LAEDA Receives Support

January 31, 2017

Investors Bank Foundation Supports LAEDA Entrepreneurial Development Training Program

Opens Opportunities for New Businesses in Camden
 

ROBBINSVILLE, New Jersey – Starting your own business can be challenging, but thanks to the Latin American Economic Development Association (LAEDA), its Entrepreneurial Development Training Program (EDTP), and two grants totaling $5,000 from the Investors Foundation and the Roma Community Bank Foundation, it may be getting a little easier!

According to LAEDA President & CEO Raymond Lamboy, the EDTP was created to offer an alternative route for employment for individuals who are economically disadvantaged. “The idea,” said Lamboy, “is to help people start their own business. The program serves as a pipeline of new businesses in the area.” Lamboy explained that the EDTP helps people open businesses based on their interests and knowledge, as well as the needs of the market in the commercial districts in Camden, as they are identified through the Commercial District Revitalization Initiative (CDRI, and the LAEDA Business Services Center (LBSC).

CDRI, according to Lamboy, is a program to stimulate growth and expansion of the small business community in Camden, by identifying the types of businesses needed in key communities. The LBSC coordinates the technical assistance, business counseling and educational opportunities business owners may need to relocate their businesses to Camden.

“The grants from the Investors Foundation and the Roma Community Bank Foundation will enable us to continue the work of the EDTP, and provide potential business owners with the necessary skills, information and confidence to open and succeed in creating and maintaining their own businesses,” said Lamboy.

LAEDA applied for the grants from the Investors and Roma Community Bank Foundations, which support non-profit organizations that enrich the diverse communities served by Investors Bank. Roma Bank became part of Investors Bank in December 2013.

Investors’ Hector Melendez, Assistant Vice President, Voorhees Branch Manager, said “Investors is pleased to be able to provide assistance to LAEDA’s Entrepreneurial Development Training Program. Assisting those who are willing to put in the hard work and effort to create, manage and grow their own businesses is so important to Camden – not just from an economic standpoint, but for what it means to the whole community to have new businesses opening here.

“Investors Bank is committed to helping communities grow and prosper,” said Assistant Vice President, Cherry Hill Branch Manager Marylynn Harkinson. “Our mission as a community bank is to ensure that we do whatever we can to make a difference in the lives of the people and local neighborhoods that we serve.”

LAEDA

Photo Caption: Investors Bank’s Assistant Vice President, Cherry Hill Branch Manager Marylynn Harkinson (left) and Hector Melendez, Assistant Vice President, Voorhees Branch Manager (right) present Latin American Economic Development Association President & CEO Raymond Lamboy with checks totaling $5,000 from Investors Foundation and the Roma Community Bank Foundation to support programming for the organization’s Entrepreneurial Training Program.

 

About the Investors Foundation

The Investors Foundation supports non-profit organizations that enrich the quality of life in the communities the Bank serves. To date, the Foundation has dispensed more than $15 million to support initiatives ranging from community and civic improvements to the fight against diseases.Investors Bank, headquartered in Short Hills, New Jersey, is a full-service community bank that has been serving customers since 1926. With over $23 billion in assets and a network of more than 150 retail branches, Investors delivers personalized services and products tailored to the needs of its customers. Investors’ banking services include complete deposit, loan and cash management products for consumers and businesses. 

About the Latin American Economic Development Association, Inc.

The Latin American Development Association, Inc. (LAEDA) was incorporated in New Jersey in 1987, as a nonprofit, 501 (c) 3 tax-exempt corporation. The organization was established through the efforts of the National Puerto Rican Coalition along with local community and business leaders to create economic opportunities for minorities, while facilitating the redevelopment of Camden City. LAEDA is dedicated to the creation of small business ownership opportunities for all minorities, to contribute to the growth and success of small businesses, and the development of the marketplace in the communities it serves. LAEDA is a successfully governed and managed minority enterprise.

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