Meet Executives, Changemakers, and Leaders Shaping Culture & Communities Across NYC
May is Small Business Month, and here at Spring Bank, it’s a natural moment to reflect on the entrepreneurs and nonprofit leaders who have built something extraordinary in the neighborhoods we serve. This month and all year long, we’re excited to shine the spotlight on a diverse group of woman-owned businesses and nonprofits who have trusted us as their banking partner.
Whether it’s a small business cooking up nostalgic meals in the Bronx or a nonprofit empowering local youth in Brooklyn, the leaders we’ve had the privilege of working with are running businesses and shaping culture and communities. As a community bank in NYC, supporting women entrepreneurs with the financial tools they need to grow is at the heart of what we do. Read on to learn about and show your support for the amazing leaders behind these organizations:
The Bronx
Small Businesses
Natalia M. Mendez — La Morada | Rooted in the Mott Haven neighborhood in the South Bronx, La Morada is a family-run Oaxacan restaurant preserving Indigenous Mexican cuisine and culture, one mole at a time. Natalia and her family have built not just a critically acclaimed kitchen, but a community institution committed to immigrant rights and local advocacy.
Nneka Bell — Celebrities Quality Painting Inc. | Dr. Nneka Bell is a Navy veteran, construction trailblazer, and advocate for women of color in the trades. After recognizing that her experience as a military aircraft painter made her a natural fit for commercial work, she launched her MWBE-certified firm and hasn’t looked back.
Yenny Castillo — Vineyard Avenue Corp | A Dominican-owned, real estate holding company based in West Nyack, New York, Yenny and her husband opened the business in 2017.
Erica Garcia — Little Exploradores | Little Exploradores is a bilingual, play-based home daycare serving children from infancy through age 12 in the Bronx. Founded by Erica Garcia, the program offers a warm, culturally rich environment where children develop social, emotional, and academic skills through hands-on exploration in both English and Spanish.
Robin Lewis — RL Hair Studio | Robin Lewis has spent over 30 years creating customized wigs for clients nationwide, but her work doesn’t stop at haircare. A licensed cosmetologist, Reiki practitioner, life coach, and podcaster, Robin built RL Hair Studio out of her own experience overcoming depression and self-doubt as a young female entrepreneur. Today, she uses that journey to guide others, offering community coaching sessions alongside her salon services and product line.
Chanel Agyei Oppong — Malina’s Kitchen | Malina’s Kitchen brings authentic West African cuisine to Jerome Avenue in the Bronx, serving traditional dishes like fufu, banku, and groundnut soup seven days a week.
Nonprofits
Isabel Pradas—College Bridge Cafe | Co-founded with the late Kevin Anthony, Isabel Pradas and her team support Bronx residents through career-oriented educational counseling, mentoring, and referral services to access college and other post-secondary education options. Their mission is to motivate and prepare Bronx residents to pursue their dreams and achieve their goals for a better life.
Aisha Norris — DREAM! | Co-founded by South Bronx native Aisha Norris, DREAM! uses restorative justice and arts-based programming to dismantle the school-to-prison pipeline. Aisha and her team knew that corrective discipline was not the answer to student conflicts, so they brought their own solution to NYC schools: restorative justice through the arts.
Sulma Arzu Brown — Storyland | Located at the Bronx Terminal Market, Storyland is the borough’s first book lounge designed for children and is a space built to cultivate a lifelong love of reading and learning. Founder Sulma Arzu-Brown has been a champion for literacy and youth development for over 15 years and has been recognized nationally for her work.
Brooklyn
Small Businesses
Sandra Snyder — Lundy’s | Sandra Snyder brought Brooklyn’s iconic Lundy Bros back to life after a 17-year absence, reopening the beloved seafood institution in Red Hook — just blocks from where she and her husband had one of their first dates at the original.
Nonprofits
Carolina Salguero — PortSide New York | PortSide New York advocates for New York City’s working waterfront and connects underserved communities to the harbor’s economic, cultural, and educational resources. Founder Carolina Salguero operates from the historic tanker Mary A. Whalen in Red Hook and was honored by Congress and the White House for her advocacy and Hurricane Sandy relief work.
