As a city brimming with entrepreneurs, New Orleans is the starting point for many innovative businesses – Dreamy Weenies, MobileQubes, and Golden Feather are just a few examples. However, creating a business from scratch requires capital, which isn’t always easy to come by. That’s why NewCorp Inc. specializes in helping small, minority and women-owned businesses through loans and other funding. Learn more about NewCorp below.
20 Years of Support
NewCorp, Inc. started in 1995 as a nonprofit and certified Community Development Institution (CDFI). Beyond providing financial assistance to emerging businesses, NewCorp provides a comprehensive approach that includes training, counseling, planning and access to financial products and services.
Throughout its 20 years in operation, NewCorp has focused specifically on Orleans and Jefferson parishes while also emphasizing small businesses in St. Bernard, St. Tammany, St. John, St. Charles and Plaquemines parishes. However, businesses throughout the entire state are eligible for NewCorp funding.
Success is rarely possible without the help of others. At NewCorp, they’ve partnered with three agencies to amplify their ability to aid local businesses. One partner, The Idea Village, focuses on entrepreneurs and produced New Orleans Entrepreneur Week last month. Other partners include Capital Access Project, a nonprofit with objectives similar to NewCorp, and Good Work Network, a provider of business development services for community-based businesses that serve families.
How to Apply for Funding
NewCorp features an online application where interested parties can submit details of their business and provide pertinent documentation in hopes of receiving financial assistance. Typical information required includes a background and resume, your business’s financial statements and tax returns, personal tax returns, and articles of incorporation. If you’re interested in creating a startup, you’ll also need to submit a business plan.