Bronx's Spring Bank helps small businesses get started

EMBED </>More News Videos

Lauren Glassberg has the story of a bank supporting small businesses in the Bronx.

Most banks pride themselves on conducting big business, but one bank in the Bronx is thinking a bit smaller. Spring Bank is throwing its support behind small businesses in the area to benefit the neighborhood.

An example of this is the story of a new restaurant called Belle Harlem.

Darryl Burnette was the chef at Bergdorf Goodman for four years and dreamed of starting his own eatery.

"The biggest challenge was securing the small loan that helped us get over the final hump," he said.

When bigger banks turned him away, he was referred to Spring Bank, the first bank incorporated in the Bronx in 30 years.

Spring Bank is a certified B-Corporation, which means it uses its business for good, seeing opportunities in small loans for both its bottom line and to help the community.

Spring Bank's Harlem branch found value in giving Burnette a $60,000 loan.

"Luckily, they believed in the project," he said. "And more importantly, believed in the neighborhood."
Related Topics:
(Copyright ©2016 WABC-TV. All Rights Reserved.)

Load Comments