Tiffiney Davis — Red Hook Art Project | Co-founded in 2009, the Red Hook Art Project provides free visual art, music, and wellness programming to youth ages 8 to 21 in one of Brooklyn’s most resilient neighborhoods. Executive Director Tiffiney Davis, a lifelong Red Hook resident, has secured $1 million in federal funding, expanded programming during the pandemic, and has been recognized with the 2023 Woman of Distinction Award for her work.
Kristina Nagy — Swamp In The City | Founded by Kristina Nagy, Swamp in the City is NYC’s premier Cajun and Creole music festival, bringing the vibrant musical, culinary, and cultural traditions of Southwest Louisiana to the Red Hook waterfront every spring.
Manhattan
Small Businesses
Sarina Prabasi — Buunni Coffee | Sarina Prabasi and her husband Elias Gurmu have built one of northern Manhattan’s most beloved independent coffee companies, with locations in Washington Heights and Inwood. Their ethically sourced Ethiopian beans, micro-roasted weekly, are now also produced out of The Roasting Room, a community co-roasting facility they opened in 2024 in the Bronx’s Hunts Point neighborhood.
Evelyn’s Kitchen—Ayala Donchin | Launched in 2009, Evelyn’s Kitchen started with wholesale baked goods and private chef services. Sixteen years later, EK has grown into a beloved New York City brand, known for its signature Pudgies (delicious, soft, doughy cookies), top-tier catering services, and unwavering commitment to the community.
Jennifer Pawlitschek — Jennifer Pawlitschek Consulting | Jennifer Pawlitschek offers neuroscience-based executive coaching and leadership development for American and global professionals, with a focus on women and diverse populations, helping clients at organizations like Citibank, Bloomberg, and the United Nations move from expertise to impact.
Kelsey Reeder — Kelsey G Reeder LCSW PLLC | Kelsey Reeder is a New York City-based licensed clinical social worker offering psychotherapy, clinical supervision, and specialized support for queer and trans family-building. Her practice is rooted in intersectional, anti-colonialist, and trans-liberatory care.
Rukshinda Rizvi — MaxWell Medical | MaxWell Medical is a state-of-the-art physiotherapy practice founded by the three Rizvi sisters with the vision that Relief is Within Reach. All patients receive specialized care, with services like physical therapy, sports medicine, acupuncture, trigger point therapy, and much more. Rukshinda currently serves as the managing director alongside her sisters.
Nicole A. Mackinlay — Reap What You Sew | Nicole Mackinlay Hahn is a transdisciplinary artist, filmmaker, and advocate whose Reap What You Sew project connects consumers to the human stories behind food, shelter, and clothing, with a particular focus on African artisans and garment workers.
Beyond NYC
Small Businesses
Daysi Briones — IQ Contracting Inc & Associates | Based in Ossining, New York, IQ Contracting is a DBE, WBE, and MWBE-certified general contractor with decades of experience delivering residential, commercial, and public construction projects on time and within budget. Founded by Daysi Briones, the firm handles everything from interior renovations to large-scale exterior restorations.
Nonprofits
Alexandra Barrett — ATB Impact LLC | Based in Brooklyn, ATB Impact LLC provides B2B strategy consulting, supporting leaders with the resources, training, support, and systems that allow them to focus on expanding opportunity for the people they serve. They offer and design leadership development programs, facilitate strategic planning, build operational infrastructure, and create spaces for learning in community.
Janna Marie Hockenjos — Earth Friends Incorporated | Based in New Jersey, Earth Friends is a nonprofit dedicated to early childhood environmental education, offering a nature-based curriculum that teaches young children about ecological relationships, food systems, and their place in the web of life.
Crystal Cron — Presente! Maine | Based in Portland, Maine, Presente! Maine is a grassroots mutual aid organization by and for displaced and dispossessed Afro/Indigenous-Latine immigrants, running survival programs around food sovereignty, community health, and shared leadership.
Bethany Yarrow — The Waterfall Center | Based in the Schoharie Valley of upstate New York, the Waterfall Center for Bioregional Learning is dedicated to land stewardship, Indigenous partnerships, and building community-rooted solutions to the environmental challenges of our time.
Banking Built for What You’re Building
Finding the best small business checking account in New York City means finding a bank that actually understands your community, and that’s exactly what we set out to be. At Spring Bank, our small business checking account options are built for the realities of running a business in this city, alongside small business loans and lines of credit built for businesses at various stages of growth.
