In celebration of Small Business Month 2026

May is Small Business Month, but for most entrepreneurs, every day in business is an important one! One of the most useful things a small business owner can do this month, almost halfway through 2026, is to sit down with the numbers and think strategically and realistically about where the business is going.

Financial projections are the tool for that, and you don’t need a finance background or expensive software to get started. All you need are accurate records, your business plan, and a willingness to think through the future in concrete terms. Here are a handful of useful tips:

The Three Documents You Need

Financial projections are structured estimates of what the business will earn and spend over a defined future period. They draw on three documents: a sales forecast that estimates future revenue based on historical patterns, an expense forecast that maps fixed and variable costs going forward, and a cash flow projection that tracks when money will actually arrive and leave. For business owners who maintain a dedicated small business checking account with a clean transaction history, building these projections is significantly easier. Your account records are the primary data source, and well-organized finances produce more accurate forecasts.

Building Your Projections From Scratch

Start with what you already know. Pull the last 12 months of revenue data and look for patterns: which months are stronger, which are slower, and what drives the variation. Identify fixed costs: rent, insurance, loan payments, and permanent payroll. Then, layer in variable costs that move with revenue: inventory, contract labor, transaction fees. The gap between projected revenue and total costs, plotted month by month, is your projected cash flow.

The 6-Month View: Operational Clarity

The six-month projection is the window where you have the most reliable data and the most direct control. Use it to anticipate cash flow gaps before they arrive, plan for upcoming expenses, and make staffing or inventory decisions with a clearer picture of what revenue will support. If a slow period typically arrives in months three and four, a six-month projection makes that visible in advance, when there’s still time to build reserves or adjust expenses before the pressure is on.

The 12-Month View: Growth and Financing

A 12-month projection shifts the lens toward growth. At this point, you’re thinking about hiring, equipment investments, and whether the business’s trajectory supports your goals for the year. It’s also the window most relevant to financing — lenders like us, reviewing a small business loan application, want to see that the business has thought carefully about its financial future, not just that it has performed well in the past. A well-constructed 12-month projection, grounded in real historical data, considerably strengthens your application.

The Three-Year View: Direction Over Precision

A three-year projection will likely be less precise, but it’ll give you the direction you need. You’re making assumptions about market growth, demand, pricing, and capital needs that can’t be predicted with total accuracy.

Three-year projections are most useful when considering significant investment decisions, like a new location, a major equipment purchase, or a key hire. You should also account for debt: if the business plans to take on financing in year two, the repayment obligation needs to be reflected in the year-three cash flow picture.

How Your Banking Relationship Fits In

At Spring Bank, our offerings, including our small business checking accounts, are built to support local small business customers at every stage of their financial development, including planning.

For business owners in the Bronx, Brooklyn, and across New York City, having a relationship with a community banker who understands the local market and can connect with your lived experiences goes a long way. Here, you’re more than an account number. We truly value your small business journey and want to see you succeed. This alone sets us apart from traditional banks, which often use automated algorithms in their lending process, rejecting you before you even get a chance to introduce yourself.

Don’t Be Afraid of Being Wrong

A projection that diverges from actual results provides valuable data for the future. When revenue comes in below forecast, the question is why: was the sales assumption off, did timing shift, or did an unexpected cost arise?

Ultimately, tracking differences between projected and actual figures month by month builds a progressively more accurate model of how the business operates. Business owners who regularly revisit their projections also develop a financial intuition that benefits them when making decisions in the long run.

Resources

The SBA’s business planning guide covers the core components of financial forecasting and includes templates for income statements, cash flow statements, and balance sheets. The SBA’s network of Small Business Development Centers and SCORE mentors provides free one-on-one advising, including support with projections, which is particularly useful for business owners building their first serious forecast. NYC Small Business Services (SBS) also offers borough-based advising through its Business Solution Centers.

This Small Business Month, take the next step and connect with us. Whether online or in-person, we’re excited to meet you and learn more about your goals.

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.

A Spring Bank Customer Feature

The best part about opening a branch in Red Hook? Getting to know and be in service to Brooklynites—starting with our first customer, Nico.

Five years ago, Nico, a TV and film music writer, moved from Manhattan to live in Red Hook. Not only did he relocate during the chaos of the pandemic, Nico was undergoing a few personal transitions. He knew Red Hook would be a great neighborhood to start his new beginning. The first time Nico visited Red Hook was in the back of a pick up truck in the early 90’s with a writer friend.

