New Jersey Community Capital: A $2 Billion Strategy for Rewriting Community Wealth

In the landscape of community development, Bernel Hall has spent decades proving that financial institutions can do more than just manage money. As the President and CEO of New Jersey Community Capital (NJCC), Hall has built an organization that goes beyond traditional lending.

"We see this as independent goals, not binary goals," Hall explains. "Investing in the socioeconomic evolution of communities actually de-risks them financially and makes for better investments in the long run."

A Comprehensive Mission

Founded 37 years ago, NJCC operates through a holistic approach that integrates three critical areas of community support. The organization provides a loan fund supporting affordable housing, small businesses and community facilities, a small business investment company offering private equity to high-potential businesses, and a nonprofit real estate development and management organization. 'We like to believe we provide comprehensive community development investment,' Hall says, highlighting the organization's unique approach

Making a Tangible Impact

The organization's impact is profound and far-reaching. Over its 37-year history, NJCC has invested more than $2 billion in loan and equity investments, maintaining a current loan portfolio of $160 million and providing approximately $60 million in annual loans. What sets them apart is their commitment to supporting underrepresented entrepreneurs, with 55% of their loans directed to people of color and women-led organizations.

A prime example of their transformative work is the $11 million investment in Hinchliffe Stadium in Paterson, New Jersey. "This is one of the oldest Negro League stadiums in the country," Hall notes. "Beyond becoming a community pillar for events, it's surrounded by Black and Latino vendors, creating economic opportunities as people enjoy the restored space."

Empowerment Through Financial Literacy

Hall's approach goes far beyond simple monetary transactions. "Financial literacy is just support literacy," he explains. "In mastering money, people are able to master their own ownership of the quality of life they live in this capitalist society." The organization doesn't just provide funding; they educate clients about financial processes, credit management, and investment strategies, ensuring that each investment creates lasting, generational impact.

For young professionals, his advice is direct and inspiring: "Read as much as you can about entrepreneurship and money as early and often as you can. Talk about it with your friends, make it a normal course of conversation."

A Strategic Approach to Business Opportunities

Hall is particularly passionate about emerging opportunities for entrepreneurs. "We're currently in the silver tsunami," he explains, "where a lot of baby boomers are resettling their businesses." He encourages aspiring entrepreneurs to consider purchasing existing businesses in sectors like waste removal, vending machines, and lawn maintenance. Through their private equity firm, University Ventures, NJCC supports experienced operators looking to purchase businesses in industries they know intimately.

Recommended Reading

Drawing from his own journey, Hall suggests key books that shaped his perspective: "Think and Grow Rich" by Napoleon Hill, "Rich Dad, Poor Dad" by Robert Kiyosaki, and "A Random Walk Down Wall Street" by Peter Lynch. These texts not only provide financial insights but also inspire a mindset of entrepreneurial possibility.

Future Vision

Looking ahead, Hall's goal is clear: "We want to maximize our impact to all the communities that we serve in a way that is specific to each of those communities." The organization continues to expand its reach, now serving 37 states with a mission to provide tailored, comprehensive community investment solutions.

For those interested in learning more, NJCC welcomes inquiries through their website or by connecting with Hall on LinkedIn. "We know we can't be everything to everyone," Hall says, "but we bring a unique, comprehensive approach to community investment."

His work proves that financial institutions can be powerful engines of social and economic transformation, creating opportunities where they were once absent. Through strategic investment, education, and a deep commitment to community empowerment, Bernel Hall and New Jersey Community Capital are rewriting the narrative of community development.

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