We even have tailored solutions for our nonprofit customers, who are often overlooked by traditional banks. As your bank in Bronx, NY, and Red Hook, Brooklyn, we offer personal checking accounts, high-yield savings accounts, and the full range of personal, business, and nonprofit banking solutions to help you and your organization thrive.
If you’re a woman or minority business owner navigating New York’s contracting landscape, a MWBE certification through NYC’s Small Business Services could open meaningful doors, including access to government contracts and resources designed to level the playing field. We’re proud to partner with many of New York City’s certified MWBE businesses, and we’d love to support yours, too.
Learn more about small business banking at Spring Bank.
This March, we celebrate one of our proudest accomplishments: joining the B Corp movement. In 2016, we became the first B Corp-certified bank in New York State, and today, we remain among the highest-rated B Corp banks in the country.
The B Corp movement is built on the idea that business can be a force for good, meeting the needs of customers and communities while also achieving business goals. We’ve learned that real progress requires partnerships. For us, that has always meant showing up alongside the nonprofits, community organizations, and underserved communities that traditional banks have historically left behind.
Banking Where It’s Needed Most
Founded in 2007 in the South Bronx as the only bank to establish its base in the borough in over a quarter century, we set out to work in neighborhoods where high-cost check cashing and predatory lending were unfortunately the norm. 19 years later, our mission hasn’t changed. We continue to lead on our promise of community-first banking and are especially driven by our B Corp values.
Most recently, we opened a new branch in Red Hook, Brooklyn, a neighborhood that had long been underserved by traditional financial institutions. Without a local bank for over a decade, residents and small businesses were forced to travel outside the neighborhood for every transaction or spend money on high-cost alternative financial services. Since opening the branch over a year ago, we’ve established partnerships with local organizations, including the Red Hook Initiative and Red Hook Art Project, and are working to build relations with the Red Hook community.
Products and Partnerships That Move Our Communities Forward
Another way we put our B Corp values into action is by creating community-inspired products, like our Credit Builder Loan and Nonprofit Banking Program, that support the day-to-day financial health of all New Yorkers.
From fee-free nonprofit checking accounts and flexible working capital lines of credit to small business loans built for borrowers traditional banks turn away, every product we offer is intentionally designed. We know that a nonprofit waiting on a government contract reimbursement can’t afford to wait on their bank, too. We know that a delivery worker without a credit history still deserves access to a safe, reliable bike. So, we build our products accordingly.
Our GoGreen Cycle Loan especially embodies what it means to be a B Corp. Offered in partnership with local bike shops across the city, it provides affordable e-bike financing with no credit score requirement, making sustainable transportation accessible to the workers who need it most. How’d we get it done? Once again, thanks to our local nonprofit partnerships. As a founding member and board member of The E-Mobility Project (TEMP), a nonprofit working to advance mobility options and sustainability in New York City, we worked together to design and launch the GoGreen Cycle Loan, which was the first of its kind!
The B Corp movement asks businesses to consider their impact on every stakeholder, including workers, communities, and the environment, and our work is a direct expression of that. We’ve spent nearly 20 years building relationships with mission-driven organizations across New York City that are doing the hard, essential work of keeping communities afloat. We’ve also supported – and continue to support – nonprofits, small businesses, and everyday New Yorkers with the financial tools they need to carry out essential daily tasks.
So, whether you need a small business checking account, a personal checking account, or personal or business financing, we’ve got you covered with products that are community-focused and backed by our B Corp values.
The B Is Just the Beginning
We’ve always understood that our B Corp certification isn’t a finish line, but a framework for continuous improvement, and one we hold ourselves to every single day. Here’s to many more years of community-first banking and to everything still ahead! Thank you for being part of our journey.
Ready to bank with a purpose? Explore our personal and business banking options or learn more about our nonprofit banking program. You can also visit our B Corp profile to learn more about what our certification means and the standards we’re committed to upholding.
Celebrating our first year in Red Hook, Brooklyn
We can hardly believe it’s already been one year since we opened the doors to our first branch in Brooklyn. When local leaders expanded into Red Hook Brooklyn, we saw it as an honor and a great opportunity to be the first bank in Red Hook in over 10 years, and one year in, we have learned a lot. Most importantly, we’ve learned how tight-knit, supportive, and collaborative the community is, and how welcoming they are to newcomers like us. Learn more about our grand opening in Red Hook here.
Here are some of the things we have learned this year:
Stay present. Build trust.
