Business & Finance

UCEDC Wins $250,000 Grant to Support Diversity in Small Business Lending


CRANFORD, NJ - UCEDC, a statewide nonprofit economic development corporation, has been awarded $250,000 by Wells Fargo to support its lending and educational initiatives among women- and minority-business owners. UCEDC was one of 12 organizations nationwide in 2017 to be funded through Wells Fargo’s Diverse Community Capital (DCC) program.

“Wells Fargo shares our commitment to giving diverse communities a fair chance to succeed in small business development,” says Maureen Tinen, UCEDC president. “Access to capital remains a struggle for women and minorities and this grant will allow us to redouble our efforts to reach them with innovative financing solutions.”

UCEDC offers training services and financing options to start-up and established business owners, with a focus on job creation and community development.  The organization has recruited a seasoned community advocate to spearhead its grant-supported outreach and strategic partnership initiatives.  Michael Miller, community development officer, will work directly with diverse businesses as well as with public and private entities to increase awareness of and access to UCEDC's loan programs.

Sign Up for E-News

“Through the Diverse Community Capital program, Wells Fargo works alongside community partners such as UCEDC in assisting diverse entrepreneurs start, stabilize and grow their enterprises,” says Tomas Porturas, vice president of Community Relations at Wells Fargo.  “The grant award will help expand UCEDC’s robust services including funding, technical training and other resources for more diverse-owned small businesses to strengthen their businesses and ultimately, our communities.”

To learn more about the strategic partnership initiative, please contact Michael Miller at or (908) 527-1166.

Since its inception in 1977, UCEDC has loaned over $30 million to small businesses throughout New Jersey, helping to create and retain more than 6,000 jobs. In 2017, UCEDC approved 61 small business loans totaling $9.6 million.  Minority-owned businesses accounted for 54% of those loans, while women-owned operations represented 69%.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

East Orange/Orange

School Crossing Guard Opportunities in Orange

July 20, 2018

ORANGE, NJ - The City of Orange Township is accepting applications for Part-Time School Crossing Guard for up to a minimum of 20 hours a week, with a starting salary of $12.02 hourly. Working under the supervision of the Police Department, duties include: facilitating safe passage of school children across high traffic streets and intersections in addition to other duties as ...

2nd Annual Love & Not Hate March Today in East Orange

July 13, 2018

EAST ORANGE, NJ - This morning the Rev. Al Sharpton will join East Orange Mayor Ted Green for their 2nd Annual Love & Not Hate March against gun violence at 8:00 AM. 

The March will begin at Hollywood Ave & Central Avenue in East Orange and will work its way to Oval Park. Once at the park there will be youth activities, vendors, music, school give-a-ways and much more.

How to Create a Powerful Case Study In-House

Last time, we looked at several popular niches for case studies. In this article, we want to outline a basic process for creating your own case studies using your in-house data.

1. Choose a Topic of Broad Interest

Chances are you have several projects you have worked on recently that would make a good case study. Choose one and start gathering your materials.

2. Choose a ...

Even More Valuable Case Study Topics

In the last article, we looked at finance and marketing topics that would make ideal case studies. This time, we want to continue looking at case studies that can help even complete beginners to the world of business improve their skills. We will look at customer relations, leadership and self-help topics.

Customer Relations

Customers are the lifeblood of any business, but it can be ...

More Essential Niches for Case Studies

Last time, we discussed how valuable business-related case studies can be in showing the way to success for aspiring entrepreneurs. In this article, we will be discussing two more important categories, finance and marketing. 


Finance case studies can offer valuable guidance for small businesses. Topics include:

* Budgeting

* Best accounting practices

  Automation ...