As a community bank headquartered in the Bronx, we’ve had the pleasure of serving many local small businesses and consumers—and our reach goes beyond this borough. For years, we’ve worked with Brooklyn-based businesses, helping them realize their goals and help to guide them in their small business journey. Now, we’re thrilled to provide the same level of service to businesses and consumers in Brooklyn with the opening of our newest branch in Red Hook!
Red Hook, a vibrant and diverse community, has faced challenges in accessing essential banking services and had previously been one of New York City’s “banking deserts.” We’re the neighborhood’s first local bank in 10 years, furthering our mission to expand access to financial services for consumers and small businesses in underserved neighborhoods.
“We are excited to open our doors in Red Hook, a neighborhood that, like others in New York City, has faced barriers to banking access,” says Akbar Rizvi, President of Spring Bank. “Our goal is to bring affordable, equitable financial services to this community and provide the support that many families and small businesses need to grow, succeed, and build a better future.”
Our Red Hook branch alleviates the burden of travel for local small businesses and consumers, allowing them to access affordable banking solutions right in their community. Since opening this past December, we’ve proudly offered a full range of banking services, including personal and business banking, small business loans, and financial education programs.
We’re so grateful for local community leaders and politicians like Senator Andrew Gounardes, who shared our mission of bringing essential banking services back to Red Hook and ultimately made this branch a reality. As we continue to get to know the Red Hook community, we will be able to show how community banks like ours stand out from big banks.
“We’re letting residents know that we offer products and services for this community because we understand the needs of the people that live here. We’re here to build trust and help residents succeed. Everyone is a VIP here, whether you have five cents in your account or a million dollars,” says ReyJane, Branch Manager at Spring Bank Red Hook.
If you’re in the Red Hook area and looking for a friendly New York banking partner, we’re here for you. Just like our Bronx branch, our Red Hook branch is staffed by compassionate individuals like ReyJane, who are here to help you meet your financial needs.
We can’t wait to meet more members of the local community, change the narrative around banking and become a trusted banking partner to Red Hook residents. Visit our Red Hook branch at 356 Van Brunt St., Brooklyn, NY 11231, and discover our many banking solutions, including business bank accounts, small business lending, personal savings accounts, and personal checking accounts.
A Spring Bank Staff Feature
With 2025 just beginning, we have much to reflect on and celebrate with our community. We’ve shared more customer success stories, reached more New Yorkers, and successfully amplified our mission of financial inclusion. And, in case you haven’t heard the great news yet, we opened our first branch in Brooklyn, in the iconic neighborhood of Red Hook, making it the neighborhood’s first local bank in 10 years
As a community bank in New York, joining the Red Hook community resonated deeply with our commitment to financial inclusion and empowerment. After 10 years, Red Hook residents and small business owners no longer have to leave their neighborhood to access basic banking services like checking accounts and savings accounts. Our commitment is to be of service to our new neighbors, starting with getting to know the local community to understand and address their financial needs. We’ve hired the best of the best to lead the way.
ReyJane Gaudin joins us as Branch Manager at our Red Hook branch, bringing an extensive background in banking and a love for New York City. Brooklyn-born and raised, ReyJane entered the banking industry as a teller and worked her way up to branch manager over 10 years.
“I initially wanted to be a teacher and had no interest in banking, but my godfather was in the financial industry and suggested that I do it. I said, you know what? No problem. Let’s see,” ReyJane tells us.
Motivated by her desire to be customer-facing and her interest in community and team development, ReyJane found she loved her growing career in banking.
“Service, education, and professional development are really important to me,” ReyJane shares. “I enjoy mentoring others and understanding what my staff is doing. Team development and community development are passions of mine.”
Since joining our team, ReyJane has played a pivotal role in bridging the gap between our Bronx headquarters and our first branch in Brooklyn. In addition to her professional experience, she’s always advocated for community-driven organizations and stands firm on our mission of financial inclusion.
“We want Red Hook residents to know that we’re a bank with a mission and that they have options. Not only can they bank here, but they can afford to,” says ReyJane.
For example, we don’t require large balances to maintain a bank account with us, and we do our best to minimize all fees, including overdrafts.