We have loved getting to know the residents, change-makers, and leaders in Red Hook and across the borough. We knew that building trust required us to “show up” and support the work already happening here.
“It was really important in our first year to be present in the local community, to contribute and support as many leaders and initiatives as we can. Earning and building trust takes time, and we look forward to deepening community trust in our second, third and fourth years, too,” says ReyJane Gaudin, Red Hook Branch Manager.
Learn about the incredible work of Red Hook Art Project, Artolution, and Lundy Bros, to name a few of the organizations we love supporting.
All Brooklynites deserve to know their banker.
“When’s the last time you heard from your banker? When’s the last time your banker was able to support you, and you actually spoke to them on the phone and not to a bot on a 1-800 line?” asks ReyJane. “When it comes to any challenges you may have, at Spring Bank you always have a banker that you can speak to by name, and you will most likely know them by face as well.”
We value you and your family’s unique story, and we really enjoy getting to know our customers. As ReyJane notes you can reach us when you need to. A real-life, human banker will always be there to take your call or will call you back as soon as they can. We’ve heard that many of our new Brooklyn customers are shifting their relationships from big banks in Brooklyn to us because of our commitment to personalized service. You can count on us to never compromise a human touch for the sake of technological trends.
Transparency and affordability always win.
Speaking of keeping it human, our learning from opening our first branch in the Bronx also rings true in Brooklyn. You will never be surprised by an odd charge or how our products work. And most of our banking products offer fee-free or low-fee options. In addition to serving small businesses and nonprofits in Brooklyn with small business checking accounts and nonprofit accounts, we also exist to support everyday New Yorkers in building financial stability and wealth.
In case you are still wondering what makes us unique among other banks in Brooklyn, check out our transparent and affordable products and services available to all Brooklyn residents:
- Free checking accounts with direct deposit: Our Green Checking Account lets you go paperless and offers zero maintenance fees and no overdraft fees, ever.
- Higher than average interest rates on our high-yield savings accounts.
- Credit-building loan: If your credit is not where you want it to be, this small loan can help you get there and help you build savings, too. Learn more.
- Free financial counseling: Prefer to meet with someone in person? Take advantage of free financial counseling and housing application assistance with our nonprofit partner Ariva at our Red Hook branch for Money Talk Mondays. If you’d rather meet virtually or by phone, all Spring Bank customers also have access to free financial and low-cost debt management counseling with our national nonprofit partner, GreenPath Financial Wellness.
Our Red Hook branch is for all Brooklyn residents. Whether you’re an entrepreneur in need of a small business checking account or are brand-new to banking and eager to open your first high-yield savings account, ReyJane, Israel, and our team are here to help you reach your financial goals. Stop by 356 Van Brunt Street to visit us. We’d love to meet you.
We’re so excited to share that we’ve been awarded a grant to distribute to our small business and nonprofit customers through the Federal Home Loan Bank of New York’s (FHLBNY) Small Business Recovery Grant (SBRG) Program!
As a community bank in New York and proud members of the FHLBNY, supporting small businesses and nonprofits is fundamental to our mission to bring much-needed investment to the communities that need them most. This grant enables us to deliver on that mission by expanding the capacity of our small business and nonprofit customers.
The FHLBNY first created its SBRG Program to provide local support in Puerto Rico and the U.S. Virgin Islands in the wake of the 2017 hurricane season, and redeployed the SBRG Program in 2020 to support local businesses, farms and non-profits throughout the FHLBNY’s District. Since 2020, the FHLBNY has awarded more than $25 million in SBRG Program funds. Through the SBRG program, FHLBNY members – like us – can provide grants of up to $10,000 to qualifying small businesses, including nonprofits, that have faced economic challenges due to the rate environment, inflation, supply-chain constraints, or rising energy costs.
“Small businesses are critical to the health and economic strength of their communities, and through our Small Business Recovery Grant Program, the FHLBNY is able to partner with members like Spring Bank to make a direct and positive impact for these vital local institutions,” said Michael Beifeld, Relationship Manager at the FHLBNY.
We most recently received a SBRG award in 2023 – a critical time for struggling small businesses – and are so grateful for this opportunity to once again provide support during another difficult economic climate. This year’s grantees are ten of our inspiring nonprofit and small business customers:
Ariva: Ariva is working to remove barriers to financial and economic access by providing free tax preparation in NYC and free financial counseling that includes education on budget management and building savings, and so much more. One of their permanent locations is right here at Spring Bank!
