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Launched by a former Prudential Financial executive, BrightStreet recently celebrated its debut. During the event, the Newark urban microfinance empowerment program awarded funds to its first cohort of business owners.

The nonprofit held its party at the New Jersey Performing Arts Center Feb. 20, featuring a dramatic representation of its mission, a roster of high-profile attendees and check presentations to three local entrepreneurs.

Founder and CEO Rob Falzon detailed the motives behind BrightStreet in NJBIZ last fall. The former vice chair referenced his time at Pru as inspiration for the progress that can come from public-private partnerships and a place-based approach.

He described the new venture as “a sustainable economic engine” to empower individuals.

BrightStreet will provide affordable loans, grants, financial education, mentorship and hands-on operations support to startups, solopreneurs and micro-enterprises. It will pair capital with guidance, the organization says, to provide the tools and support necessary to build sustainable businesses.

According to BrightStreet, micro-businesses with fewer than 10 employees comprise 95% of all enterprises nationwide. However, they are denied funding at more than twice the rate of other small businesses, the nonprofit said. Additionally, nearly half operate in low-income communities with limited access to funding and financial education.

BrightStreet begins its mission to empower entrepreneurs, create wealth and strengthen communities in Newark and across the state.

In the fall, Falzon highlighted its potential ripple effect beyond the Brick City and Garden State to urban areas nationwide.

“By providing local entrepreneurs with the capital and support they need, we empower them to create more jobs and generate lasting wealth within their communities,” he wrote in the Sept. 22, 2025, issue of NJBIZ. “This model can establish Newark as a beacon of inclusive economic growth, demonstrating that investing in our communities fosters resilience, creativity and a brighter future for all.

Three entrepreneurs from BrightStreet’s first cohort took home an oversized check representing their funding:

• Jennifer Lopez – Lopez & Associates Behavioral Consulting Board certified behavior analyst and Newark-based founder operates an agency providing one-on-one behavioral therapy to children with autism, primarily serving underserved and Spanish-speaking families across Essex and Hudson counties. Funding will help to stabilize operations, scale the business by hiring additional therapists to meet the growing demand, and ensure it  can consistently meet payroll while insurance claims are processed.
  • Loan amount: $50,000

• Al Shakise – BWS Massage Newark native entrepreneur providing massage treatments to clients at home and at corporate sponsored events. Shakise is transitioning from gig-style work to a scalable, branded business after securing a state contract to provide massage therapy services for disabled clients. The loan will fund marketing, branding, and working capital to smooth cash flow and support growth.
  • Loan amount: $20,000

• Undra Duncan – Undra Celeste New York Accomplished Newark-based fashion designer with national recognition, major collaborations and wholesale opportunities. The loan will help to stabilize operations challenged by the current retail environment, provide working capital to fulfill new orders, expand production and continue scaling the brand through expanded distribution channels.
  • Loan amount: $50,000