New Entrepreneurs Graduate from Ponce Bank Small Business Boot Camp

Six local businesses receive awards from Ponce Bank and Fiserv after impressing judges

NEW YORK, July 24, 2024 (GLOBE NEWSWIRE) -- Ponce Bank recently celebrated the graduates of its Bronx, Manhattan and New Jersey Small Business Bootcamps, part of a series of programs providing essential business planning, strategies, and tools for growth, free of charge, to local small business owners and aspiring entrepreneurs, helping them achieve their goals.

During the event three local business owners from the Bronx and three from Manhattan and New Jersey, who previously pitched their business ideas to a panel of judges, were recognized and presented with awards they can use to grow their businesses. The awards are sponsored by Fiserv, a leading global provider of payments and financial technology, including the popular Clover point-of-sale and business management platform.

The Small Business Bootcamp Bronx award recipients are:

Jennifer Silvestre, Nasir + Idie Kids, apparel and fashion for children with special needs, will receive $10,000.
Melissa Groneveldt, Yummy Tummy, gluten free, sugar free sweets and treats, will receive $7,500.
Saraciea Fennell, The Bronx is Reading, promotes literacy and fosters a love of reading, will receive $5,000.

The Small Business Bootcamp Man/NJ award recipients are:

Wioletta Sudol, The Helper Bears, LLC, empowering older adults with tech education and confidence, will receive $10,000.
Emely Martinez, Roxanna, affordable, elite fashion for all body types, will receive $7,500.
Chere Montgomery, WealthStorm Consults, Business Consultants, will receive $5,000.

“Small Businesses are the beating hearts of our communities, providing jobs, cultural diversity, and aspiration to so many of our customers and we’re proud to support these emerging community leaders in their journey through this powerful educational initiative,” said Ponce Bank President and CEO Carlos Naudon.

With the support of The Business Outreach Center Network, whose mission is to improve the economic prospects of traditionally underserved groups, including low- and moderate-income entrepreneurs and their communities, Ponce Bank's Small Business Bootcamp has seen impressive attendance. More than 1,100 people from across the city have completed the Small Business Bootcamp since its launch in 2020.

Nancy Carin, from The Business Outreach Center Network shared these remarks at the graduation ceremony: "We are incredibly proud to have partnered with Ponce Bank and Fiserv to support and celebrate the success of the Ponce Small Business Bootcamp series in the Bronx, Manhattan and New Jersey. Graduating these talented cohorts of entrepreneurs marks a significant milestone in our mission to foster economic inclusion and uplift underserved communities. We are especially thrilled to recognize the inspiring businesses that pitched their businesses and won awards as part of the series. Their achievements highlight the incredible innovation and success within our community. Together, we are dedicated to continuing our efforts to create opportunities and drive growth for local businesses in the Bronx, Manhattan and New Jersey.”

The most recent session brought together entrepreneurs for a four- session program, held during this past May and June. Participants engaged in sessions that provide foundational information for start-up businesses, including small business banking, accounting principles, business planning, and how to qualify for business loans.

During the graduation event, the award recipients shared what these funds mean to them and how the experience impacted their growth as future business leaders.

Jennifer Silvestre, Nasir + Idie Kids (Clothing Brand for Children with Disabilities) observed: “I think a lot of things with smaller businesses, especially coming from places like the Bronx, we just don't know what resources there are. How can we move our business forward? And so the boot camp really allowed us to think through what next steps we can take advantage of at each stage.”

Wioletta Sudol, The Helper Bears, LLC (Rebuilding Neighborhoods by Connecting Communities) commented: “My involvement gave me a lot of education so that I could lead a successful business, but winning this competition gave me the confidence I need, because people believed in my vision and what I’m trying to do to impact society.”

“Community Development Financial Institutions like Ponce Bank play a critical role in closing the wealth gap by providing access to financial services in low-income communities, as well as access to capital for diverse small businesses and entrepreneurs,” said Neil Wilcox, Head of Corporate Social Responsibility, Fiserv. “Our collaboration with the bank fulfills our mutual commitment to enable small business growth and help entrepreneurs create positive impact in our communities.”

In addition to award funding, Fiserv also provided subject matter experts for The Small Business Bootcamp, including Fiserv leaders and community partners in the entrepreneurship space.

About Ponce Bank (Part of the Ponce Financial Group, NASDAQ:PDLB)
Founded in the Bronx in 1960 during a time when most financial institutions were fleeing the area, Ponce Bank has been on a mission to improve financial outcomes for minority and immigrant communities throughout the New York Metro area ever since. The bank has grown to 13 branches, 5 mortgage loan offices, 2.8 Billion in assets, and its parent company Ponce Financial Group is listed on the NASDAQ stock exchange (PDLB). Ponce Bank consistently ranks near the top of all CDFIs in the country for housing focus and impact lending.

About Fiserv
Fiserv, Inc. (NYSE: FI), a Fortune 500 company, aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and has been recognized as one of Fortune^® World’s Most Admired Companies™ for 9 of the last 10 years. Visit fiserv.com and follow on social media for more information and the latest company news.

Contact:
Sergio Vaccaro
sergio.vaccaro@poncebank.net
718-931-9000