The Bronx River Alliance: Through equitable restoration, environmental protection, and public education, the Alliance is a notable nonprofit leader and longtime partner of ours, transforming the 23-mile-long river for present and future generations.
Celebrities Quality Painting: Owned by Navy vet Dr. Nneka Bell, Celebrities Quality Painting, also known as Celebrities Quality Construction, provides commercial real estate construction, carpentry, flooring, renovations, and a 100% customer satisfaction guarantee.
Community Voices Heard (CVH): CVH is a member-led organization that tackles challenging issues through grassroots organizing, leadership development, and advocacy for policy changes that benefit all New Yorkers.
College Bridge Café: Located in the Bronx, College Bridge Café provides career education counseling, mentoring, and referral services.
Custom Collaborative: A New York City-based nonprofit, Custom Collaborative is an entrepreneurship and workforce development organization that trains and supports women from low-income and immigrant communities in launching fashion careers and businesses.
Island Pops: Island Pops has brought Caribbean-inspired frozen treats to New York City and across the country since 2015. Through the help of our commercial lending team, Island Pops secured the funding they needed to relocate and expand.
Red Hook Art Project (RHAP): Founded in 2009, RHAP is a non-profit organization that provides free visual art, music, academic and stress management instruction to children and youth who live in and around Red Hook, Brooklyn.
Red Hook Initiative (RHI): RHI is a critical community resource in Red Hook, providing youth development programs, community building programs, and serving as one of the largest community employers.
South Bronx United: Starting as a grassroots soccer program, South Bronx United has transformed from a soccer program into a multifaceted organization, expanding its services far beyond the soccer field and now offering academic and career support, social work, and immigration services.
The ten beneficiaries of our Small Business Grant Recovery Program award serve a wide range of missions that include: the arts, financial empowerment, youth development, and the environment. We are so inspired by all of these recipients and are proud to support them as their New York banking partner.
To learn more about our dedication to supporting small businesses and nonprofits, discover our approach to small business lending and how we leverage customer deposits. You can also learn more about how our affordable small business bank accounts and free nonprofit checking accounts can support your organization.
Can you believe it’s been 7 months since we opened our new branch in Red Hook? As the neighborhood’s first bank in over 15 years, we’ve had the honor of connecting with local residents and businesses to provide affordable banking solutions such as small business bank accounts and personal checking accounts.
Our commitment is to be of service to our new neighbors and become their trusted New York banking partner. How are we getting it done? By hiring responsive mission-driven individuals that go above and beyond for our customers.
Get to Know Israel Santana, Our Red Hook Assistant Branch Manager
Israel Santana joined us as Assistant Branch Manager with over 10 years of banking experience and a love for helping people learn about their finances. Israel was introduced to us by ReyJane Gaudin, Red Hook Branch Manager.
“When ReyJane joined Spring Bank, she let me know how great the bank is and I started researching what they’re all about. I fell in love with the mission, just as she did, and I took the initiative when I found out they were opening the new location in Red Hook,” Israel tells us.
With extensive experience in New York banking, Israel was the perfect candidate to join our Red Hook team. He has witnessed firsthand changes in the industry, which is especially important to us as we join a community that was lacking basic banking services.
“The thing I love most about banking is the people. It brings me joy informing people about their finances so that they’re not blindsided,” says Israel.
As Assistant Branch Manager at our Red Hook branch, it’s Israel’s first time working for a community bank in New York.
“This is the first bank that I’ve worked for where the mission aligns with my own personal views. I’ve been in the industry for a while and I haven’t seen a bank like Spring Bank where the mission statement really reflects the work that they do,” says Israel.
Israel’s journey is a reminder that an impactful career in banking is possible when you choose a community bank in New York that’s committed to financial inclusion and empowerment. At Spring Bank, we believe in people over profit and are lucky to have values-aligned individuals like Israel on our team.
Building Trust and Connecting with Locals
Since opening our doors in Red Hook, our priority has been to become a part of the community. Our Red Hook branch is the first financial institution in Red Hook in over 10 years and that doesn’t come without obstacles.
“The Red Hook community is very vigilant and there’s a guard up because they’ve been through so much,” Israel explains.
