Empowering People
& Revitalizing the Community

LAEDA Brings Small Business Financing Series to Atlantic City

Posted on 5/2/2022 by Ray Lamboy

Atlantic City, NJ— On Wednesday, April 20, 2022, the LAEDA’s Small Business Financing Series wrapped up at the Chelsea Pub & Inn in the Chelsea neighborhood of Atlantic City. LAEDA partnered with Chelsea EDC to provide business training and help administer the Small Business Capital Grant Program, which is designed support the growth and development of businesses in Atlantic City.

The 5-week series provided local business owners with valuable information on how to prepare to access financing to grow their business. The classes provided an overview of small business financing, how to apply for a commercial loan, the impact of your personal finances on your business, and credit management.

The last night of class focused on reviewing next steps for financial readiness and the presentation of 27 Certificates of Completion to attendees. 


Ana Salazar, owner of Sabor Salvadoreño on Atlantic Ave has been running her Salvadoran Restaurant and Pupuseria for the past 5 years.  


“I want to keep growing my business and hire more employees here in Atlantic City. An important part of expanding my business is building credit to take advantage of financing offered to business owners like me, and this class helped provide steps on how to do this,” explained Ana. 


Jamila Powell, WBC Program Manager provided the attendees with an overview of the capital grant program and emphasized the importance of investing in long-term assets.


“I like to refer to this as the ‘gift that keeps giving’; the long-term strategic assets that you acquire as a business owner will serve you more over time that short-term purchases. What is something that you can invest in that will help you move your business forward in a meaningful way?” 


Businesses located in the Chelsea EDC service area that meet requirements are able to apply for grants up to $10,000 through the Chelsea Economic Development Corp (EDC) Capital Grants Program. The capital grant can be used to invest in facade or interior improvements, POS systems, commercial vehicles, tools & equipment, computer systems, e-commerce enhancements, and office furniture & fixtures.


The Chelsea Economic Development Corp (EDC) Capital Grants Program is an effort to invest in the brick and mortar commercial businesses in the Chelsea EDC target area. The goal of this program is to improve the competitiveness of these businesses and to better serve the community. Chelsea EDC has partnered with LAEDA, Inc. to manage the grant application process and to provide assistance to Chelsea businesses. Chelsea EDC is a subsidiary of Atlantic City Development Corporation.