Lending Business Loan Services to Fit You
GNEC creates equity of access by offering lending programs that help business owners apply for and secure loans at competitive, affordable rates. Our business loan services are funded by a variety of sources, allowing us to offer flexible terms designed to support long-term growth. Approved borrowers benefit from a decreasing interest rate structure starting at 7.99% in Year 1 and dropping to as low as 0 % by Year 4, with no prepayment penalty. Lower rates are earned by making on-time monthly payments.
See which program best fits your needs.
Business Builder Loan
Provide loans that range over $30K to $100K.
Who is this for?
This loan is usually for seasoned entrepreneurs looking to expand their business. Final decisions are determined by an external credit committee.
The Three C’s of Qualification
Testimonials
Jason Martin
“I could only speak of my own experience from years of dealing with other people. I believe that GNEC is a sincere partner to collaborate. They are interested in seeing you grow. They’re interested in your success.”
Jessenia Silverio
“They gave us the opportunity to package our product, buy our materials and set us up for success.”
Jayda Audrick
“Without that loan I would not have been able to get that far that fast.”
Hilda Mera
“I applied in a bank and unfortunately they were not giving me what I was looking for….. Then I actually found out about GNEC and the process with GNEC was so easy and the people I dealt with were very nice and the info was not difficult to work with.”
Eryn Santos
“They helped me with everything. You guys were amazing, everybody in the company was so beautiful to me. I have no other words than to say thank you…. I think it was a beautiful opportunity for the LGBTQ community.”
Kimberly Butler
“There’s always a reason to not do it so if you don’t get started then it just wont happen. The key is to learn from those mistakes and if you don’t know the answer it doesn’t mean you’re not doing a good job.”
Michelle Bradley
“The people were just super helpful, It wasn’t scary, they were very clear on what info they needed, they held your hand through the process and yeah it was very seamless. I was really real shocked and pleasantly surprised”
Different Method to Underwriting Loans
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 nurture entrepreneurs and help them secure access to funds so they can grow economically stable businesses. Additionally, we provide the resources and know-how to close the racial funding gap to help make our clients bankable.
All loans will undergo an underwriting process.
If you have questions, feel free to connect with our team or visit our FAQ.
A Profile of Our Clients
Over 370
loan clients
since 2012
90%
Minority clients
52%
female clients
Average Loan Size
2023 | $ 22,627
2024 | $ 30,638
2025 | $ 27,797
Since 2012, loans have been made to entrepreneurs with the following income levels:
Entrepreneurs use loans for some of the following purposes:
Business expansion
- Inventory and supplies
Equipment purchases
Leasehold improvements
- Working capital
- Job creation
- Advertising and promotions
- Payroll
GNEC Loan Feedback
Here are some comments from a few businesses who have received loans from GNEC.
Tools to Start Your Financial Journey
@GreaterNewarkEnterprisesCorporation
@gnecnj 
@Greater Newark Enterprises Corporation