“We’re not here to take money out of our customers’ pockets. We’re going to give them the tools and resources to manage their finances,” ReyJane emphasizes.
As we continue to get to know the Red Hook community, we’re lucky to have leaders like ReyJane who are committed to establishing trust and building relationships. She understands the fears associated with the banking industry and is determined to show Red Hook residents how community banks like ours stand out from big banks.
“We’re letting residents know that we offer products and services for this community because we understand the needs of the people that live here. We’re here to build trust and help them succeed. Everyone is a VIP here, whether you have five cents in your account or a million dollars,” says ReyJane.
If you’re in the Red Hook area and looking for a friendly New York banking partner, we’re here for you. Just like our Bronx branch, our Red Hook branch is employed by compassionate individuals like ReyJane, who are here to help you meet your financial needs.
“A majority of our staff lives in Brooklyn. Many of us can relate to what it’s like to have lived in NYCHA housing. We serve people living on Van Brunt and people living in NYCHA housing or other areas of Red Hook,” says ReyJane. “We’re a bank for the people, for the community, and all of our products and services are tailored around putting money back into the community.”
We’re proud to have ReyJane on our team and look forward to building meaningful relationships with Red Hook residents. Together with our Red Hook team, ReyJane is working on outreach, community-building, and expanding our impact.
“I’m at a point in my career where I want to make an impact. I want to support people who may not have the education and the awareness of financial mastery. I want them to know banking doesn’t have to be so transactional and that the bank can be a fun place,” ReyJane says.
At Spring Bank, our customers are more than a transaction – everyone is a VIP. We take the time to assess your goals and recommend the right banking solutions for you. Under ReyJane’s direction, we’re hopeful that we can change the narrative around banking and become a trusted banking partner to Red Hook residents.
Visit our Red Hook branch at 356 Van Brunt St., Brooklyn, NY 11231, and discover our many banking solutions, including business bank accounts, small business lending, personal savings accounts, and personal checking accounts.
A Spring Bank Small Business Feature
Determined to make the best of a sudden layoff in real estate marketing, Laura Schafferman pivoted to entrepreneurship. Known for her amazing sweet and salty cracker cookies, Laura decided to start a business selling them, coining the name Legally Addictive Foods. As the brand grew, Laura made deliveries across New York City by bike, Uber, subway, and foot.
Today, Legally Addictive cookies are sold in over 2000 retailers. We are proud to be their banking partner all these years later. As small business owners in New York City, Laura and Seth, cofounders and partners, knew they would eventually need to relocate to expand product lines, operations, and manufacturing. As lifelong New Yorkers, deciding to leave New York was extremely difficult for them. But demand for their delicious cookies increased so much that they outgrew the space where it all started.
“We left New York City because we couldn’t expand our production. We were in the tiniest place, and it’s tough to manufacture in New York City,” Laura tells us. “To find a space that would house the machinery we needed for automation would have been so expensive.”
So, how did they settle in Appalachia – a place 700 miles from home? During an impromptu trip to Asheville, Laura and Seth contacted a local small business owner to learn about the area. They were almost immediately convinced it was the right move and quickly began the relocation process.
By 2022, Legally Addictive officially relocated operations to Asheville to a 7,000-square-foot, much-needed space to scale their products and revenues. They now have a large warehouse and an operating kitchen, making day-to-day production more efficient and less expensive.
“We got really lucky. It was a fairly easy process, and we’ve doubled our output and team since moving our business and all manufacturing to North Carolina,” says Laura.
In true New York fashion, Laura and Seth took a leap into the unknown and made the most of it. With a larger team and space, Legally Addictive has grown to new heights and expanded its partnerships, introducing more flavors and sourcing ingredients from local businesses.
“We collaborate with Spicewalla, a spice company owned by Chef Meherwan Irani, who is of Michelin star tier here. We work with them on several of our flavors, including salted gingerbread and Mexican hot chocolate,” Seth tells us.
We’re deeply inspired by Laura and Seth’s commitment to business growth. While Legally Addictive Foods called New York City home, we were lucky to be their New York banking partner and provide them with a line of credit and PPP loan.
