Harlem Entrepreneurial Fund
We invest with rigor in local businesses, especially those owned by women and people of color in the Harlem community, by providing access to capital, skills, and markets. We have launched Growth Path, a small business advisory service designed specifically to help scale minority and women-owned businesses in the community. We offer the MWBE Accelerator, to make the procurement of minority and women-owned businesses (MWBEs) easier by connecting small businesses directly to contract opportunities. We host Harlem Entrepreneurial Fund's four-month business education program utilizing Interise’s Streetwise ‘MBA'TM curriculum designed to accelerate the growth of businesses owned by minorities and women.
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Mission
Our mission is to stimulate economic development in Harlem and surrounding communities through the creation and support of business enterprises, the generation and retention of jobs, and the education of residents.
Storytelling
LaChena Clark, owner of Sudsy Water Laundry visited the Harlem Entrepreneurial Fund (HEF) during January 2017. She was seeking $60,000 to expand her business located in Upper Manhattan. Ms. Clark received assistance with loan packaging from the Harlem Entrepreneurial Fund and the NYC Business Solutions Center/Upper Manhattan.
Ms. Clark’s final application packet was accepted by HEF during March 2017, and was approved in summer 2017. As a result of the loan capital, Ms. Clark has expanded her business to include a Dry Cleaning Drop Store that will enable her customers to leave their laundry for dry cleaning and laundry services. Ms. Clark is planning on hiring 2-3 additional employees.
“The loan from Harlem Entrepreneurial Fund has helped us to not only expand in the community, but has given us the opportunity to leverage our business income. For that reason, we are now scouting a new location in West Harlem to offer additional dry cleaning and laundry services. The future looks promising,” said Ms. Clark.
Our Impact (2022)
277 individuals served
3 training programs or workshops offered
10 funding partners
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Type of Organization
- Community Economic Development Organization
- Lending Organization
Locations Served
- Metropolitan New York City
- Harlem
- Jamaica, Queens, New York
Key Programs and Initiatives
- Business Education Program
- Growth Path
- MBE Accelerator
Types of Offerings
- Financing
- Capital
- Entrepreneurial Training
- Workshops
- Matchmaking/networking opportunities
- 1 to 1 business advising
- Mentoring/coaching
- Cohort Training Programs
Program Delivery
- In Person
- Hybrid (in person/virtual)
Members of the Black Community Served
- Immigrants
- Returning Citizens/Formerly incarcerated
- Women
- Youth
- Veterans
- 65+/Senior Citizens
Locations of Members of the Black Community Served
- Low-income areas
- Low to moderate income areas
- Suburban areas
- Urban areas
Targeted Entrepreneur Segments
- Business Services
- Construction
- Manufacturing
- Wholesale & Retail Trade
- Accommodation & Food Services
- Transportation & Logistics
- Media & Publishing
- Health Care & Social Services
- Technology & Software Development
Business Stage
- Start Up : a young business that is just beginning to develop and determine a market fit.
- Stay Up : a business that has determined its market fit, but its product/service has not been validated nor has it achieved sustainability.
- Scale Up : a business that already validated its product in a market and has proven sustainable.
Cost of Programs
- $101-$200