BrightStreet Launches to Tackle Small Business Funding Gap with Marques Colston’s Support

Newark, NJ – BrightStreet, a new nonprofit organization dedicated to providing access to capital and resources for underserved entrepreneurs, officially launched on Thursday with a symbolic demolition of a brick wall representing the barriers faced by small business owners. The launch event, held at the New Jersey Performing Arts Center, featured Super Bowl champion and investor Marques Colston, alongside city leaders and entrepreneurs.

Addressing a Critical Funding Gap

BrightStreet aims to address the significant disparity in funding access for micro-businesses – those with fewer than 10 employees. According to organizers, these businesses, which comprise roughly 95% of all businesses in New Jersey, New York, and across the U.S., are denied funding at more than twice the rate of larger firms, and nearly half are located in low-income communities where capital is scarce.

Colston Champions Economic Empowerment

Marques Colston, a former wide receiver for the New Orleans Saints who helped the team win Super Bowl XLIV, emphasized the parallels between the discipline and teamwork required in sports and those needed for entrepreneurial success. He highlighted the importance of providing resources and support to founders from underrepresented communities. Colston, who played college football for Hofstra University and was drafted by the Saints in 2006 Marques Colston Wikipedia, has transitioned into a career focused on investing in and mentoring startups.

Initial Funding Recipients Announced

At the launch event, BrightStreet announced its first cohort of funding recipients, including Undra Duncan, founder of Undra Celeste New York; Jennifer Lopez, a local businesswoman; and Al-Shakise Anderson. These entrepreneurs shared their experiences struggling to secure capital despite having viable business plans.

“This opportunity means everything to me,” said Duncan, creative director of Undra Celeste New York. “This isn’t the first time I’ve gotten funding, but it is the first time I can visually see that funding and structure are in unison.”

Newark’s Mayor Backs BrightStreet

Newark Mayor Ras Baraka expressed strong support for BrightStreet, stating that small and micro-businesses are the backbone of the city’s economy. He presented a proclamation commemorating the organization’s creation, emphasizing its potential to fuel opportunity and become a permanent part of Newark’s future.

BrightStreet’s Model and Future Expansion

Founded by Rob Falzon and backed by partners including TD Bank and Prudential, BrightStreet will offer affordable loans, financial education, and hands-on support to startups, solopreneurs, and micro-enterprises. The organization’s model is designed to be replicated in other urban centers facing similar challenges in access to capital.

“Talent thrives with the right support — responsible capital and mentorship that turn small businesses into lasting enterprises and strengthen entire communities,” Colston said. “BrightStreet is about making sure more entrepreneurs get that chance.”