In a high-energy press conference at the New Jersey Performing Arts Center (NJPAC), the new nonprofit BrightStreet officially launched its mission to revolutionize small business lending in Brick City. Joined by Newark Mayor Ras J. Baraka and Super Bowl XLIV Champion Marques Colston, the organization’s founders and its first cohort of entrepreneurs used sledgehammers to literally break down a faux brick wall—symbolizing the removal of barriers to capital, mentorship, and technology.
While micro-businesses (fewer than 10 employees) represent 95% of all U.S. enterprises, they face loan denial rates more than double those of larger firms. BrightStreet aims to bridge this gap by providing affordable loans, grants, and hands-on operational support to Newark’s “solopreneurs” and startups.
“BrightStreet is a nonprofit, but it is not a charity,” said Founder Rob Falzon. “It is a sustainable economic engine that empowers individuals to create their own success stories.”
Meet the Inaugural BrightStreet Cohort
Three Newark-based visionaries were awarded oversized checks and access to exclusive business development resources:
- Jennifer Lopez (Lopez & Associates Behavioral Consulting): Awarded $50,000. As a Board Certified Behavior Analyst, Lopez provides critical autism therapy to Spanish-speaking families. The loan will help her hire therapists to meet a 75% Medicaid-based demand.
- Al Shakise (BWS Massage): Awarded $20,000. A Newark native, Shakise is scaling from gig work to a branded enterprise after securing a state contract to serve disabled clients.
- Undra Duncan (Undra Celeste New York): Awarded $50,000. This nationally recognized fashion designer will use the capital to fulfill major wholesale orders and expand her brand’s production during a shifting retail climate.
A Sustainable Model for Urban Wealth
The BrightStreet Newark launch signifies a shift toward “wrap-around” financial services. By pairing low-interest capital with professional guidance, BrightStreet ensures that entrepreneurs in low-income communities aren’t just funded, but are equipped with the tools to build generational wealth.
