Financial Support

For assistance with Financial Support, please contact:

Ladell Robbins

Chief Financial Officer & Chief Investment Officer

Office: (973) 273-1040
Email: lrobbins@investnewark.org

Invest Newark is committed to equitable economic growth by developing programs and helping you access the resources needed to build and grow a healthy business. By understanding you and your business, we will know your eligibility for available financing and incentive programs. Invest Newark both manages investment funds that support local businesses and provides referrals to other sources of capital. We seek to support businesses we help finance even after you acquire financing. 

Invest Newark additionally supports a thriving middle class by managing through several funds or direct investments. Our funds aim to empower entrepreneurs to build effective public/private partnerships, generate entrepreneurial growth and job creation, and uplift entire communities. Please find a brief description of investment funds managed by Invest Newark here and contact us to learn more by completing the Business Assistance Request Form.

The Invest Newark Infrastructure Fund (INIF):
  • A fund we co-manage with New Jersey Community Capital which provides both capital and back-office support to Newark-based Minority and Women-Owned businesses (MWBEs) participating in civil works projects. Presently, INIF is supporting MWBE subcontractors participating in Newark’s $120 million lead pipe replacement project.
Invest Newark Real Estate Fund:
  • Our real estate fund provides support to small Newark-based developers and contractors for pre-development and community-based real estate projects. Presently, we are financing local MWBE sub-contractors to renovate homes that are applicable for Section 8 vouchers for mortgage assistance.
Invest Newark Small Business Fund:
  • Our small business fund provides loans to Newark-based businesses that often require financing for working capital or fitting out new locations. 
Newark Fiber:
  • Invest Newark is the lead investor in Newark Fiber. Newark Fiber is a low-cost, higher-speed internet service provider that seeks to expand across Newark and directly combats the city’s digital divide.
PAST INVESTMENTS:

 

Food Depot – 75 1st Street || Loan Amount: $2,000,000

Food Depot was the first new supermarket in 22 years in Newark’s Central Ward.  Food Depot is a 31,000-square foot facility offering fresh produce and a range of food in what was long considered a food desert due to the lack of nutritional food options. The total project cost was $8,000,000 of which $2,000,000 was provided by Invest Newark.  Food Depot employs over 120 people of which more than 75% (approximately 90 employees) are Newark residents.

Hotel Indigo – 810 Broad Street || Loan Borrowed: $2,000,000

Hotel Indigo is a 106-room hotel located at the former First National State Bank building. At the time of re-opening in 2014, the hotel was one of the first modern offerings in Downtown Newark. The total project cost was approximately $16,000,000 of which $2,000,000 was provided by Invest Newark.  Hotel Indigo employs approximately 60 people, the majority of which are Newark residents.

CityPlex 12 – 360-394 Springfield Avenue || Amount Borrowed: $1,200,000

CityPlex 12 is a 12-screen theater which is the first all-digital, stadium seating, 3D-capable movie theater in Newark.  It is co-owned by Boraie Development and NBA legend/Newark native, Shaquille O’Neal. Invest Newark financed $1.2M of the total project cost of approximately $7,000,000. CityPlex 12 employs over 50 people and serves thousands of Newark residents annually. The theater also offers free films for children during the summer.

Teachers Village – Downtown Newark || Amount Borrowed: $1,000,000

Teachers Village is a mixed-use community in the heart of Downtown Newark, designed by world-renowned architect, Richard Meier and located on five blocks along Halsey Street and Market Street. Invest Newark helped in financing the Village which features six (6) new buildings consisting of:

• 3 Charter Schools and a Daycare
• 204 Residential Units
• 65,000 SF of Retail

47-57 Edison Place || Amount Borrowed: $500,000

The 45-57 Edison Place project consisted of the redevelopment of a dilapidated retail and office building across the street from the Prudential Arena in Downtown Newark. This building, which was in part financed by Invest Newark, is currently management by its tenants.

Seabra Foods – 219 Chestnut St. || Amount Borrowed: $275,000

Seabra Foods is a grocery retailer that is an affiliate of the Seabra Group. Seabra Group specializes in international foods. Invest Newark was part of the financing that helped grow this business in the Ironbound community of Newark’s East Ward.