“When we needed a PPP loan, I called a big bank first. They said it would take weeks. So, I called Spring Bank, and within a day, we had everything we needed regarding the application,” reflects Seth. “I had this misimpression that bigger is better, and that’s not true, especially regarding banking. Working with a smaller bank gives you real customer service and a continual education.”
As a community bank in New York, our customers are more than a number. We make ourselves available to help you in times of need and are determined to find the best solutions for you and your business.
“I’ve gotten help from Spring Bank on the phone past five o’clock. They’re the opposite of what we were brought up thinking a bank is. They’re true partners. I’ve tried to send so many people in New York to Spring Bank,” Seth emphasizes.
We’re so glad Laura and Seth could benefit from our personalized customer service and tailored banking solutions while they lived in our service area. Working with them was a no–brainer. Legally Addictive’s potential is crystal clear, and we are enthusiastic about helping the brand sweeten more lives with its amazing cookies.
As Asheville continues to recover from Hurricane Helene, its small businesses need all the support they can get. Though they’re experiencing delays, the Legally Addictive team is still pushing out orders, and they’ve also introduced new festive flavors like “Salted Gingerbread” and “Peppermint Crunch.” Place an order for your loved ones, or satisfy your sweet tooth! Support more Asheville businesses impacted by Hurricane Helene here.
“We want to get the word out that people should return next season. Not everything will be rebuilt, but it won’t look like what it does now. Tourism isn’t the number one industry here, but it’s definitely a big part of the economy, and Asheville is still beautiful,” Seth tells us.
Thank you, Laura and Seth, for sharing your story and being cherished members of our small business community. We’re so proud of Legally Addictive Foods and look forward to all that 2025 will bring for the business and Asheville’s recovery from Hurricane Helene. Learn more about Laura and Seth’s story here.
If you’re searching for Bronx banks that offer a new business bank account, commercial lending, or other small business bank accounts, we can provide the support you need to flourish. Discover our commercial lending options and learn all about our commitment to growing small businesses.
When you walk into most banks, your first interaction is likely with a teller. If your first interaction falls short of your expectations, it can make or break your banking relationship.
At Spring Bank, we take first impressions seriously. We pride ourselves on hiring professionals who go above and beyond, no matter the task or the time. When you walk through our doors, you’ll have the pleasure of meeting people like Mayra Bravo, our Head Teller, who exemplifies our mission and values with every customer interaction.
“I’m really glad that I applied to Spring Bank because I like helping the community and interacting with customers,” Mayra tells us.
After completing her bachelor’s degree in accounting, Mayra, like many fresh graduates, took time to find her first job. Feeling unprepared to immediately delve into an accounting career and needing to support a newborn, Mayra broadened her job search and applied to one of our open teller positions. She came to us with confidence and a remarkable hunger to learn.
“I enjoy helping my coworkers learn new things. I’m the kind of person that likes to share my knowledge. It’s my goal to help my coworkers see that anything is possible,” says Mayra.
Since joining our team in 2021, Mayra has shown us what it means to be a team player and has greatly contributed to our welcoming environment. This year, we were delighted to offer her the position of Head Teller, where she focuses on creating a high-quality customer experience. Day-to-day, she manages the teller team, trains new hires, and handles reporting and auditing.
“When we’re faced with any difficulty, I speak to my team and try to set an example for them. I want them to see that if I can do it, they can do it,” Mayra says proudly.
Challenges and immense responsibility come with the territory of tellership, but she doesn’t let any problems impact the way our customers – or team – are treated. Like the rest of our team, Mayra embodies leadership values that focus on ensuring everyone has a smooth experience, no matter which side of the desk they’re on. She understands the demands of the job and is always looking for ways to better the teller-customer experience, especially on the inevitable harder days:
“When we have difficult situations with customers, I approach them and ask them what their needs are. Many times, they’re just having a bad day. I’m trying to better understand both my customers and coworkers.”
With a team of tellers, that kind of conflict resolution is integral to keeping us grounded during periods of high volume.
We’re so grateful for Mayra’s enthusiasm and dedication to implementing new ideas and processes. Head Teller may not have been in her initial career plans, but she sure does an amazing job and shows us what it means to do what you love and love what you do.
