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Kevin Seawright Shining a Path for Small Businesses to Follow

CrunchBase shows pretty clearly how Kevin Seawright has risen up the financial industry career ladder to become not only the Chief Financial Officer but also the Senior Vice President for the Economic Development Corporation for Newark Community. In an interview with Dhiren Shah, Seawright explained the role and position of the corporation in financing small and medium businesses.

Origin of Newark Community EDC

The corporation was rebranded from Brick City Development Corporation because it wanted to get a wider scope of operation. The aim was to serve the whole city of Newark by providing business loans to small businesses at affordable interest rates.

Helping new startups

The EDC employs a team of highly skilled and knowledgeable staff that helps new startups and small businesses sustain their operations and survive in the market. Their loan specialist, Lexie Demirali, is always available to help businesses that seek assistance from the corporation. In addition, further assistance offered include advice on handling finances, credit reporting and tax returns. Since inception the corporation has provided assistance to 53 new businesses resulting to 88 new hires.
Source of funding

The EDC partners with other local financial institutions such as banks and other EDCs operating in the city. They also work closely with SBA. The corporation offers loans up to $25,000 for small businesses while anything above this amount is sourced from other financial partners.

Kevin seawright and the newark community economic development corporation from Kevin Seawright

Human resource at Newark Community EDC

The staff of the corporation is undeniably one of their biggest assets. It is dedicated to helping the community by sourcing for new businesses, offering incubator classes and providing other assistance like financial advice. Additionally, each ward is allotted two staff members to help people at the community level.

Challenges businesses face

Seawright reiterated to WorldClassMagazines that the biggest challenges many businesses face is the poor filling of business taxes and poor credit scores. The minimums score required to take a loan from the corporation is 650.

About Kevin Seawright

Seawright has a 13 year experience in the financial sector working in various capacities throughout his illustrious career. He has worked for various local government agencies in different financial capacities. His vast experiences include working in different sectors like real estate, education, housing as well as small business development. This has made him the perfect fit for the Newark Community EDC.  Kevin Seawright is active on social media, find him on Twitter.

One thought on “Kevin Seawright Shining a Path for Small Businesses to Follow

  1. Linda Shem

    The corporation does not favor any group of people in the community based on sex, status or race. Their only criteria is the viability and feasibility of the business in question. I do know for sure that to rush my papers is really a recipe for disaster.

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