Spotlight On
May 1, 2004
Organization Name: Project Enterprise
Year Founded: 1997
Contact Person: Beth Dunphe
Address: 144 W. 125th St., 4th Floor, New York, NY 10027
Phone: (212) 678-6734
Fax: (212) 678-6737
Email: info@projectenterprise.org
Website Address: http://www.projectenterprise.org
Mission:
Project Enterprise's mission is to assist entrepreneurs in under-resourced communities to increase their incomes, develop successful businesses, and build their assets, thereby creating jobs for themselves and their neighbors, and lifting the standard of living for themselves, their families, and their communities.
Background:
Project Enterprise was started in 1997 to assist entrepreneurs who for a variety of reasons cannot access traditional bank credit. First loans are a maximum of $1,500 without a credit check or collateral. Larger loans, up to $12,000, are available upon timely repayment of the initial loan. Project Enterprise currently has programs in Harlem, the Bronx, Brooklyn, Queens and Mt. Vernon. Project Enterprise is one of only a few micro-credit programs in New York City that offer micro-loans under $12,000. It is the only program that offers access to capital without the restriction of credit and background checks, collateral requirements, prior business planning, and prior business experience. PE's program also provides valuable business networking and leadership development opportunities.
Current Programs:
- Loans for Those Denied Credit: Through a social collateral system, entrepreneurs have the opportunity to obtain micro loans without providing a credit record or collateral.
- Business Training: All members receive free business training to assist them in building and managing their business. This training includes instruction in bookkeeping and building a business plan, as well as topics requested by the clients themselves.
- Networking Opportunity and Leadership Development: Through its group-based program design, Project Enterprise fosters leadership development and networking among small business owners.
Funding Needs:
Project Enterprise is currently seeking funding for its revolving loan fund, which provides small amounts of capital to micro-entrepreneurs. Contributions to the loan fund impact the community many times over as funds are continuously circulated as loans are repaid.
Every month, the "Spotlight On" highlights the activities
of a different 501(c)3 nonprofit organization located
in the tri-state region (NY, NJ, or CT). The selection
of organizations for the "Spotlight On" is based
on criteria such as programmatic interests, geographic
focus, and size, to ensure the broadest possible
representation of the region's nonprofit sector.
If you'd like to see your NPO in the "Spotlight,"
please use this submission
form to send us a profile of your organization.
Or e-mail a description of your organization,
following the above format, to nyweb@foundationcenter.org,
with "Spotlight Submission" in the subject line.
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