“We spend so much time at work so you need to make it feel easier and feel happy being there,” says Mayra. “I really enjoy how warm everyone at Spring Bank is.”
If you’re looking for a friendly New York banking partner, we’re here for you. In addition to exceptional customer service, Mayra and her team efficiently handle a variety of transactions, including deposits and check cashing. They’ll also be happy to introduce you to our full product offerings and make recommendations to enhance your banking experience:
“I always encourage customers without a social security number to apply for an ITIN so they can open personal savings accounts and have more benefits. For customers with a checking account, I encourage them to open a savings account so their money can earn money with our high-yield savings accounts,” says Mayra.
We’re so proud to have Mayra on our team and look forward to her continued growth with us. We’re thankful for her contributions to our customers’ experience – something that we prioritize and have ingrained in our mission. Under Mayra’s direction and with our dedicated group of tellers, we’re certain that your first impression of our services will be one to remember.
Discover the benefits of opening a Spring Bank personal checking account. Interested in learning how we can serve your small business? As one of a few community banks in NY, we’re proud to provide transparent lending and business banking solutions. Learn more about our business bank account, small business loans, and more.
Starting or expanding a small business in New York City takes more than just a great idea. It requires financial preparation, market understanding, and a solid business plan. At Spring Bank, we know the importance of operations, organizations, and systems to keep your business organized. Not only does proper business planning set your vision, but it also contributes to your financial sustainability and ability to access capital when you need it. We spoke with team members Germarie Medina, Commercial Loan Underwriter, and Erica Rosero, Small Business & Nonprofit Loan Officer, to provide a few New York banking tips to help you get organized before you seek capital.
- Understand Your Financials Inside and Out
To make a case for a loan or line of credit, you need a comprehensive understanding of your financial history and future projections. Erica has previous experience working at the Small Business Development Center (SBDC) and emphasizes that being financially organized is a critical step. This includes having a clear record of tax returns, balance sheets, and cash flow statements, as well as understanding any past financial challenges and how you’ve overcome them.
“You need to be able to justify your line of credit request. It makes an impression of your character and commitment to your business. Even if your financials aren’t up to par, being able to explain a financial analysis allows us the opportunity to make a case for your request. We can explain to our advisors, ‘Listen, I know the financials are not ideal, but this person knows what they’re doing, and they know their business,” explains Germarie.
- Clearly Define Your Business Goals and Needs
Loan readiness isn’t just about the numbers. It’s about having a well-articulated business plan and being able to explain your goals in action steps. While a business description is helpful, the most important thing is to explain your projections, how you’ll use the funds, and what you aim to achieve. Taking the time to research your market, forecast your growth, and outline future steps shows lenders that you’ve invested time in preparing and that you have a realistic vision for your business. The stronger your grasp of your business’s financial history and future projections, the more convincing your loan application will be to our underwriting team.
“It’s about presenting us the information as best as you can so that we can trust you with borrowing our money,” shares Germarie.
- Know Your Industry and Your Competitors
A deep knowledge of your industry’s landscape and the competitive market is key. As a community bank in New York, we prioritize staying up-to-date on market conditions, and we encourage small business owners to do the same. Thorough market research signals to lenders that you’re prepared to operate strategically in your space. It’s also critical for setting realistic goals and aligning them with your funding needs.
“Who are your competitors? Are you launching a product next year? Are you looking to hire new staff? You need to know the bigger picture of your business goals and be realistic about your industry position and loan ask,” explains Erica.
- Seek Resources and Guidance Along the Way
We understand that running a small business requires wearing many hats. That’s why we’re here to help guide you to free resources for business planning, like SCORE’s templates and webinars through the SBDC and Small Business Administration (SBA). As one of just a handful of community banks in New York, we’re committed to helping small businesses succeed with affordable banking products like our high-yield savings account, and top business checking account for those ready to grow.
“We understand as a business owner of a small company, you are only one person doing the job. But doing the work to understand your business is part of the process, even if you don’t know how to make financial projections or calculations. It is up to you to do the work, but you don’t have to do it alone,” says Erica.