Of particular concern among Red Hook locals is the anticipated waterfront development project, which could impact transit and infrastructure. In an effort to build trust and listen to local voices, Israel and our Red Hook team have been attending community meetings about the redevelopment project.
“We’ve been attending a lot of the community meetings to show support in the community,” says Israel. “A lot of our customers that live in the community are actually activists and come into the branch to give us updates on what’s going on.”
Though our work isn’t done yet, we’re grateful for the strides we’ve made in gaining community trust and it’s all thanks to our amazing team. We’re more than just a bank in Red Hook – we’re active community members.
“We get a lot of attention with our mission statement because we’re a certified B Corp and we care about more than just numbers. We’re focused on helping the communities that are underbanked or not banked at all, and that attracts a lot of customers,” Israel explains.
Many Red Hook locals stop by to ask questions, often inquiring about our personal checking and savings account options, while small business owners gravitate toward our small business bank accounts.
“A lot of Brooklyn small businesses inquire about our offerings via phone calls and emails. Many folks were already interested in opening a small business bank account at our Bronx branch, but it was just a little too far for them,” says Israel.
As we continue to build trust with the Red Hook community, we’re grateful for leaders like Israel who are committed to listening to local concerns and staying active in the community.
Going Above and Beyond As Your New York Banking Partner
If you’re in the Red Hook area and looking for a friendly New York banking partner, we’re here for you – our branch is staffed by compassionate individuals like Israel who enjoy helping customers understand personal finances and answering questions:
“The best advice I can give is to stay informed and educate yourself on what’s happening on a daily basis with your accounts. Pay attention to your liquid accounts for rate increases or decreases.”
Together with our Red Hook team, Israel is working on expanding our impact and building relationships with local residents and businesses. For transparent and affordable banking solutions, including personal savings accounts, personal checking accounts, and business bank accounts, visit our Red Hook branch at 356 Van Brunt St., Brooklyn, NY 11231, where you’ll be greeted by Israel and the rest of our amazing team.
Rated top 3 of 60 banks as “outstanding” in the FDIC’s latest monthly list of banks examined for CRA compliance.
We’re so proud to announce that we’ve received an “outstanding” Community Reinvestment Act (CRA) rating from the Federal Deposit Insurance Corporation (FDIC)!
This rating was awarded to only 3 of 60 banks in a recent rating period and measures how well banks perform in meeting their responsibilities under the CRA. Passed in 1977, the CRA requires the FDIC to assess a bank’s record of meeting the credit needs of its entire community, including people who live in low- and moderate-income neighborhoods.
As a community bank, this rating speaks to our mission and commitment to providing all New Yorkers with transparent and affordable banking solutions. It’s who we’ve been from the beginning and who we will always be.
Learn more about our history and mission, expansion in Red Hook, our small business accounts, and personal checking account options.
As a bank based in the diversity-rich Bronx, we’re proud to have a team of individuals with different backgrounds and skill sets, all working together to create equal opportunities for people to build prosperous and abundant futures for their families and communities. As we grow to support more community members with our affordable banking services, we always look forward to having passionate and talented individuals join our staff. Binnoy Amin is such a person, having started with us over a year ago.
Like most of our team members, Binnoy likes working with numbers. Growing up in India, Binnoy’s family was very business-oriented, owning several companies, from a packaging factory to a poultry farm. This entrepreneurial spirit inspired him to pursue a career in business. He studied Business Administration, Accounting, and Finance in the UK, ultimately leading him to hotel management, where he led a team of over 60 employees.
With experience in operations at such a scale, Binnoy sought to learn more about what goes into running and managing a business. So, he tapped into his finance background and discovered a role at Spring Bank. As the bank’s Accountant, Binnoy manages much of the administrative end of daily banking services, including managing vendor relationships and wire transfers and forecasting budgets and investments. It’s much different than his previous work, which was more customer-facing, but Binnoy is up for the challenge.
“It’s challenging and fascinating to learn. I have access to the bank books, which helps me understand the system, and it’s been exciting so far. I’m learning a lot about my position, the overall mission, and how a community bank operates,” he says.
Binnoy values our commitment to small businesses and nonprofit organizations. He understands the importance of getting to know our customers to be able to develop a strategy each business’ needs.
“I strive to help small businesses. I know how hard it is to run one and the commitment it requires every day to keep it going. I am proud to work at a bank that shares this vision for local businesses, too,” he shares.
