Celebrating Victor Salama
A Champion for Small Business and Community Growth
Victor Salama, Executive Director of Greater Newark Enterprises Corporation (GNEC), is dedicated to expanding opportunities for entrepreneurs across New Jersey. Since its founding in 2005, GNEC has grown from a small Newark-based organization into a statewide Community Development Financial Institution (CDFI), providing capital and technical assistance to underserved and underbanked communities. Through this work, Victor has helped unlock pathways to business ownership—an engine he believes is essential to building long-term economic stability and generational wealth.
Victor’s commitment to this work is deeply personal. “I’ve seen firsthand how business ownership can sustain families and create equity that lasts for generations,” he shared. “It’s one of the few tools we have that can truly change a family’s trajectory.” That belief continues to shape his leadership, grounded in the idea that innovation and problem-solving often begin at the grassroots level.
Victor describes Orange as a place with a strong sense of identity and a “main street” feel that is ready to grow and evolve. “Orange is at a tipping point,” he said. “There’s real vibrancy here, and with the right support, it can expand in a way that strengthens the people who already call it home.” His work focuses on ensuring that growth is inclusive—supporting existing residents and business owners.
At the heart of Victor’s vision is a belief in the power of small businesses. From neighborhood storefronts to family-run operations, he sees these enterprises as the backbone of a thriving community. “The small, one-to-ten person businesses—the ones that open their doors every day—are what create vibrancy,” he explained. “They keep money circulating locally, create jobs, and build the tax base that supports schools and services.” For Victor, strong main streets are not just about commerce—they are about connection, pride, and sustainability.
This perspective closely aligns with this year’s theme, “The Future is All of Us.” Victor emphasizes the interconnected nature of community growth, where residents, business owners, and organizations all play a role. “When a business owner lives in the community, sends their kids to local schools, and invests back into that neighborhood, it creates a cycle of stability and opportunity,” he said. “That’s how communities truly thrive.”
GNEC’s collaboration with HANDS represents a powerful example of how local trust and financial resources can come together to create impact. “HANDS has its finger on the pulse of the community,” he noted. “They understand what residents need and serve as a vital advocate, ensuring Orange gets the attention and resources it deserves.” Through this partnership, GNEC is able to extend its reach, connecting more entrepreneurs to capital and support.
Together, GNEC and HANDS are working to build a stronger ecosystem for small businesses in Orange—one rooted in access, equity, and opportunity. Victor hopes that both longtime and new residents will see the value of investing locally and supporting neighborhood entrepreneurs. “We want business owners to know we’re here for them,” he said. “When we work together, we can create a community that is vibrant, resilient, and built to last.”
Through his leadership, Victor Salama is helping shape a future where economic opportunity is not limited by access, but expanded through community—ensuring that Orange continues to grow in a way that benefits everyone.