Loan readiness takes effort, but with the right preparation and support, it’s achievable. By following these tips, you’re setting yourself up for success. We’re here to be part of your journey, committed to supporting your business with a small business bank account tailored to your needs and programs that empower your growth.
Ready to take your business to the next level? Explore our lending options here.
A Spring Bank Nonprofit Feature
For five decades, the Northwest Bronx Community and Clergy Coalition (NWBCCC) has spearheaded grassroots leadership and transformation in the Bronx. Under the stewardship of Executive Director Sandra Lobo, the organization has been on the frontlines—confronting disinvestment, home abandonment, and, more recently, predatory development. Their work has transformed the lives of countless Bronx residents, and they continue to be a powerful force for economic and social justice. As NWBCC prepares to celebrate its 50th anniversary, they are not only reflecting on their long-standing impact but are charting a path forward to build a more inclusive and equitable Bronx.
“We’re really proud of the organizing work we’ve been doing for the last five decades. We see it as a legacy of resistance, particularly against disinvestment and abandonment in the 1970s and predatory equity and investment in more recent years,” says Lobo.
The NWBCCC’s membership model is a hybrid system. Through grassroots outreach, individual members go door-to-door, host town halls, and conduct surveys and small focus groups to understand the needs of the community. This personal, on-the-ground approach, ensures that the voices of local residents are heard and incorporated into the Coalition’s advocacy efforts. In addition, there are institutional members such as Christ Church Riverdale, Fordham University, and Local 79 who collaborate to align with the organization’s long-term vision. This model makes it easy for residents and organizations alike to get involved in shaping the future of their neighborhoods, ensuring that the Coalition’s efforts remain community-centered and inclusive.
“We believe that people impacted by community challenges should be at the center of decision-making. They know the issues the best from their own experience, so they need to be included as a partner in developing those solutions,” Lobo explains.
In recent years, the Coalition has adopted a proactive approach, shifting from “fighting back” against harmful development to “fighting forward” by working to scale shared ownership and collective governance over community assets. One of their most innovative steps was the creation of a community land trust in 2020, allowing tenants to own their buildings and ensure long-term affordability. This forward-thinking strategy empowers residents to step into leadership roles, developing policies, programs, and solutions that put community well-being at the forefront. However, this approach moves beyond simple advocacy.
“It goes beyond identifying the problem and demanding changes. We ask, ‘What would it look like if we collectively owned and governed this building? What decisions would we make differently from our negligent and absent landlord? How do we operate to sustain ownership and a safe and healthy building for all of us?’” Lobo says.
At a time when gentrification is pricing out long-time Bronx residents, NWBCCC’s work is more critical than ever. Studios are being built for over $3,000 per month—with “affordable” housing subsidies. In response, NWBCCC has been collaborating with partners like us, who see the power in helping nonprofits access loans and lines of credit to further their mission and strengthen the community.
We are proud to be one of the top banks in the Bronx, having provided critical support to NWBCCC and local businesses, particularly during challenging times like the pandemic. Our commitment to our nonprofit and business clients in the Bronx sets us apart from other banks in New York with our mission to serve communities that traditional financial institutions often overlook.
“A lot of businesses we organized sought out support for PPP loans from different banks, but most of them did not even get a callback. The one that did support them and worked with them to figure it out was Spring Bank,” says Lobo.
In the spirit of continuing its transformative work, NWBCCC is officially expanding its reach through a merger with the Bronx Cooperatives Development Initiatives (BCDI). This collaboration is a strategic step toward establishing a Bronx-wide impact as the two organizations unite to think critically about transforming the local economy. By merging, NWBCCC and BCDI are combining their planning and development capacity to secure more investment opportunities for the borough while focusing on empowering residents to take ownership of community assets. As one of the founding organizations of the BCDI, NWBCCC sees this merger as an opportunity to scale its work beyond traditional boundaries and strengthen the Bronx’s position as a thriving region of 1.5 million people.
Sandra Lobo reflects on the journey, stating, “As we think about where we are headed, we have made it very clear that we need to build the political and economic infrastructure necessary to transform the local economy and combat displacement and gentrification.”
