Empowering People
& Revitalizing the Community

Investors' grants benefit LAEDA training program

Posted on 3/2/2017 by EDTP Coordinator in LAEDA News

Starting your own business can be challenging, but thanks to the Latin American Economic Development Association (LAEDA), its Entrepreneurial Development Training Program (EDTP), and two grants totaling $5,000 from the Investors Foundation and the Roma Community Bank Foundation, it may be getting a little easier!

 According to LAEDA President & CEO Raymond Lamboy, the EDTP was created to offer an alternative route for employment for individuals who are economically disadvantaged. "The idea," said Lamboy, "is to help people start their own business. The program serves as a pipeline of new businesses in the area." Lamboy explained that the EDTP helps people open businesses based on their interests and knowledge, as well as the needs of the market in the commercial districts in Camden, as they are identified through the Commercial District Revitalization Initiative (CDRI, and the LAEDA Business Services Center (LBSC).

CDRI, according to Lamboy, is a program to stimulate growth and expansion of the small business community in Camden, by identifying the types of businesses needed in key communities. The LBSC coordinates the technical assistance, business counseling and educational opportunities business owners may need to relocate their businesses to Camden.

"The grants from the Investors Foundation and the Roma Community Bank Foundation will enable us to continue the work of the EDTP, and provide potential business owners with the necessary skills, information and confidence to open and succeed in creating and maintaining their own businesses," said Lamboy.

LAEDA applied for the grants from the Investors and Roma Community Bank Foundations, which support non-profit organizations that enrich the diverse communities served by Investors Bank. Roma Bank became part of Investors Bank in December 2013.

Investors' Hector Melendez, Assistant Vice President, Voorhees Branch Manager, said "Investors is pleased to be able to provide assistance to LAEDA's Entrepreneurial Development Training Program. Assisting those who are willing to put in the hard work and effort to create, manage and grow their own businesses is so important to Camden -- not just from an economic standpoint, but for what it means to the whole community to have new businesses opening here.

Original article submitted by: Jane Humes for nj.com