Full Breakdown
BrightStreet Launches to Support Small Businesses in Newark
2/21/2026, 11:59:41 AM
Symbolic Beginning for Economic Empowerment
On Thursday morning, former NFL star Marques Colston participated in a symbolic demolition of a faux brick wall at the New Jersey Performing Arts Center, representing the barriers faced by small business owners in Newark and beyond. This event marked the public launch of BrightStreet, a new nonprofit organization dedicated to supporting entrepreneurs who struggle to access traditional financing. Colston emphasized the need for fair capital, tools, guidance, and a supportive ecosystem for talented small business owners, stating, “For too long, talented small business owners have built their dreams on unstable foundations.”
Addressing Financial Disparities
BrightStreet aims to tackle the significant funding gap affecting micro-businesses—defined as companies with fewer than 10 employees—which constitute approximately 95% of all businesses in New Jersey, New York, and across the United States. These small enterprises are denied funding at more than twice the rate of larger firms, with nearly half operating in low-income communities where access to capital and guidance is limited. The organization plans to offer affordable loans, financial education, and hands-on support to startups, solopreneurs, and micro-enterprises, particularly those historically excluded from mainstream lending.
Early Success Stories
During the launch event, several entrepreneurs were recognized as the first recipients of BrightStreet's funding, including Undra Duncan, the creative director of Undra Celeste New York, and businesswoman Jennifer Lopez. Colston noted that the funding would help these businesses grow, create jobs, and expand their reach. Duncan expressed gratitude, stating, “This opportunity means everything to me. 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.”
Community Support and Future Aspirations
Newark Mayor Ras Baraka praised the launch of BrightStreet, highlighting the importance of small and micro-businesses as the backbone of Newark’s economy. He stated, “By providing the loans and grants they need to grow, BrightStreet is not only fueling opportunity but becoming a permanent part of Newark’s history and future.” Colston, who has transitioned into a role as an investor and business mentor, reiterated the parallels between sports and entrepreneurship, emphasizing the need for discipline, teamwork, and access to resources.
Vision for Replication
Founded by Rob Falzon and supported by partners including TD Bank and Prudential, BrightStreet aims to provide capital and technical assistance that traditional lenders often decline to offer. The organization hopes its model can be replicated in other urban centers, fostering economic empowerment and creating pathways for founders from underrepresented communities. Colston concluded the event by stating, “Talent thrives with the right support—responsible capital and mentorship that turn small businesses into lasting enterprises and strengthen entire communities.”
Verbatim Quotes
- “For too long, talented small business owners have built their dreams on unstable foundations — not for lack of talent or work ethic, but for lack of access to fair capital, tools, guidance, and an ecosystem that believes in them before the numbers prove their success,” — Marques Colston, Former NFL Player
- “Small and microbusinesses are the backbone of Newark’s economy — often started by hardworking residents juggling jobs and dreams without access to capital.” — Ras Baraka, Newark Mayor
- “Talent thrives with the right support — responsible capital and mentorship that turn small businesses into lasting enterprises and strengthen entire communities,” — Marques Colston, Former NFL Player