As they continue to strengthen their leadership, grow their partnerships, and advocate for policies like the Community Land Act and the Tenant Opportunity Purchase Act, NWBCCC invites the community to join them in celebrating 50 years of building a better Bronx. Join us as we celebrate NWBCCC’s impact at their 50th Anniversary Gala this year. The gala will celebrate the organization’s rich history and powerfully remind attendees of the work that lies ahead.
Our partnership with NWBCCC exemplifies how local organizing and community banking can go hand-in-hand to create lasting change. As a community bank in New York, we offer various services tailored to nonprofits and small businesses, including business bank accounts and commercial real estate financing. Learn more about how we can support your mission, too.
Did you know there are almost 1500 Community Development Financial Institutions (CDFIs) across the United States? Forty-seven years after the Community Reinvestment Act, we are proud to be among a community of financial institutions and nonprofit organizations with a shared mission of financial inclusion.
Since we opened our doors in 2007 as the first community bank in New York headquartered in the South Bronx in 25 years, we have stood as advocates for economic equity, community development, and financial inclusion. As a CDFI and member of the NYS CDFI Coalition, we’re proud to be part of New York’s CDFI movement and history, dedicated to ensuring individuals, families, and small businesses in the Bronx and beyond have access to affordable financial products and tools they need to thrive.
From the start, our mission has centered on transparency, relationships, and social equity. We believe in full disclosure of our services, personalized service, and partnering with groups that help improve financial literacy and economic opportunity in our communities. Our work aligns with the broader CDFI movement that began in the 1970s to counteract discriminatory lending practices and redlining that prevented marginalized communities from accessing capital.
About 30 years ago, the Riegle Community Development Regulatory Improvement Act created the U.S. Treasury’s CDFI Fund, marking a critical shift for financial institutions committed to serving low-income areas. Since then, CDFIs nationally have become a cornerstone of equitable economic development, managing billions in loans and investments dedicated to underserved communities. However, there’s still work to be done.
With a commitment of $25 million over five years, funds began to circulate to New York State CDFIs in 2021 with a promise from the NYS CDFI Fund to “support the delivery of affordable financial products and services and financial literacy programming to low- and moderate-income New Yorkers.” In addition, as New York’s first B Corp bank and a member of the Global Alliance for Banking on Values (GABV), we stand by our commitment to measuring and reporting on our impact goals.
“We are proud to be part of a movement that has brought so much economic value to low- and moderate-income communities and are also deeply appreciative of the support we have gotten from the CDFI fund that has enabled us to bring innovative and impactful new products to our customers and communities,” says Melanie Stern, Director of Consumer Lending and our CRA Officer.
We remain committed to working alongside other mission-driven banks in New York, credit unions, and CDFIs throughout New York State, urging our elected leaders to continue supporting the financial well-being of all New Yorkers. As we celebrate the 30th anniversary of the CDFI Fund this year, we reflect on our progress, our communities’ resilience, and the work ahead. With our partnerships, advocacy, and unwavering dedication, we’re focused on building a more inclusive and sustainable New York banking sector.
Learn about some of the nonprofit organizations and small businesses we’ve had the opportunity to support, thanks to the CDFI Fund. We offer financial services tailored to nonprofits, small businesses, and individuals alike, each designed to uplift our community. Contact us today to learn more about how we can partner with you.
Creative Stage: A Small Business Feature
When we met Madeline Bender, Founder and CEO of Creative Stage, we were instantly inspired by her innovative thinking and commitment to delivering high-quality performing arts programs to children across New York City.
Founded in Harlem, Creative Stage is an education company that offers unique performing arts programs and experiences for children, including Musical Theater Builders, Dancing Designers, and Film Makers Workshop. The programs, designed to teach skills and abilities that extend beyond the performing arts, reflect Madeline’s background as an international opera singer, arts educator, and producer. Her priority is to deliver meaningful, quality experiences to children. With her expertise, Madeline carefully hires her artist-teachers, curating a team of professional designers, actors, and musicians who work collaboratively with children to help bring their creative visions to life.
“Our teachers are the face of the company. That’s who the kids interact with, and the quality starts there,” says Madeline. “No matter the flashy classes you come up with, the nuts and bolts of our business is that you have talented teachers who are good people with solid judgment and who are also skilled at working with each other.”
