GNEC Launches LifeGuard™ Insurance to Strengthen Financial Security for New Jersey Small Businesses

Newark, New Jersey, June 2025 – Greater Newark Enterprises Corporation (GNEC) Ignites a New Era of Financial Security for Small Businesses with LifeGuard™ Insurance Protection, Celebrating 20 Years of Unwavering Commitment!

In a landmark move designed to revolutionize the financial health of small business owners, GNEC proudly announces the integration of LifeGuard™ insurance protection into its loan packages for both new and returning clients. This groundbreaking initiative for New Jersey, offering up to $25,000 of Term Life and $25,000 Accidental Death and Dismemberment insurance, arrives as GNEC celebrates its 20th anniversary, marking two decades of dedicated service and innovation in empowering entrepreneurs. The program will be launched in the New Jersey market in September 2025.

Beyond providing vital access to capital, GNEC’s clients will now receive an unparalleled layer of crucial protection for their families and partners, significantly enhancing their ability to withstand unforeseen financial shocks. This comprehensive insurance, fully covered by GNEC, transforms a simple loan into a powerful tool for holistic financial resilience.

This significant expansion is the culmination of pioneering work by Resilient and Ascendus, who together forged a groundbreaking regulatory framework in New York that enabled the seamless integration of insurance with small business loans for the first time in the country. This initial success was then amplified by a subsequent deployment with Accompany Capital, where coverage was offered to first-generation immigrants borrowing as little as $3000. Crucially, this marks the first time Resilient has deployed this innovative LifeGuard™ program outside of New York with this deployment in New Jersey unequivocally proving that this transformative solution can transcend state borders and empower communities across the entire nation.

“We are absolutely thrilled to witness the expansion of the LifeGuard™ program to GNEC, empowering even more small business owners with truly enhanced financial security, especially as they celebrate 20 years of profound impact,” exclaims Maximilian Weiner, CEO of Resilient. “This milestone builds directly on our foundational work with Ascendus to launch LifeGuard™, achieved by advocating for crucial regulatory changes in New York. The compelling data from that pilot program unequivocally demonstrates that micro and inclusive insurance delivers real, tangible benefits, underscoring the vital role of financial protection in fostering resilience and long-term financial health among small businesses. We are incredibly excited to now be expanding that work with GNEC, definitively proving that this innovation can go beyond New York State and work across the nation!”

Victor Salama, Executive Director of GNEC, adds with enthusiasm, “A small business or micro loan, powerfully paired with LifeGuard™ life insurance, creates an unprecedented triple bottom line for our participating clients: robust access to capital, critical credit development, and indispensable financial protection through superior financial planning. That safety net is not just important; it’s absolutely essential for our clients’ sustained well-being. The celebration of our 20th anniversary and the addition of this transformative insurance is a most appropriate recognition that none of this incredible journey would be possible without our clients, and this is our profound way to thank and acknowledge them for their trust and partnership.”

To qualify for this program, clients must be between 18–64 years old, own a business registered in New Jersey, and have an approved new loan through GNEC.

Visit gnec.org to learn more about how GNEC supports small businesses across New Jersey.