PNC Bank Contributes $50,000 to Entrepreneurial Training Institute to Support Small-Business Growth in New Jersey
Trenton, N.J. (December 28, 2004) – PNC Bank has provided an important boost to New Jersey’s successful efforts to foster the growth of small businesses by making a $50,000 contribution to the Entrepreneurial Training Institute (ETI).
The innovative ETI program is an eight-week course offered twice each year by the New Jersey Economic Development Authority (EDA) and the New Jersey Development Authority for Small Businesses, Minorities’ and Women’s Enterprises (NJDA), whose programs are managed by the EDA. It offers practical information and guidance that has helped attendees develop a strategic, organized, step-by-step development plan for their own business or not-for-profit entity.
“We appreciate PNC Bank’s contribution to the ETI program and its commitment to supporting the success of New Jersey’s entrepreneurs, particularly women and minorities,” said EDA Chief Executive Officer Caren S. Franzini. “Supporting the development of new and aspiring small-business owners and not-for-profits helps create new jobs, strengthens the state economy, expands needed services and builds stronger communities.”
“PNC is committed to supporting entrepreneurial development programs like the ETI program, which will help individuals from diverse backgrounds learn the important skills needed to successfully start a business or build capacity for a non-profit organization,” said William Best, senior vice president and Northeast territory manager for PNC’s Community Development Banking Group. “Our partnership with the EDA and our funding of its ETI program will assist fledgling entrepreneurs as they strive to become successful business owners and non-profit organizations across our state.”
Part of the funds will be used to support Hispanic outreach efforts to identify and assist Spanish-speaking entrepreneurs being carried out in conjunction with the UCEDC, a Union County-based economic development agency serving Monmouth, Morris, Ocean, Passaic, Somerset and Union counties. The rest will support post-graduate mentoring services being provided to not-for-profit organizations through the Seton Hall University Institute on Work by the National Executive Service Corps.
More than 1,000 students have earned ETI graduation certificates since the program began in 1992, including a record 136 individuals who successfully completed the fall 2003 and spring 2004 sessions. Spring 2005 classes will begin in February and March in Jersey City, Lakewood, Mount Laurel, Newark, Pleasantville, Somerville, Trenton, Union, West Paterson and Woodstown. For information about the program, visit the EDA website at www.njeda.gov or call the ETI at (609) 292-9279.
PNC Bank is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the nation’s largest diversified financial services organizations providing consumer and business banking; specialized services for corporations and government entities including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
The EDA provides financing and technical support to encourage business and job growth in New Jersey. The NJDA offers financing, technical assistance, training and mentoring programs to small businesses, especially woman-owned and minority-owned enterprises.