Jersey Desk - East Orange Workshop Empowers Small Business Owners with Financing Insights for Growth

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EAST ORANGE, N.J. - JerseyDesk -- The East Orange Professional Development Workshop Series continued on Wednesday, November 13, 2024, with Session 6: "Funding Your Dreams in the Urban Hub." This session, focused on helping local small business owners navigate financing options, featured guest speaker Alicia N. Robinson-Riche, Branch Manager and Assistant Vice President of Citizens in East Orange. With over 35 years of banking experience, Robinson-Riche offered invaluable guidance on securing financing to help businesses grow and thrive.

Robinson-Riche provided attendees with a comprehensive overview of financing options available for small businesses at various growth stages, empowering participants to identify funding sources suited to their needs. Using a case study of "The Juice Shop," a small business poised for expansion, she illustrated practical applications of financing strategies that attendees could relate to their own businesses.

Workshop Highlights:

Know-How 1: Exploring Financing Options – Robinson-Riche detailed various funding sources, from self-financing and angel investors to traditional bank loans and alternative non-profit lenders, matched to each business stage.
Interactive Group Discussions – Participants engaged in breakout sessions to discuss real-world funding challenges, sharing successful strategies for securing capital.
Know-How 2: The Five C's of Credit – The session provided an in-depth look at the Five C's of Credit (Capacity, Collateral, Credit History, Conditions, and Character), equipping business owners with strategies to enhance their credit profiles and improve access to funding.

Attendees were encouraged to complete a post-session self-assessment on the Five C's of Credit, helping them pinpoint strengths and areas for growth. This ongoing support enables East Orange entrepreneurs to extend their financial empowerment journey beyond the workshop.

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"Our goal with the East Orange Professional Development Workshop Series is to equip local entrepreneurs within the Urban Enterprise Zones (UEZ) in the City of East Orange with the knowledge and confidence to become UEZ Certified and pursue their dreams," said Anna D. Banks, Founder and Managing Director of Thrive Leadership Institute, Inc. "By offering actionable insights on topics like financing, we're helping to bridge the gap between aspiration and achievement, empowering small business owners to thrive in our community."

This workshop is part of a broader initiative led by Anna D. Banks through Thrive Leadership Institute, Inc., dedicated to supporting East Orange's small business community by providing resources, skills, and mentorship to foster long-term success.

For more information about the East Orange Professional Development Workshop Series or to apply for UEZ certification, please contact the East Orange Economic Development Department at economic.development@eastorange-nj.gov.

To learn more about Anna D. Banks or Thrive Leadership Institute, Inc., visit https://AnnaDBanks.com or www.ThriveLeadershipInstitute.com

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