NJSBDC Network Launches Program Focused on Helping Small Businesses Gain Funding
August 2, 2021 (Newark, NJ) The New Jersey Small Business Development Centers (NJSBDC) Network, hosted statewide through Rutgers Business School, introduces its “Capital Team,” a pilot program launched in April 2021 to assist the small business community recover from the devastating effects of the pandemic. As a result, the men and women of this Team are dedicated to helping small businesses obtain financing for their projects.
Designed solely to enhance an entrepreneur’s access to funding, the NJSBDC’s Capital Team focuses on financial sources, understanding the newest guidelines regarding the business community, and increasing efficiency during the application process. This allows local SBDCs to reallocate their resources to efforts that improve the many sections of a business’s plan for growth.
“The creation of the Capital Team stemmed purely from listening to the small businesses on their needs. We at NJSBDC want to be part of the solution assisting entrepreneurs with the much sought-after capital to sustain and grow their business in NJ,” said Kelly Brozyna, NJSBDC network chief executive officer and state director. “The Capital Team has amazing talent/knowledge that will make the difference for owners between success and failure. Failure is not an option, and we are here to help.”
The Capital Team is composed of NJSBDC’s top eight consultants who bring their own diverse experience and vast knowledge of collective private sectors to help secure much-needed funding for small business owners in the pandemic. In addition to informing NJSBDC clients about the opportunities available to their businesses, the experts also guide them through different application processes and organize one-on-one meetings between clients and a network of institutional and private/accredited investors.
The program has been received positively by the business community. One recent client had this to say: “I didn’t know anything, in terms of financials, for my business. But, if it weren’t for the Capital Team Consultant who helped me with my application, business plan, and projections, I definitely would have run into many challenges going forward,” said Jeffrey Paredes, owner of JAP & MF Trucking. “My experience with the Capital Team was very eye-opening and humbling. They went above and beyond what I expected of them.”
With only three months of providing its services, the NJSBDC’s Capital Team has served over 200+ businesses and has closed on $3.4 million of funding opportunities with an additional $5.2 million currently in the application process.
To request counseling with the Capital Team, clients can register at NJSBDC Statewide Specialty Programs. As for Center generated clients, each Center administers a basic needs assessment before sending a request to the Capital Team administrator. Next, the Capital Team consultants provide assistance based on available opportunities/resources and skill set.
The NJSBDC’s Capital Team is in part funded by the State of New Jersey Business Action Center (BAC).
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About America’s SBDC New Jersey (NJSBDC)
America’s SBDC New Jersey, also known as New Jersey Small Business Development Centers (NJSBDC) network, is one of the nation’s first pilot projects and has provided comprehensive services and programs for small businesses in New Jersey over 40 years. SBDC experts help businesses expand their operations, manage their growth, and start new ventures. Expert business consultants help small business owners and entrepreneurs develop business plans, find financing, perform accounting and financial analysis, develop and refine marketing strategies, find and take advantage of procurement and international trade opportunities, learn green sustainability practices, commercialize technology and develop an E-commerce presence. The NJSBDC is a non-profit network, a federal-state-educational partnership, leverages funding from the U.S. Small Business Administration (SBA), the N.J. Business Action Center, the educational institutions that host the 12 centers, as well as other private sponsorships and additional private/public grants. The NJSBDC Headquarters, located at the Rutgers Business School in Newark, NJ, oversees the network, which is an accredited member of America’s SBDC. Approximately 1,000 centers and satellite offices serve small businesses across the country, generating jobs and economic development. To learn more about the NJSBDC, visit www.njsbdc.com and follow @NJSBDC on Instagram, Facebook, and Twitter for new updates, opportunities, and resources. #NJSBDC #NJThrives
About the NJ Business Action Center (NJBAC)
The New Jersey Business Action Center (NJBAC) is a business-first business advocacy team within the NJ Department of State, dedicated to solving problems and maximizing growth opportunities. Whether you are an entrepreneur, own a business on “Main Street,” are located on a corporate campus, or interested in expanding your products and services through export, we’re here for you. To learn more about the NJBAC, visit www.business.nj.gov. For assistance by NJBAC Advocates, call 1-800-JERSEY-7 or visit the NJBAC website for Live Chat options.