Project Enterprise
{{Infobox company
| name = Project Enterprise (PE)
| logo = Pe-logo.gif
| logo_size =
| type = nonprofit organization
| industry = Financial services
| foundation = {{start date |1997}}
| defunct = {{End date|2017}}
| fate = Unknown
| location = New York City
| key_people = Mel Washington, Executive Director
| area_served = Upper Manhattan, Brooklyn, Queens and the Bronx.
| products = Loans, microfinance, and business training
| operating_income =
| net_income =
| num_employees =
| homepage = {{website |http://www.projectenterprise.org/ }} {{deadlink|date=June 2024}}
}}
Project Enterprise was an American microfinance nonprofit organization in New York City providing entrepreneurs from underserved areas with loans, business training and networking opportunities. Operating on the Grameen Bank model of microlending, {{as of |2008|lc=yes}}, Project Enterprise (PE) had served more than 2,500 entrepreneurs in New York City, and provides microloans from $1,500 to $12,000.{{cite web|url=http://www.crainsnewyork.com/article/20080713/SMALLBIZ/480477947|title=Leading microlenders|publisher=}}{{cite web |url=https://www.nydailynews.com/2008/08/09/project-enterprise-brings-microfinances-nobel-prize-success-to-the-bronx/ |title=Project Enterprise brings Microfinance's Nobel Prize success to the Bronx |date=August 9, 2008 |publisher=New York Daily News}} The organizations web site was closed in 2017.
History
Project Enterprise was started in 1997 as the only provider of business microloans in New York City that does not require prior business experience, credit history or collateral to provide market-rate financing for small businesses.{{cite news |url=http://www.canadianbusiness.com/managing/strategy/article.jsp?content=20071105_198711_198711 |archive-url=https://web.archive.org/web/20080416194812/http://www.canadianbusiness.com/managing/strategy/article.jsp?content=20071105_198711_198711 |title=The loan arranger |date= November 5, 2007 |archive-date=April 16, 2008 |publisher=Canadian Business}}{{cite book |url=https://books.google.com/books?id=ovrsdJBMTTAC&q=%22Project+Enterprise%22 |title=Small Loans, Big Dreams - How Nobel Prize Winner Muhammad Yunus and Microfinance are Changing the World |year=2008 |publisher=Wiley |last=Counts |first=Alex }} PE has been a certified Community development financial institution since 1998. Founding Executive Director Vanessa Rudin was replaced by Arva Rice in November 2003.
From 2004-2006 PE saw substantial growth with increasing numbers of loans and total amounts lent. After conducting focus groups new loan products, events and resources for entrepreneurs were developed. PE launched a networking event programme, Big Connections, and an Access to Markets program addressing bringing products and services to the marketplace.{{cite news |url=https://www.crainsnewyork.com/article/20080713/SMALLBIZ/634073549/lending-advantage |title=Lending advantage |publisher=Craine's New York Business |date=July 13, 2008 |last=Pofeldt |first=Elaine}}
During the economic downturn, Project Enterprise saw an increase in demand and in 2008 had its best year since inception.{{Cite web |url=http://www.foxbusiness.com/story/personal-finance/on-topic/debt/fighting-loan-sharks-microloans/ |title=Fighting Loan Sharks with Microloans - FOXBusiness.com |website=Fox Business |access-date=2009-09-03 |archive-url=https://web.archive.org/web/20090429090936/http://www.foxbusiness.com/story/personal-finance/on-topic/debt/fighting-loan-sharks-microloans/ |archive-date=2009-04-29 |url-status=dead }} Mel Washington became the Executive Director on 1 September 2009.
=Awards=
In 2006, PE won the Association of Enterprise Opportunity's Innovation in Program Design Award for the Access to Markets Initiative. In 2007, PE staff member Althea Burton was made the New York Small Business Administration Home-Based Business Champion of the Year.{{Citation needed|date=January 2010}}
The organizations web site was closed and appeared to stop operating in 2017.