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LAEDA's Alumni Networking Event- Alternative Ways to Finance Your Business

Posted on 2/17/2020 by EDTP Coordinator in LAEDA News
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Camden, NJ- On Thursday February 13, 2020 our LAEDA’s Entrepreneurial Development Training Program (EDTP) and Women’s Business Academy Alumni got together for our Alumni Networking Event: Alternative Ways to Finance Your Business. In this networking event our Alumni learned the fundamentals of accessing capital through various methods other than traditional lending.

 This event gave our alumni the time to not only mix and mingle but also learn about new programs for small business owners. First, all alumni introduced themselves one-by-one, spoke about their business and where they currently were on the entrepreneurial journey. Afterward, staff members introduced themselves and the role(s) they have at LAEDA and LAEDA WBC. Next, Jamila Powell, WBC Program Manager spoke about the importance of creating connections and relationships. “Our staff believes that valuable relationships, whether professionally and or personally, are important since the more moments people share together, the more vital lessons are learned and the easier to journey to a successful business,” she stated. 

Then, LAEDA’s Business Services Center Program Manager, Kathryn Harrison began the evening’s discussion by explaining LAEDA Individual Development Account (IDA) powered by the United Way. “It is a savings match program for small businesses and the opportunity to access capital for a growing business. The United Way truly works with you and your business to make a match,” Ms. Harrison stated. She continued, “If you qualify, you can participate in the program. The application to this program is live and on the main page of LAEDA’s website”.

Later, Ms. Powell spoke about the new NJ Economic Development Authority (NJEDA) Micro Business Loan Program. This program has up to $50,000 for equipment working capital.  “This loan is available to startup and existing businesses. There is a requirement that individuals must receive business training and/ or counseling so we want to encourage you, as alumni, to take advantage of business counseling through the Women’s Business Center,” she stated. “If you are interested in business counseling the doors are always open so I encourage you to build your resources and the business even more,” she added. 

Last, everyone ate dinner provided by the LAEDA WBC, shared valuable insights, and exchanged business cards. By the end of the night, all who participated walked away with knowledge of LAEDA’s valuable resources as well as a support system of not only LAEDA staff but also like-mined entrepreneurs.  

LAEDA offers seminars and short-term course in various counties of South Jersey throughout the year. A long-term course is also offered three times per year where entrepreneurs receive 72+ hours of training from industry professionals, business planning, and business counseling. The program is free, but you must qualify. 

LAEDA welcomes you to join our community of successful entrepreneurs. Visit our website at www.laeda.com or call (856) 338-1177 to learn more. Also, if you are a small business owner interested in the LAEDA Individual Development Account Program for Small Business, click here to apply.