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On January 9, Spring Bank, a bank with a mission to serve the underbanked, opened a new branch in Harlem at 2049 Frederick Douglass Blvd at the corner of W. 111th Street. Spring Bank expands with a second branch in Harlem after establishing its headquarters and first branch in the South Bronx in 2007.

Citing a Manhattan Borough President Office report that notes 38% of the Harlem community does not have a bank account, Spring Bank’s objective is to meet the needs of those lacking banking access. The bank seeks to serve the Harlem community in two areas, “to provide services that give the underbanked the tools they need to build assets and to serve the underserviced smaller businesses of Harlem.”

Opening day began with a ribbon cutting ceremony and concluded with an evening gala event hosted by radio personality and WWRL host Mark Riley. The event attendees included Representative Charles Rangel and other city officials, representatives of nonprofit organizations, and local business owners.

Spring Bank Vice President and CRA officer Brian A. Blake spoke at the opening day gala and stated, “Spring Bank is committed to becoming an integral part of the Harlem business community. We are here to offer traditional term loans, operating lines of credit to small businesses, and a competitive SBA Loan Program to neighborhood businesses which are so often underserved by larger banks.”

View our slideshow of the opening day highlights.

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For more information visit: www.springbank.me