“Red Hook was not a place many people visited back then, and there were few small businesses. In fact, Sunny’s, the iconic bar and roots music venue, was only open once or twice a week and with no liquor license. And, it was cash only, at the end of the evening.” explains Nico. “There was a unique neighborhood quality then, that continues.”

As soon as Nico moved to Red Hook, he quickly plugged into the community. From hosting meals, to getting involved in community issues, and joining local boards like the Red Hook Business Alliance, he was eager to give back.

“This community has helped me in so many ways. Red Hook has helped me focus on purpose, within a community. It’s a neighborhood where everyone’s dogs know each other’s names,” Nico muses “We are a very purposeful, organized and tight knit community.”

After Nico’s father passed away, he was left with some capital. His brother guided him to take out a CD (Certificate of Deposit) to accelerate his savings. He knew he was fed up with decades of experiencing the impersonal nature of much larger banks. Just one block from his house, he stopped by our branch, and introduced himself to ReyJane, our Red Hook Branch Manager. He was ready to open a checking account and explore personal savings account options.

“From day one, the team at Spring Bank was so welcoming. I am involved locally in various public service efforts, and the fact that they invest in the local community created a lot of value for me. It’s exactly the way a bank should be run. Right from the beginning, Spring Bank has become an important part of our community,” says Nico.

We are so honored to work with you, Nico, and the entire Red Hook neighborhood. As we celebrate our first Brooklyn anniversary, we hope you’ll get to know more about our everyday, affordable banking products like our personal checking account, and high-interest savings.

In Partnership with Our Nonprofit Partner, GreenPath Financial Wellness

According to a recent WalletHub survey, nearly 3 in 4 people say their financial situation impacts their mental well-being, and 69% of Americans feel insecure about their finances. It is no wonder so many of us are tired of traditional “new year, new budget” advice. Financial wellness does not have to mean strict spreadsheets. It is about taking small, actionable steps to feel more in control.

Do This: Review your spending patterns
Not That: Start with a strict budget

Take a week to observe how you actually spend. Look at your bank statements and credit card bills to spot patterns. Are subscriptions you no longer use still draining your personal checking accounts? Are grocery runs adding up to more than you realize?

When you understand where your money is really going, you can make small, realistic adjustments – like shopping for generic brands or switching streaming services seasonally. Real progress beats rigid plans every time.

Do This: Automate what you can
Not That: Rely on willpower to save

If you have ever meant to transfer money into a personal savings account but forgot (again), automation can help.Schedule automatic transfers to savings on payday, set up direct deposit to savings, or set up autopay for bills to avoid late fees.

This trick works because it removes temptation and decision fatigue – two major barriers to saving consistently. Even a small automatic transfer adds up over time. Think of it as paying your future self-first.

Do This: Build an emergency cushion
Not That: Wait until you can save “enough”

A full emergency fund (three to six months of expenses) sounds great on paper and can feel impossible when money is tight. Start smaller. Even $20 a week builds momentum. Keep it in an easy-access account, separate from other money, so it does not get mixed with daily spending.

This cushion in your personal savings account helps prepare you for unexpected costs – a car repair, a surprise bill, or even a missed paycheck – and gives you confidence that you can handle what comes your way.

Do This: Plan for joy – not just bills
Not That: Treat fun as “extra” or “unnecessary”

Your budget should not just be about survival. Planning ahead for things that bring you joy, like a family outing, a weekend getaway, or even a nice meal out, keeps your financial plan sustainable. When you budget for joy and happiness, you are less likely to fall into guilt spending or burnout later.

Do This: Check your credit and debt picture
Not That: Avoid it because it feels stressful

It is tempting to look away from debt; however, facing it head-on is the first step to taking control. Pull your free credit report at AnnualCreditReport.com and review all your balances, interest rates, and due dates.

Focus on paying off the smallest balance first (the “snowball” method) to build momentum or tackle the highest-interest debt first (the “avalanche” method) to save money over time.

Do This: Seek trusted support
Not That: Navigate your finances alone

You do not have to have every answer to feel financially confident. Our team here at Spring Bank is ready to help you gain control, build up your personal savings account balances, and if you are dealing with debt, GreenPath offers free financial counseling, and they can provide guidance to lower interest rates, reduce payments, and reduce your stress in the coming year. Contact them here.

