provide individualized assistance. Mentors draw on the insights gained over years in their respective fields to help entrepreneurs recognize problems holding back business growth and to identify methods for driving a successful venture. Assistance is offered in such diverse areas such as financial management, marketing, sales, operations, personnel management, and much more.