The Trenton Microloan Collaborative provides: 

Microloans:

★ Microloans for up to $2,000.00 with no interest charged.

★ This financing option is for formerly incarcerated/returning citizens who generally don’t have access to other sources of capital.

★ Loan proceeds are typically used for equipment purchases, site improvements, working capital, inventory, materials, or supplies.

Services and Support:

★ Microloans for up to $2,000.00 with no interest charged for professional services based on the needs of the business owner (examples: bookkeeping, accounting, marketing, and public relations). 

★ Support can include training, hands-on coaching, consulting, and connections through the experts and professionals within The Collaborative. 

List of Trenton Microloan Collaborative Recipients (2022-2024)

2022:
Jeff Augustin - Dealz Dealz Dealz (physical storefront in Trenton): Received Pro Bono Bookkeeping/Accounting services valued at over $2,700, benefited from TMC securing a CPA firm to complete back taxes at a fraction of their normal rate, and received a generous Mercer County Small Business Grant.

Stephani Register - Recovery Is Essential: Received $2,000 loan for merchandise
 
Antonne (Tonne) Henshaw - Transformative Justice Initiative: Received Pro Bono CPA services for Tax Preparation: Estimate value $500-plus
 
Fatha Ramzee - Brainiak GFX - Graphic design and print services: Received $1,000 loan for equipment, merchandise, and marketing.

2023:

Dontae Thomas - Team Chizel (workout facility/group training): Will receive Bookkeeping/Accounting services: Up to $2,000 value, to be repaid.

Marc Highsmith - Higher expectations Cleaning Services: Received $2,000 loan: Purchased supplies & equipment to better quality of work and advertise.

William Miner - Miner Family Mobile Detailing; full service mobile auto detailing: Received $2,000 loan: Maintained parts from freezing and winterized his mobile cleaning vehicle.

Joanna Juillet - J&J Logistics Company, LLC, Freight Transport Service: Received $2,000 loan: purchased work supplies and office supplies. Pallet jack, dolly, straps etc.

2024:
Joanne Juillet - Julliet Styling, hair braiding: Received $2,000 loan: Purchased two additional stylist chairs & other equipment.

TMC Provides Vital Small Business Training to Recipients by Recruiting Community Partners

African American Chamber of Commerce, NJ

Minority Small Business Initiative
(MSBI)*

Sessions

• January 16, 2024- Session 1- Part 1 Business Planning, Part 2 Social Media Marketing, How to Increase social media following & boost Google ranking.

• January 23, 2024- Session 2- Cash Flow Analysis & Financial Statement Development.

• January 30, 2024- Session 3- Accounting & Bookkeeping

• February 6, 2024- Session 4- Capital Access Assessment (Pre- Underwriting Metrics & Required Documentation).

• February 13, 2024- Session 5- Part 1 Logo Review/Design if needed, Part 2 Capability Statement

• February 20, 2024- Session 6- Customer Service.

• February 27, 2024- Session 7- Website- Part 1 Review of Chamber Nation site developed as a Benefit of Chamber Membership and other Chamber benefits as part of completing the program each cohort member will sign up for membership during this session. Bonus Session- Part 2 Access to Capital and Business Credit. (Phillip Woolfolk)

*The MSBI pilot consisted of ten modules over seven weekly two-hour sessions.