In Partnership with Disability Opportunity Fund & the National Disability Institute

There are acts of generosity in our lives that we don’t forget whether we are the giver or the receiver. This holiday season, we are so happy to create a little extra joy for 10 families who have been able to purchase modified vehicles by participating in our Assistive Technology Loan Program.

In partnership with Disability Opportunity Fund (DOF), a fellow Community Development Financial Institution (CDFI) and nonprofit lender based here in New York City, over $295,000 of outstanding loan balances for modified vehicles were paid off, no strings attached. This includes, adapted cars, and modified vans for wheelchairs like the one that Kathryn received in 2024. The highest balance pay off for one family will be nearly $40,000!

CEO Charlie Hammerman who founded DOF 18 years ago with his wife Nanci, views the organization’s role to “finance creative, highly scalable solutions for people with disabilities and their families.” So, when he was approached by the National Disability Institute to take the program over, he knew it was aligned.

“Two CDFIs came together to provide an early holiday gift for families. Spring Bank and DOF have been in partnership for a long time, so this is a simple way for us to give back,” says Charles.

We were so pleased to assist families in purchasing their modified vehicles and to be able to work with DOF to provide this early holiday gift. As a community bank in New York, we are always looking for more ways to contribute to the needs of families. Learn more about the Assistive Technology Program, the work of DOF, and the National Disability Institute.

Our GoGreen Cycle Loan Getting New Yorkers Where they Want to Go

Whether you are looking for a healthier, more environmentally friendly, and cost-effective way to commute, or for using your bike for work, our GoGreen Cycle Loan supports bike purchases for customers regardless of credit history.

How does it work? As a community bank in New York, we partner with bike shops across New York City to offer affordable and inclusive bike financing with rates as low as 10.00% APR. No credit score is required for eligibility. Anyone 18 years or older with a minimum salary of $20,000 can visit any of the shops below to pick out your bike of choice and then visit our website to apply for the GoGreen Cycle loan! We pay the bike shop for the purchase while you pay your monthly loan payments. And all your positive payments can help your credit score roll upwards.

Bike Shop Highlights

GoGo Gone

A longtime partner of ours, GoGone is located in Manhattan at 317 Grand St. GoGone sells all kinds of bikes, including road, mountain, commuter/urban, hybrid, and children’s bikes. They also offer bike service & repair, bike fitting, bike trade-in, bike accessories, and bike parking/storage.

GoGone is open Tuesday-Friday from 12 PM – 7 PM and Saturday-Sunday from 11 AM – 7 PM. Reach them by phone at 347-949-2798 or by email at [email protected].

Echelon Cycles

Echelon Cycles is located in Manhattan at West 19th St. and sells various types of bikes, bike brands, bike parts, bike accessories, bike clothing, helmets, shoes, and more. Road, mountain, cyclocross, commuter/urban, electric, hybrid, and cruiser bikes are all available at Echelon. They also offer bike rentals, fittings, storage, and repair & tune-ups.

Echelon Cycles is open Monday-Saturday from 10 AM – 6 PM and Sunday from 10 AM – 5 PM. Contact them by phone at (212) 206-7656 or by email at [email protected].

Roy’s Sheepshead Cycle

Located in Sheepshead, Brooklyn, Roy’s Sheepshead Cycle has been around since 1931 and offers a variety of bikes, including road, mountain, commuter/urban, comfort, cruiser, and fitness bikes. Bike service & repair and bike fitting are also available.

Roy’s Sheepshead Cycle is open Monday-Wednesday, Friday, and Saturday from 10 AM – 6 PM, Thursday from 10 AM – 8 PM, and Sunday from 11 AM – 6 PM. Pick out your new bike at 2679 Coney Island Ave Brooklyn, NY 11235! Contact the shop by phone at (718) 648-1440 or by email at [email protected].

Ride Brooklyn

Ride Brooklyn is situated in the Park Slope neighborhood of Brooklyn at 468 Bergen St. Ride Brooklyn sells a variety of bikes, including casual, gravel & touring, and electric bikes. With various brands, styles, and price points to choose from, there’s a bike for every budget. Bike fittings, rentals, and repairs are also available.

Ride Brooklyn is open Monday-Friday from 11 AM – 7 PM and Saturday-Sunday from 11 AM – 6 PM. Get in touch by phone at (718) 857-7433 or by email at [email protected].

Propel

Located at 134 Flushing Avenue, Brooklyn, our partners at Propel sell only pedal-assist electric bikes that meet their standards. Best known for selling high-quality e-bikes, they are also working to educate local legislators to ensure e-bike riders are treated fairly under the law and making sure that e-bikes are represented responsibly in the media. Various e-bike brands are available.