There’s so much to uncover in finance. Fortunately, working for a community bank allows Binnoy to dive deeper into the New York City financial system. Our team’s openness and willingness to share and grow together have allowed Binnoy to quickly learn about our community partnerships, small business accounts, commercial lending, and more. He can see the application of our mission and impact on the community.
“Everyone here, even the senior managers, are always open. I can easily walk into their office to talk. I feel supported and part of something larger than my job here,” he says.
We are grateful to have Binnoy as our staff member and for his eagerness to jump right into the mission, learn, and become part of our open, supportive culture.
Read more about our team and what it’s like to work at one of the only community banks in Bronx, New York.
– Against All Odds: Eric’s Story of Launching a Bank in the South Bronx
– Erica Rosero: Centering Our Community in Our Small Business & Nonprofit Lending
– Growing Together with Keila Mendez, Head Teller & Customer Service Representative
– How Germarie Uses Her Financial Expertise to Help Her Community
– Living Our Mission: Featuring Diana Ravagnan, BSA Officer
– Rooted in Community: A Conversation with Josefa Ruiz, VP & Branch Market Manager
Celebrating National Small Business Week This May
“We understand every single stage of the business and are here to help you. We are a small business ourselves.” – Erica Rosero, Small Business & Nonprofit Loan Officer
Whether you’re just starting your business or have been operating for many years, there are challenges at every stage of owning a small business. For example, managing finances and obtaining capital is a common hurdle for entrepreneurs. Here at Spring Bank, we’re equipped with the resources, tools, and education you need to understand and prepare for the lending process. In addition, unlike larger conventional banks that use a standardized approach to manage thousands of clients, we bring a personalized approach to help you grow your business. Finally, we want to get to know you and your business, and developing a good relationship starts with building trust.
Erica Rosero, our Small Business and Nonprofit Loan Officer, works one-on-one with clients to align their finances with their small business goals. While in university, Erica worked for Lehman’s Small Business Development Center (SBDC) as a counselor and certified business advisor. She supported small businesses at all life stages with tools from the Small Business Administration (SBA) to support business expansion. Coincidentally for the five years she worked there, Erica referred clients to us to open affordable new business bank accounts and access credit.
“Once the business is established, at some point, you will need a line of credit, credit card, or a business bank account, depending on what kind of product or service you are offering,” says Erica.
In addition to our business bank account, our most popular small business product is our $10,000 micro line of credit. This microloan can help you get things off the ground or expand your existing business. If you are not ready to apply, Erica will never simply decline you. Instead, she will always connect you to the necessary tools to get you on track for approval.
So, what does a human-centered, personalized approach to small business lending look like?
Our Unique Approach
The personal experience you get with us is unlike any other bank. We value meaningful relationships in our work. Here’s what you can expect from our lending experience compared to high-interest FinTech lenders in the market:
No snooping
We only look at your bank statements and ensure the line of credit we offer will not hurt you. We don’t want you to devote all of your cashflows to repayment.
In-depth expert review
We take our time to understand the business, its needs, and why you are looking for the money. Then, we look at it as a case-by-case scenario and customize the lending experience. In some cases, we offer more or less than what is requested based on our review of the financials.
Additionally, we understand and address the other challenges small business owners face, such as preparing your credit score for review when applying for loans and ensuring you keep your personal and business transactions separate using a personal checking account and a business checking account.
No predatory lending
We don’t just give you a ‘yes’ or a ‘no.’ We will always explain why you are approved or denied for a loan. Of course, not everyone likes to be denied what they request, but it’s essential to understand that things could change at any moment. For example, how will you support your business in an emergency if you plan to allot all your savings to pay off the loan? In this way, we protect you from unnecessary debt. We also offer affordable interest rates with no interest rate floor.
As a Community Development Financial Institution (CDFI), we commit to supporting small businesses that create jobs and living wages. We offer various new business bank accounts, lending options, and free financial counseling services through our community partners, like GreenPath Financial Wellness and Start Small Think Big, to get your business on the right track.
Are you ready to experience small business banking on a whole other level? Get expert knowledge and personalized service from our community bank. Ready to start your entrepreneurial journey or build your existing business? Contact us today to learn more about our $10,000 micro line of credit and small business bank account options.
