Project Enterprise is a non-profit Community Development Financial Institution (CDFI).

Our Mission is to support and develop entrepreneurs and small businesses in under-resourced communities in New York City. By providing micro loans, business development services and networking opportunities, Project Enterprise helps entrepreneurs increase their standard of living, create jobs for their communities, and build financial assets.

Project Enterprise (PE) is a non-profit Community Development Financial Institution that provides technical assistance, peer support, and business loans to low income New Yorkers who lack adequate access to business financing. The microenterpreneurs who receive loans and assistance from PE create jobs for themselves and for their neighbors, and help keep money circulating in their communities, further raising living standards and promoting economic growth.

PE works with MWBEs in New York’s most under-resourced neighborhoods across Upper Manhattan, the Bronx, Brooklyn and Queens. According to the 2000 Census, the median household income in these communities ranges from $27,214 to just $20,444 compared to the citywide median of $39,939. Many individuals in these communities develop and manage microbusinesses as a means of employment. PE was established to provide business training and loans to those who, without credit history or collateral, do not qualify for, or have access to, traditional forms of business financing.

A disproportionate number of low-income and minority entrepreneurs lack access to financial capital to start of expand their business. According to the Neighborhood Economic Development Advocacy Project, the non-white neighborhoods PE’s entrepreneurs live and work in have on average 1 bank branch for every 10,000 resident compared to 2 or 3 per 10,000 in predominantly white neighborhoods. The simple lack of bank branches fosters an environment for predatory lending practices by check cashing and payday loan companies that are vastly more prevalent in low-income and minority neighborhoods.

As a result, the capital available in non-white communities often comes at a disproportionately higher cost. Predatory lenders charge usurious fees and even banks often redline non-white communities and charge higher interest rates for the perceived riskiness of the loans. Many entrepreneurs turn to their credit cards to finance the start up of their businesses paying interest rates upwards of 20%.

Project Enterprise works with entrepreneurs regardless of their prior business experience or current business status. Upon intake, 52% of entrepreneurs had at least 1 year of prior experience running a business of some kind, however 48% had no prior experience. Additionally, upon intake, 55% of entrepreneurs who join PE are just starting their businesses and have had no sales yet. Another 12% of entrepreneurs have been operating their business for less than 6 months and 33% have been in business for more than 6 months.


Project Enterprise’s program is a comprehensive strategy for delivering microcredit, technical assistance and networking opportunities to low-income entrepreneurs in New York City’s economically disadvantaged communities. Not only does PE provide business training and microcredit to MWBEs, but the nature of the program provides members with unique leadership development and networking opportunities integral to the success of their microbusinesses. This is often the first opportunity these individuals have had to develop their leadership and networking skills.

Project Enterprise’s Program is unique in several respects:

• PE is able to serve individuals other programs often exclude by not requiring prior business experience, credit history or collateral. Instead, participation in peer groups serves as collateral.
• While some programs provide job training, Project Enterprise prepares individuals to become self-employed by providing the tools they need to start or expand their own business.
• Ongoing business training, which is essential to entrepreneurs, is integrated into PE’s Peer Lending Program.
• PE works with low-income New Yorkers who have existing businesses, as well as those who are in the start-up stage, and offers products that grow with entrepreneurs’ businesses.
• Perhaps most importantly – and unparalleled – Project Enterprise provides entrepreneurs with a network of like-minded microbusiness owners to support members as they navigate the world of developing their own business.
  
  
  Project Enterprise plans to continue growing to meet the needs of low-income and minority entrepreneurs in New York City. To view our projections click here.
  
  In order to sustain PE's expansion efforts, PE staff and board members work to secure funding from private foundations, government agencies, banks, corporations and individual donors. Project Enterprise is supported by a variety of organizations, individuals and institutions. To see a list of our funding sources click here.