Get in touch with Propel Monday-Friday from 9 AM – 5 PM at (646) 736-7716.

Get Your New Ride Today

We’re proud to partner with bike shops across New York City to offer our GoGreen Cycle Loan Program! With low monthly payments and no credit score requirement, we’re able to help more New Yorkers get their hands on a new bike. To participate, visit any of our partner bike shops, pick your new bike, and apply for the loan via our website. If you’re a bike shop interested in becoming a partner, the GoGreen Cycle Loan Program is available at no extra cost to you and you’ll receive funds as soon as customers are approved for the loan. Learn more about the program here.

To learn more about our other participating bike shops and other Spring Bank banking services, including personal checking, personal savings, and business bank accounts, visit our website.

Whether you celebrate the holidays with family and tradition, host friends in ugly sweaters, or savor some well-earned downtime, financial worries can cast a shadow on the season. But they don’t have to.

Our nonprofit partner, GreenPath Financial Wellness, can help. A trusted national nonprofit organization, GreenPath has been helping people regain control of their financial lives since 1961. They work with individuals to repay debt and build stronger financial foundations—so that all of us can enjoy the holidays with peace of mind.

Here’s how they make that happen:

✨ Customized Plans for Your Needs
Certified financial counselors will work with you to create a personalized plan that addresses your unique financial situation, helping you manage your debt and make the most of your budget.

✨ Reduce Your Financial Stress
Their program focuses on lowering your interest rates, enabling you to pay off your debt more quickly and efficiently. Enjoy the season without the anxiety of looming bills.

✨ Ongoing Support and Resources
Join a community of individuals just like you who are taking steps toward financial wellness. With GreenPath, you’ll have access to tools, webinars, and resources to help you navigate this season and beyond. They can help you determine how to manage debt payments while contributing to a personal savings account.

✨ A Fresh Start for the New Year
Imagine kicking off the new year free from the burden of holiday debt and with personal savings. With the support of GreenPath, that vision can become your reality.

The holidays are meant to be enjoyed, not spent worrying about bills and credit card debt. Let GreenPath take the stress out of your financial planning this season, so you can get back to the important stuff.

Any Spring Bank customer can take advantage of free, confidential one-on-one counseling. As a community bank in New York, your financial health is core to our success. Ready to take the first step? Get started here: https://www.spring.bank/greenpath/

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.

Jemmy Alarcon, AVP/Senior Commercial Loan Closer: A Spring Bank Staff Feature

At Spring Bank, we pride ourselves on fostering a community of dedicated professionals united to serve our community with integrity, excellence, and care. One such integral team member is Jemmy Alarcon, AVP/Senior Commercial Loan Closer. She is a testament to hard work, dedication, and excellence in the banking sector.

“It was my destiny to be in banking,” Jemmy reflects. “I am so happy this path led me to Spring Bank.”

For over nine years, Jemmy has been an invaluable asset to our commercial real estate lending team. With over 20 years of experience in banking and commercial lending, her journey started in South America. Born in Ecuador and raised in Lima, Peru, Jemmy’s passion for banking was ignited early on; most of her family worked in the banking industry. She majored in accounting and auditing, finding a particular interest in auditing due to its investigatory nature.

“Auditing involves engaging research and finding hidden data,” she explains, though she also acknowledges the importance her accounting background provides in her financial career.

In Ecuador, Jemmy worked for a local bank before moving to the United States as an international student. She initially applied for a teller job but was swiftly promoted to the commercial lending team. This experience worked well with her detail-oriented personality, which is crucial for closing high-stakes deals.

“During my early years in the banking industry, I was lucky to learn from great professionals who shaped my skills and helped me gain valuable insight into the role I have now. In my field, one never stops learning,” she shares.

Jemmy’s role on our commercial lending team is multifaceted. Once loans are approved, she begins the meticulous closing process, ensuring all documentation is accurate and complete. Her role requires her to communicate complex information to borrowers, often dealing with various third parties like real estate attorneys, insurance agents, and brokers. Despite the challenges, Jemmy finds great satisfaction in her work.

“Learning how to navigate different people is a true skill. Even though it can be hectic when you close the loan, you feel satisfied at the end of the day because you know you’ve helped a small business owner,” she says.

