Every entrepreneur needs a small business account to monitor daily expenses and make financial projections. But, our small business account goes a step further. When you open a business checking account, you also get access to our award-winning banking team that can help you expand or reimagine your venture.
As a small business ourselves – and as a community bank in New York City – we know that thriving small businesses are the key to flourishing communities. After all, most of our country’s firms are small businesses. So when you open a business checking account with us, we get to know you and give you firsthand access to innovative and affordable financial products that put you one step closer to accomplishing your dreams. Unlike larger banks that typically prioritize large corporations, we listen to our community. As a result, we prioritize our small business account clients in our small business lending efforts with loans starting at $10,000. And we are an SBA Preferred Lender.
Just look at our PPP lending efforts. In 2020 and 2021 we secured over 700 PPP loans – valued at $150 million–for small businesses and nonprofits in the New York City area. Many of them were small business account and nonprofit checking account clients; others were small businesses and nonprofits who were having trouble getting a response from their bank – at a time when they needed them most. So we were happy to step up and have continued to do so. It’s what community banks in New York City exist to do.
We are so lucky to see the fruits of our labor. According to a new report from Georgetown University, community banks like us made more PPP loans than larger banks. But, even with vaccinations rates rising and business opening for business, we know that the financial fallout from the pandemic will be with us for many more years to come. So, we will continue to stand with our small business account holders until our city recovers.
When you have a small business bank account with us, you can also use our online banking system and app. With an online business bank account, you get access to our staff that can help you manage your money and business with the click of a button. One of the many perks of having a small business account with a community bank is personalized attention and flexibility.
Still have questions about our small business account? Check out our work with local New York City small businesses like Harlem Pizza Co, Ultranauts, and Chelsea Restoration Project. Learn more about what makes our small business accounts unique here. Contact us at [email protected] for more information.
