Cdfi rapid response program award

The Greater Newark Enterprises Corp (doing business as Gnec) was awarded a $200,000 Project Grant from the Department of the Treasury Community Development Financial Institutions Fund under the Community Development Financial Institutions Rapid Response Program (CDFI RRP, CFDA 21.024).

The grant will support Gnec's ability to respond to the economic impact of the coronavirus by providing financial and technical assistance services to small businesses and non-profits from June 2021 through December 2023. The CDFI RRP aims to bolster the COVID-19 related lending, financial counseling, and financial planning capabilities of Community Development Financial Institutions like Gnec during this period of economic uncertainty. The $200,000 in funding will allow Gnec to prepare for and address the needs of its constituents in the Greater Newark area as the pandemic continues.