Who We Are and Why We Exist

GNEC, established in 2005, is a nonprofit Community Development Financial Institution (CDFI). CDFIs aim to offer responsible and affordable lending services to financially disadvantaged communities nationwide. Unlike traditional banks, CDFIs also provide technical assistance support alongside their lending activities.

Our Mission

GNEC supports entrepreneurs and small business owners in New Jersey’s underserved and underbanked communities by providing the capital and support services needed to grow thriving businesses.

Our Vision

GNEC envisions a thriving New Jersey where families can build wealth and opportunity through business ownership.

GNEC Core Values

Growth

By offering affordable financing, business support, and a commitment to your success, we help your business break barriers, create jobs and build a stronger future – for you and your community.

Nurture

We do more than offer loans, we nurture entrepreneur growth by pairing financial support with encouragement and guidance, so businesses can thrive for years to come.

Equity

We provided businesses with information, tools and guidance that break down barriers and demystify the lending process, creating a pathway to equity, one business at a time.

Capital

Our mission is to provide entrepreneurs access to capital they have long been denied, so that they may grow, thrive and create lasting impact in their communities.

Success by the Numbers

We help entrepreneurs grow economically stable businesses by helping them secure access to capital. We believe that providing entrepreneurs with resources about how to secure capital is critical to closing the racial funding gap and helping them become bankable.

12.5%

12.5%

Services – Personal

21.2%

21.2%

Business & Professional

25.9%

25.9%

Retail Businesses

25%

25%

Transportation & Trucking

2.2%

2.2%

Manufacturing

We have offered over $7 M in loans and counting, and over 4500 clients served.

0%
African American
0%
Hispanic
0%
White
0%
Asian

Through access to our partnerships with professional resources, we also provide you
the technical support to foster your success.

We are GNEC

Our sole purpose for existence is to help entrepreneurs start or grow businesses by providing the resources and capital solutions critical to business success.

We Just Care

 We’re committed to helping our clients get the success they need day in and day out. Our team members include:
Click Pictures for Bios

Victor Salama

Victor Salama

Executive Director

Desiree Sealey

Director of Operation

Khady Copeland

Khady Copeland

Development and Communications Director

Onel Villares

Onel Villares

Business Development Director

Al Alvarez

Al Alvarez

Program Director

Vincent Tanner

Vincent Tanner

Senior Underwriter

Tesha Kelley

Tesha Kelley

Financial Director

Ian Alcantara-Contreras picture

Ian Alcántara

Client Relationship Manager

Fabian Benalcazar

Fabian Benalcazar

Senior Underwriter

Board Members

Learn more

Board Members

Judith A. Sheft (Board Chairwoman) – NJEDA

Avi Telyas ( Treasurer ) – Makerhoods.org

John Suwatson ( Secretary ) – Genova Burns LLC

Dr. Tamara Mangum-Thomas – Sharpened Image

Dominick Belfiore – M&T Bank

Carlton West – Aspira Community Development LLC

Amit Airen – Consultant

Ferlanda Fox Nixon- Newark Regional Business Partnership

Derrick Mundy -Macquarie Asset Management

Therone Hopkins – Invest Newark

Chris Murphy – Murphy Schiller & Wilkes LLP

Julian Ibanez – The Prudential Insurance Company of America

Glenn Carroll – Peapack Gladstone Bank

Kat Zacharia – JP Morgan Chase & Co.

Gustavo Abreu – Barclays

Kenneth Bland– Prudential Financial

Sibusisiwe Malaba – Newark Alliance

How We Do it

Pre Launch

  • Create a customized strategy for your business idea including assistance in writing a business plan, competitive analysis, coaching through our successful business network, and lining up financial lending opportunities
  • Analysis of your financials and assistance with applying to the appropriate GNEC lending program to secure a loan (Click Here to View Our Lending Programs)
  • Bolster your business capacity by helping you understand your target market including a SWOT analysis, and coaching with successful entrepreneurs and marketing professionals

  • Completion of business plan including mission, vision and value statements
  • Assisting you with getting loan approval for the capital necessary to move forward
  • Offering ancillary business and technical resources for opening your doors or growing your business

  • Provide bookkeeping and accounting training on Quickbooks to maintain control and forecast income and expenses
  • Access to networking resources for introductions to potential customers or suppliers
  • Consultation with successful entrepreneurs to provide guidance and coaching – learn from others who faced the same challenges already
  • Access to Dun & Bradstreet credit builder tool to understand your credit and lending standing in order to improve loan rates and lending terms
  • Training in marketing and social media, including assistance with writing a marketing plan to reach your target audience

Meet Our Clients