Newsroom

Renaissance’s 25th Year Celebration

Renaissance is excited to celebrate 25 years of transforming the small business landscape in low-to-moderate income and immigrant communities in New York City. Throughout 2022, we will be highlighting some of the 10,000+ small business owners and entrepreneurs we have served with culturally appropriate small business services and access to capital since our founding in…

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Predatory Lending is on the Rise – What Small Business Owners Need to Know

Since COVID-19’s outbreak, REDC has noticed an increase in clients who have fallen victim to predatory financing schemes that rely on misleading numbers and terminology to disguise extremely high rates of repayment. REDC has now analyzed several such cases and noticed many similarities. One critical tactic is not presenting the product as a “loan” at…

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AAFE AND RENAISSANCE EDC ANNOUNCE $1 MILLION EMERGENCY LOAN FUND TO AID SMALL BUSINESSES DISPLACED IN FLUSHING FIRE

Asian Americans for Equality (AAFE) and Renaissance Economic Development Corp. (REDC) announced the creation of the FLUSHING DOWNTOWN FIRE EMERGENCY LOAN PROGRAM, a $1 million loan fund to assist small businesses impacted by the devastating fire at East Commercial Plaza, 40-10 Main St., on March 17, 2022 The early morning five-alarm fire gutted the commercial…

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Renaissance Launches New Advisory Committee to Better Serve Latinx Entrepreneurs – Meet the Women Members

Renaissance recently launched an advisory committee that aims to improve our outreach to small businesses in Latinx communities. The committee’s four members include two women, Miriam Colon, Acting Director of the Brooklyn Small Business Development Center at the NYC College of Technology, a prior business owner herself who now uses her experience to counsel business…

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Renaissance receives CDFI grant award totaling over $700,000

Renaissance is proud to announce that we are the recipient of a U.S. Department of the Treasury Community Development Financial Institutions (CDFI) Fund grant awarded to support increased lending to small businesses. The CDFI Fund plays a vital role in generating economic growth and opportunity in some of our nation’s most distressed communities. This award…

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Mayor Adams Hosts NYC’s AAPI Community

On February 15, REDC Managing Director Jessie Lee had the pleasure of attending a Lunar New Year breakfast hosted by New York City Mayor Eric Adams, along with select other AAPI NYC non-profit leaders. Jessie spoke with Mayor Adams about REDC’s remarkable impact in helping minority-owned small businesses access badly-needed affordable capital during the pandemic. REDC will…

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Owners of Simple NYC Navigate the Pandemic with the Renaissance Team at Their Side

So many small businesses were devastated by the pandemic and forced to close. The survivors summoned all of the resourcefulness and perseverance they could muster in order to make it through one of the most trying periods in New York City history.  This was the case with Simple NYC, an Asian inspired poke and bento…

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Renaissance Launches Digital Transformation Program

Wells Fargo funds initiative to support immigrant entrepreneurs Renaissance Economic Development Corp. (REDC) has kicked off a new program to help small business owners improve online visibility, attract new customers and integrate digital tools into their daily business operations. The Local Business Digital Transformation Program is made possible through generous support from Wells Fargo. The…

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REDC and CDFIs Nationwide Recognized as U.S. Dept. of the Treasury Announces Historic Investment For Community Lenders

The U.S. Department of the Treasury has awarded $1.25 billion in COVID-19 relief funds to 863 Community Development Financial institutions (CDFIs) nationwide, including Renaissance Economic Development Corporation (REDC) and AAFE Community Development Fund. It’s an historic investment in CDFIs from the federal government and a long-sought acknowledgement of the crucial role community lenders play in…

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REDC and 5 Other Groups Receive Funding From Wells Fargo to Help Small Businesses Recover From Covid

Press Release from Wells Fargo – February 12, 2021: New York – Wells Fargo has announced that six New York-based Community Development Financial Institutions (CDFIs), including Renaissance Economic Development Corporation (REDC), have received a combined $5 million from its Open for Business Fund to help local small businesses – as well as those in other…

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