As small businesses ourselves, that philosophy resonates deeply with us and reminds us that no matter how cliché it sounds, teamwork really does make the dream work. Having the business idea and individual expertise will get you started, but molding a quality team with diverse skills propels the business forward.
In Madeline’s case, her focus on quality and maintaining a strong team not only propelled the business forward, but also helped them venture beyond their original mission with the creation of Creative Stage Collective (CSC), Creative Stage’s nonprofit sister organization. CSC brings the power of childhood imagination to the stage with an amazingly talented thespian troupe.
“Creative Stage Collective offers public performances, but we still involve the kooky ideas of kids, and kids participate in the performances,” Madeline explains. “It’s a high-octane version of the same methodology we use for our wacky, fun, devised pieces that we create with children that are in our educational programs with Creative Stage.”
CSC’s existence is due in large part to the success of Creative Stage. Starting a nonprofit wasn’t in Madeline’s original plans, but positive parent feedback brewed ideas that inspired her to take her small business journey to the next level.
“Parents told us that the shows we were creating with the kids [through Creative Stage] were really funny and entertaining. It made me think – why don’t we take some of the best material and invite some professional actors to perform it? So, we did that, we got Symphony Space and did it as a scholarship fundraiser the first time, and then it kind of just went from there,” says Madeline.
By 2021, Madeline made the decision to split Creative Stage and Creative Stage Collective into two separate entities – a for-profit company and a nonprofit organization. The significance? As a nonprofit, CSC can grow without diminishing the quality of Creative Stage’s programs.
“In New York City, unless you have a lot of capital, you can’t have a ‘performing’ anything that doesn’t take a huge amount of resources, and we didn’t want to take away resources from our students and the educational piece [through Creative Stage],” says Madeline. “Launching Creative Stage Collective as a nonprofit was the only way to do that because now we can take charitable gifts and write for grants.”
Today, Creative Stage continues to thrive alongside CSC and Madeline looks forward to growing the business by picking up more school clients.
As Creative Stage’s New York banking partner, we look forward to their continued success. Across our many years of partnership with Madeline and Creative Stage, we’ve happily assisted them with various banking solutions, including a PPP loan, business bank account, and dedicated small business support.
“I have to give a big shout-out to Spring Bank because while I was hearing about so many of my colleagues not getting PPP loans during the pandemic, they totally came through and helped me get two PPP loans. Otherwise, I would probably no longer be in business,” Madeline shares.
We’re so grateful that Madeline chose us among the many banks in NY and can proudly say that we’ve also learned a ton from her small business journey. We especially admire her unwavering commitment to delivering quality services and investing in her team.
“With Spring Bank, you get the feeling that there’s an attitude that they want you to succeed, whereas other banks that I’ve dealt with, you get the attitude that you’re just a cog in a wheel, and if you make a mistake, it costs you money,” says Madeline.
Learn more about Creative Stage here. Keep up with Creative Stage Collective’s performances, including their final Summer Shebang event on September 28th, here. If you’re interested in working with a community bank in New York dedicated to your success, our doors are wide open! We look forward to meeting new customers and helping them achieve their small business dreams with our many banking solutions. To get started, learn more about our small business bank accounts and transparent lending options.
“I would not be where I am without Spring Bank. It’s been a long, 12-year battle to get a bank to work with us. Spring Bank saw our vision and the contracts we had with New York City, and they took a chance on us.” —James White, CEO of DTM Parts Supply Inc.
For over 40 years, DTM Parts Supply Inc. has been a family-run business specializing in providing high-quality truck parts to New York City and government agencies. DTM’s expertise touches every industry that relies on trucks to keep the city moving. Led by CEO James White, DTM has grown exponentially, recently surpassing $3.4 million in contracts. This is a remarkable achievement from the $900,000 in contracts they managed less than four years ago. We are so grateful to be part of DTM’s journey.
“We’ve done more business in the last three years than in all 37 years prior,” James proudly notes.
DTM Parts Supply Inc. is no ordinary business. As an MWBE (Minority and Women-Owned Business Enterprise), they are a preferred vendor for various New York City departments, including sanitation, parks, and transportation, making them an essential supplier for the city’s day-to-day operations.
