In the past 11 months, the Intersect Fund has received 75 applications from Perth Amboy businesses and has disbursed more than $46,000 over 19 loans.
Here’s a breakdown of the types of loans we disbursed:
- Eight credit-builder loans
- Five disaster-relief loans
- Six expansion loans
The Perth Amboy-based Jewish Renaissance Foundation helped ensure the Intersect Fund could expand its work in Perth Amboy, a city with a high concentration of entrepreneurs and one that Superstorm Sandy hit especially hard. The pins on the map at right represent locations of businesses that applied for loans; the blue pins represent disaster-relief loan applications.
The loans went to businesses such as grocery stores, restaurants, clothing stores, and more. Although the Intersect Fund is based in New Brunswick, we send our coaches and loan officers out to cities and towns throughout New Jersey. And with more than 700,000 microbusinesses in the Garden State, we’ve got our work cut out for us.