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Local Voices

Foundation Grant to Support Training and Assistance for Small Businesses

The Investors Foundation has awarded a $5000 grant to UCEDC, a non-profit economic development corporation, in support of the organization’s business training initiatives.

Founded in 1977, UCEDC provides a comprehensive range of services and support to entrepreneurs and small businesses in the state, including a variety of lending and financing programs for small businesses.

“We’re committed to helping small businesses create jobs and sustain local communities, with a particular emphasis on low-moderate income areas and women-and minority-owned businesses,” said Maureen Tinen, UCEDC’s president.  Our lending and training programs have resulted in the creation and retention of more than 5,000 jobs over the years.  This grant will help us do even more.”

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The $5,000 grant, which builds on previous funding awarded by the Foundation, will support the agency’s training services, which include business literacy seminars, mentoring programs, technical assistance, and classroom-style training for entrepreneurs.

“The Investors Foundation remains firmly committed to supporting small businesses and non-profit organizations in the diverse communities served by Investors Bank,” said Kevin Cummings, the Bank’s president and CEO.  Investors Bank is also a supporter of UCEDC; along with funding provided by the Hurricane Sandy New Jersey Relief Fund, a grant from the Bank is helping to subsidize UCEDC's Storm Loan Recovery Program, which is available to provide working capital to businesses affected by last year's storm. 

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“Through the program, small businesses needing a boost to recover from the storm can receive up to $50,000 in financing at two percent interest for five years, with no collateral requirements,” said Tinen.  “In behalf of the small business community we serve, we thank the Investors Foundation and Investors Bank for their continued friendship and support.”

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