| New Jersey City University intends to use its Hispanic-Serving Institutions Assisting Communities (HSIAC) grant to implement its E2 (Enterprise and Economic) Development Initiative to significantly enhance economic development activities in the Jersey City urban community, particularly among low- and moderate-income (LMI) entrepreneurs. The initiative will employ a combination of proven strategies and best practices—customized assessment, intensive training and education, incubation, mentoring/coaching, and low-interest loans—to achieve its aim of establishing, sustaining, and expanding 120 LMI-run microenterprises, creating higher than minimum wage jobs, and revitalizing depressed neighborhoods in Jersey City, New Jersey. Each participant will receive a one-on-one assessment of their business needs. Based on the analysis, each LMI entrepreneur will develop action plans in concert with program staff that will establish, sustain, or expand his/her microenterprise.
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