Since its beginning in 2015 Kevin Seawright has been a guiding force in the Newark Community Economic Development Corporation. The CEDC has a citywide development plan with the goal being to help small business in all areas of town.
Be it a clothing store, or small grocery these businesses can come to the CEDC for help with small loans. According to Crunchbase, Kevin Seawright has been the Senior Vice President and Chief Financial Officer for over a year, working tirelessly to improve the chances for small business success in the Newark area.
The CEDC has a loan specialist on staff and the door is always open to anyone interested in opening a small business in Newark. Kevin says that once criteria has been met, they begin the process of making the loan to help get a business up and running. The admiral goal of this organization to help a small business move up to something more has already been met several times, and the future looks brighter for many of them thanks to Kevin Seawright and his dedicated staff.
The CEDC works with other EDCs, the SBA, as well as banks active in the area. They believe all business matters, and you don’t have to be female or part of a minority to qualify for their help. If the idea is a good one, it gets the same attention and care no matter who’s it is. According to Kevin, the only real requirement, other than the idea itself is the business does have to be located in Newark.
Benefiting the entire community is why the CEDC even exists, and according to Kevin Seawright, they offer a weekly “incubator class” to help in business development. The course takes 12 weeks, and once completed, a small grant is offered to anyone who graduates the course.
They even help find locations for the fledgling business to operate from. With this kind of help, even the smallest business idea has its chance to grow into something much bigger.
Small loans offered through CEDC also come with small interest rates. The idea is not to bury a new business in debt, but to help the “little guy” move forward to success. According to Seawright, the city of Newark is “an oyster, ready to open up and shine.”
Small businesses often grow into larger ones and this can only be good for everyone in the city. With help from CEDC in all phases of opening a business from training in financial stability, employee and business taxes, as well as financial reporting, new business has the opportunity to not only open up, but stay that way.
In the short time it has been operating, Kevin Seawright and his team of professionals at the CEDC have helped 53 new businesses get their start in Newark, and as a result 88 new jobs came into being. Without new business, a community can tend to go “stale”, or worse, slip into decline.
With organizations like the CEDC, and men like Kevin behind them, that is not likely to happen in Newark. He continues to move forward, and so does the city. Market Street shows several new businesses now and most of them would not likely be there today without the help they received from the CEDC.