DCA Announces Micro-Business Credit Initiative for N.J. Women Veterans
Program Allows Women Veterans to Receive Business Training & Low Interest Loans

TRENTON - Governor Jon S. Corzine today lauded the announcement by Department of Community Affairs Commissioner (DCA) Acting Commissioner Charles A. Richman of DCA's new collaborative initiative with the Department of Military and Veterans Affairs' (DMAVA) New Jersey Commission on the Status of Women Veterans that will provide assistance to New Jersey's women veterans. The partnership will afford women veterans the opportunity to receive business training and apply for a loan of up to $5,000 to become an entrepreneur through DCA's New Jersey Women's Micro-Business Credit Program at an amended interest rate of a half of a percent versus the current three percent rate.

"I am proud to honor all New Jersey military veterans by focusing on their unique needs and priorities. It is the least we can do for those among us who step up to serve their country," said Governor Corzine. "With the addition of the micro-business initiative for women veterans, we continue to move forward and ensure that New Jersey's servicemen and women receive the kinds of services and programs that will facilitate their needs and the needs of their families, too."

The New Jersey Women’s Micro-Business Credit Program is a collaborative economic development program implemented by DCA's Division on Women (DOW) and New Jersey Redevelopment Authority (NJRA), a DCA affiliate. The program helps women with minimal business experience become successful entrepreneurs. Participants learn how to start, market or expand their small business, as well as increase their business skills through training and mentoring opportunities.

"New Jersey's women veterans now have an added incentive for choosing entrepreneurship as an alternate career," said DCA Acting Commissioner Richman. "This unique initiative will provide them with innovative training and loan opportunities for re-entering the marketplace."

According to the US Department of Veterans Affairs' website, the population of women veterans in New Jersey as of September 2008 was 28,739.

"During these challenging economic times, the micro-business credit program is a critical strategy designed to help women veterans build financial momentum," said DOW Director Janice L. Kovach. "I am pleased that this initiative will provide our military she-roes with the tools and opportunities they may need to learn, grow and expand their financial resources."

For more information on DCA's micro-business initiative, contact NJAWBO, the statewide agency for the New Jersey Women's Micro-Business Credit Program, at 973-507-9700 and/or visit DCA's website at http://www.nj.gov/dca/divisions/dow/programs/njwmbcp.html.