Small businesses have a large impact on their communities, but being a small business isn’t easy. Ponce provides innovative solutions like the Empire State Development Linked Deposit Program, which lowers the interest rates small business borrowers pay, and Prosper small business loans of up to $25,000. Credit decisions for Prosper loans are based on demonstrated business cash-flow not credit score. These programs meet our small businesses where they are and help them access the capital they need to thrive and grow. Small Businesses: We Invest in our Neighbors
2024
Commercial and Industrial Loans
“Small business is a misnomer; small businesses are the largest employers in America”
38
Total Business Loans
$17.4MM $2.0MM
Amount of C & I Credit Accessed
Loans $ to Low- to Moderate-Income Borrowers
- Carlos P . Naudon , Ponce Bank President & CEO
$364,524
$ of Prosper small business loan originations
$11.7MM
SBA Loans
Impact Focus: $MALL BUSINESS BOOTCAMP In 2021 Ponce Bank received community requests for educational opportunities for small businesses in low- to moderate-income areas and minority communities. To meet this need Ponce Bank partnered with the Business Outreach Center to create and deliver the Being Ready Series, a course of four free classes designed to help small businesses learn healthy financial practices. At the request of the participants and community; the series; shared in the Bronx, Brooklyn, Queens, Manhattan, and New Jersey; expanded to include a second series of classes in 2022 and a third series of classes in 2023. In 2023 the expanded series was renamed the $mall Business Bootcamp, to better represent the series’ intended audience and topics.
233 116 10 2024 $mall Business Bootcamp graduates Graduates with business generating less than $1MM in annual revenue Graduates that self- identified as having a disability
In 2024, 403 business owners participated in the Ponce $mall Business Bootcamps. Ponce Bank is excited to continue meeting a communities’ need and growing and expanding the series further in the future.
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