Proud to be a new member of The Global Alliance for Banking on Values (GABV)
We are excited to announce that we joined a collaborative and international network of mission-aligned financial institutions and leaders called The Global Alliance for Banking on Values (GABV). We are one of just a handful of banks invited to participate from the United States, including our colleagues and B Corp peers at Amalgamated Bank, Beneficial State Bank, and Sunrise Bank.
The collective goal of the GABV is “to make the banking system more transparent and support positive economic, social, and environmental change.”
The approach includes:
● Making the business case of values-based banks through thought leadership
● Setting the standard for triple-bottom-line finance through the GABV scorecard
● Addressing urgent challenges like climate change
● Driving systemic change through industry engagement
● Supporting leadership development through a leadership academy
● Sharing best practices at an annual conference and online gatherings
“We are excited to be joining an international network of like-minded banks. We hope to learn from other GABV banks about how to best utilize our unique position as capital providers to advance economic and climate justice. At the same time, we hope that we can contribute what we have learned over the past fifteen years as a mission-driven financial institution so that more of us in the financial services industry can be a part of the solution to economic justice and the climate crisis rather than part of the problem.”
— Demetris Giannoulias, CEO, Spring Bank
If you follow our story, you’ll know that we are continually working to improve how we increase access to capital and help people build generational wealth. When we opened our doors fifteen years ago, we were the first bank to headquarter in the Bronx in over 20 years, and we knew we needed to stay committed. At first, it wasn’t easy developing trust in the South Bronx, a community where many people had negative experiences with banks or had never opened a personal savings or checking account. We knew it would require time, relationship-building, and reliability. As our President and Compliance Officer, Eric Pallas, says, “we defied the odds.”
We quickly realized we needed to join arms and learn alongside like-minded financial institutions that also balance profit and mission goals. Part of what holds us accountable to our mission of financial inclusion is the B Corp and Community Development Financial Institution (CDFI) communities. We are grateful to now also be held accountable by an international network of banking peers at the GABV. Learn more about The Global Alliance for Banking on Values here. Follow their work on LinkedIn here. Explore why we are one of the best community banks in Bronx, New York.
$10M from Mizuho Bank for Mission-Based Lending
Trust is the foundation of our business. As a Community Development Financial Institution (CDFI), we are positioned between larger financial institutions, many of which have no physical presence or retail space, and the financial needs of our community. Investments of affordable capital from other financial institutions help support our lending goals.
In December 2022, Mizuho Bank (USA), a partner and leading wholesale bank, placed a $10 million deposit with us. This deposit directly supports the growth of Bronx-based small businesses and nonprofit organizations, including Empire Tool Rental, Rocking the Boat, and Bronx River Alliance.
“We are grateful to Mizuho Bank for its investment in our community. It is always a challenge for CDFI banks with branches in low-income communities to generate deposits that fund loans to individuals and small businesses in our neighborhood in the South Bronx,” says Demetris Giannoulias, our CEO. “The Mizuho Bank deposit helps us do this.”
“We rely on partnerships and the skills and expertise of people that operate and have strong relationships in under-resourced communities. So, when we were thinking about how to deploy more capital into the communities of New York City, Spring Bank was on the shortlist,” says Lesley Palmer, Managing Director, Head of Community Relations, and CRA Officer at Mizuho Bank (USA), a subsidiary of Mizuho Americas LLC. “We are committed to putting resources into the hands of CDFIs and mission-driven organizations that can use them most effectively.”
We equally rely on the quality of our relationships—to receive significant investments from larger institutions like Mizuho Bank and lend that capital back to businesses in New York City. Like a loan to long-established Empire Tool Rental, a construction equipment and tool rental, service, and sales company, to help acquire a commercial building in the South Bronx.
“Not only did I expand my business, but the loan with Spring Bank also helped me purchase a real estate property to rent out no matter what happens with the business,” says Terry Fuhrman, CEO of Empire Tool Rental. “I know Spring Bank has my back. My business is built on relationships, and I can’t speak more highly of the personal, quality relationship I have with Spring Bank.”
Check out Empire Tool Rental and read the features on Bronx River Alliance and Rocking the Boat: The Bronx is a Place Where Everything Is Possible,
Learn more about Spring Bank, its commitment to New York City communities, and its impact on local economies through the great work of CDFI Certified Banks.
We hope you’ll consider us for your new business bank account among banks in Bronx, New York. We offer small business accounts and a business checking account, and one of the best savings accounts online.