About Rising tide capital
Rising Tide Capital: Empowering Entrepreneurs to Build Stronger Communities
Rising Tide Capital is a non-profit organization that is committed to empowering entrepreneurs and small business owners in underserved communities. Headquartered in Jersey City, NJ, the organization was founded in 2004 by Alfa Demmellash and Alex Forrester with a mission to transform lives and communities through entrepreneurship.
The founders of Rising Tide Capital recognized that many people in low-income neighborhoods lacked access to resources and support needed to start or grow their own businesses. They saw entrepreneurship as a powerful tool for economic empowerment, job creation, and community development. Thus, they set out to create an organization that would provide aspiring entrepreneurs with the skills, knowledge, networks, and funding necessary to succeed.
Over the years, Rising Tide Capital has become a leading force in the field of entrepreneurial development. The organization has trained over 2,500 entrepreneurs from diverse backgrounds through its Community Business Academy (CBA), which offers an intensive 12-week course on business planning, marketing strategy, financial management, legal issues and more. The CBA also provides ongoing coaching and mentoring services for graduates who are starting or growing their businesses.
In addition to its training programs for entrepreneurs,Rising Tide Capital also offers microloans up $10k through its Community Loan Fund (CLF). These loans are designed specifically for small business owners who may not qualify for traditional bank loans due to lack of collateral or credit history.Rising Tide Capital's CLF provides flexible terms,such as low-interest rates,fixed repayment schedules,and no prepayment penalties,to help borrowers succeed.
One of the unique features of Rising Tide Capital's approach is its emphasis on community building.The organization recognizes that entrepreneurship can be isolating,and it seeks to create supportive networks among its graduates.Through events like "Meet Your Mentor"and "Community Business Matchmaking,"entrepreneurs have opportunities connect with other business owners,vendors,buyers,and investors.This helps them build relationships that can lead new customers,suppliers,collaborators,and even lifelong friends.
Another key aspect of Rising Tide Capital's work is advocacy.The organization works closely with policymakers at all levels - local,state,and federal -to promote policies that support small businesses.For example,RisingTideCapital played an instrumental role in passing New Jersey's Crowdfunding Law,in 2013 which allows startups raise capital from non-accredited investors online.This law has helped many early-stage companies get off the ground without relying solely on venture capital firms or angel investors.
Overall,RisingTideCapitalis making significant strides towards creating more equitable,economically vibrant communities across New Jerseyand beyond.By providing aspiring entrepreneurs with education,microloans,networks,and advocacy,theorganizationis helping them turn their dreams into reality while strengthening local economies.In doing so,it is proving that entrepreneurship can be a powerful force for positive change when it is supported by dedicated organizations like RisingTideCapital.
risingtidecapital.org