We work hard to provide personalized support and ensure that closings happen efficiently and on time. As a community bank, we stand by communication, professionalism, and efficiency. Our goal is to help our customers as much as we can. Even if they ask questions unrelated to closing, we will always refer them to the right person.

“Our commercial lending team is strong. We can multi-task, problem-solve, and thrive under pressure. Our clients do not go through various levels of bureaucracy to reach a real person,” shares Jemmy. “We offer every person the same level of care and respect. So, I feel very comfortable working in this space. When I go to the office, I’m surrounded by my colleagues; many of us are part of the Hispanic community. We have camaraderie and closeness to the executives. I know I can easily reach out to the manager, the president, executives, and everyone else. I really appreciate that part of working here.”

Jemmy’s contributions to Spring Bank have not gone unnoticed. She joined as a senior closer and was promoted to VP a few years ago. Looking ahead, she aspires to expand her department, bringing on more junior and senior closers and specialized experts to further streamline our lending processes. For Jemmy, every loan closed is a success because when a deal is closed, an entrepreneur takes a step forward to achieving their business goals.

“Every loan that we close is a success to me. I don’t compare small loans to bigger real estate ones because, for the borrower, that amount of money is important to their business. I feel proud of all our closings because we put the same effort into each deal regardless of the amount. If it’s important to you, it’s important to us,” she says.

Here are a few tips from Jemmy that will help borrowers better prepare for the closing process:

Pick the right attorney to assist you legally. Hire a real estate attorney if you are borrowing for a real estate process. This will make the process smoother than using an attorney who does not have experience or an understanding of the common closing procedures.
Lawyers and borrowers must provide closing items and meet requirements in a timely manner for a smooth closing process. It takes approximately 3-4 weeks to close a commercial real estate loan; however, this process can always be expedited if each party is committed to working towards the same goal.

Jemmy’s hard work and journey inspire us all, and she encourages more women to pursue careers in commercial lending and banking.

“Banking and lending are careers for women. If you like challenges and want a space to develop your skills, closing is for you. You will feel rewarded despite the challenges,” she says.

Discover the benefits of the Spring Bank commercial lending team and real estate program. Looking for the best savings account online or need to open a new business bank account? As one of the top banks in NY, Spring Bank offers comprehensive solutions for your financial needs. From business checking accounts to small business accounts, and even if you want to apply for a personal loan, our team is here to assist you. Contact us to learn more.

In Partnership with GreenPath Financial Wellness

Owning a small business comes with satisfying rewards like being your own boss, making your own schedule, and doing what you love. However, with these benefits comes the responsibility of money management. There are best practices for setting up a new business bank account and managing your small business accounts that can help your business thrive in the long run. Read these tips to guide the foundation of your financial success:

Build a Budget: To lessen the risk of overspending, plan for your expenses in your business checking account. This includes fixed costs like rent and utilities, variable expenses such as supplies, and one-time purchases like equipment. Remember to account for taxes and an emergency fund for unexpected expenses.

You can track expenses using a manual bookkeeping system, or you can take advantage of budgeting tools for businesses that can ensure your budget is precise and strategic. We offer some free resources to help you track your budget including access to Autobooks for all customers with small business bank accounts.

Separate Accounts: Operating your business using your personal checking account puts you at high risk. Opening a separate business checking account and credit card for your business keeps you organized and protects your personal assets from liabilities in the event of legal issues or bankruptcy. Keep your small business accounts for business expenses only.

Manage Debt Wisely: A personal loan may be necessary to finance your operations or expand your business. However, high-interest rates can do more damage to your profits and credit. Choose your financing options wisely, and consider our non-predatory small business lending options. We not only offer loans at competitive rates, but we’ll work with you and your financial needs to ensure lending benefits your goals, not hinders them.

Plan for Emergencies: Building an emergency fund provides a buffer during difficult times and allows you to withstand temporary setbacks. Strive to set aside three to six months’ worth of operating expenses in a dedicated savings account. We’re one of the few banks in NY that offers the best savings account online. An emergency fund is meant as a last resort, so try not to take money out unless absolutely necessary.

Evaluate your Finances Regularly: Checking in on your budget can help you adjust accordingly as your business evolves. With your Spring Banks small business accounts, you can access free professional guidance from financial advisors and experts at GreenPath Financial Wellness, who can help you navigate your finances and stay on track with your goals.

This content does not constitute tax or financial advice. It is advisable to seek guidance from a licensed professional tailored to your individual circumstances.