Cross River to partner with Hispanic chamber, aiming to strengthen state’s Hispanic entrepreneurial ecosystem

Cross River will become a platinum sponsor of the Hispanic Entrepreneurship Training Program sponsored by the Statewide Hispanic Chamber of Commerce of New Jersey, the groups announced this week.

Cross River officials said the collaboration will provide financial assistance to SHCCNJ to help launch and enhance SHCCNJ’s entrepreneurial programs to provide small business owners with financial, educational and technical assistance.

Cross River, a Fort Lee-based financial services organization that provides technology infrastructure to fintech and technology companies, said it intends to provide three key elements to those in the program:

  • Access to capital;
  • Access to new opportunities;
  • Access to new markets.

The partnership is part of Making Waves with Cross River, a campaign dedicated to diverse small businesses and entrepreneurs who are serving their communities and creating jobs. It encompasses a number of initiatives in conjunction with community partners, including grant programs, fellowships, events and small business support.

Phil Goldfeder, senior vice president, global public affairs, at Cross River, said the fintech was eager to become a partner.

“The Statewide Hispanic Chamber of Commerce of New Jersey is a leading advocate providing resources to small businesses who are often neglected,” he said. “The SHCCNJ is the voice of thousands of Hispanic businesses that contribute to the New Jersey economy, and the partnership with Cross River will provide further support, fortifying a better community for all.”

SHCCNJ CEO Carlos Medina said the potential for impact is huge.

“Based on recent studies, New Jersey is among eight states (Arizona, California, Florida, Illinois, New Mexico, New York and Texas) that collectively have approximately three-quarters of the U.S. Latino population,” he said. “The eight states have a Latino GDP of $2 trillion.

“We need to continue to add partners like Cross River, that values the economic power of the Hispanic business community, incentivizing its growth through education and networking.”