Crain’s New York Business This banking crisis is nothing like 2009. Small businesses are contingency planning anyway
“The combination of further Fed actions increasing rates and credit tightening that is happening in some sectors could have a detrimental effect on the economy and small business,” said Carlos Naudon, CEO of Ponce Bank in New York City, which makes loans mostly in the $10 million to $50 million range, often to real estate companies.”
SVB collapse could have ripple effects on minority-owned banks
Carlos Naudon is president and CEO of Ponce Bank in Bronx, New York, a minority depository institution serving communities of color; most of its customers are Latinx.