“By being in the truck parts industry, we touch every industry in the world today. Deliveries are needed everywhere,” says James.
DTM Parts Supply Inc. is truly a family affair. James’s wife manages government contracts, his daughter oversees finances, and James himself focuses on New York City contracts. The full-time team of three is eager to grow as the demand for their services continues to rise.
But DTM’s road to success wasn’t always smooth. When James initially sought capital support, many banks turned him away.
“Other banks just gave up and stopped communicating. Spring Bank was the only bank that worked with me to get to the right place,” James recalls.
For James, the relationship with us goes beyond the numbers. Unlike bigger banks, which often see small businesses as high risk, James appreciates that we see his potential and the opportunities his business creates.
“It’s personal at Spring Bank. They know me, and they are there to help. I’ve never had a bank call to ask how they can help me. I’m not leaving Spring Bank,” he says
With plans to expand their contracts with even more government agencies, the future is bright for DTM. As a community bank in New York, we believe in the power of small businesses like DTM Parts Supply Inc. We take pride in providing personalized support to businesses that help our communities thrive. Whether you’re looking for a small business bank account, lending services, or simply a bank that believes in your vision, we are here to help. Discover how we can support your small business’s growth.
“Spring Bank makes a difference by helping New Yorkers reach their goals.” – Smile Butt, Credit Analyst Summer Intern
For Smile Butt, a senior at Fordham University majoring in finance, her personal mission of making a difference in her career aligns with the work she’s doing here at Spring Bank. Over the past three months, Smile has had the opportunity to dive deep into the world of annual financial reviews and strategic financing at our bank in NY.
Having first learned about Spring Bank through a family friend, Smile was drawn to the fact that we are a certified B Corporation. She had been aware of the B Corp certification but was unaware of the certification for financial institutions. Our commitment to ethical banking sparked her interest in pursuing an internship here.
“I didn’t realize that banks could be B Corp certified. Bigger banks do not reach out to the people in our community,” Smile reflects. “For me, working for a mission-driven bank is more meaningful.”
As a Credit Analyst Summer Intern, Smile performs annual reviews to ensure our loan portfolio remains healthy and strong. She finds the most interesting part of her job to be analyzing and researching loan risks. Within a few weeks of working with our commercial real estate team, she discovered our approach to lending is human-centered and customized. We don’t view “risk” in the same way as traditional financial institutions.
“Just because a loan may be deemed riskier doesn’t mean that people [and businesses] shouldn’t be offered support,” Smile explains. “There’s no ulterior motive working with Spring Bank—they are actually trying to help people.”
Our unique community-driven mission has given Smile a new outlook on the banking industry. This perspective is at the heart of our commitment to providing growth opportunities for individuals and small businesses, especially those who may not have access to traditional banking services. Our dedication is evident in our commercial real estate and small business loans, designed to help New Yorkers achieve their financial goals.
“Spring Bank is good at guiding people to help improve their financial mastery. Where some people might not know how to navigate the lending process, Spring Bank can offer that support,” she says.
Working at a bank that prioritizes community has made Smile’s internship experience even more valuable. She also appreciates the opportunity to interact with clients and build trustworthy and transparent relationships. Such hands-on experience is exactly what she was looking for when seeking an internship in finance.
“This is my first banking internship, and I didn’t know much about lending at first, so I’ve learned a lot in this experience,” she says. “It feels good to work with people in the New York community. This aspect makes it a lot more personal and meaningful.”
As she prepares for her final year at Fordham, Smile hopes her experience at Spring Bank will lead to a long-term career in banking. Through her role in assessing loan risks and capital availability, she is gaining confidence and looks forward to exploring other roles within our commercial real estate lending team.
“I recommend joining the team at Spring Bank. The team is great, and you can learn so much. It’s a community bank, so everyone is accessible, even the executive team, making it easier for you to explore various roles and learn a lot,” Smile shares enthusiastically.
Learn more about our human approach to lending. Explore our commercial real estate program here. Whether you’re looking for the best savings account online, a new business bank account, or help with small business accounts, we are ready to help you reach your financial goals.