Valley Green Bank went well south of its Mt. Airy and Germantown locations for its newest branch opening.
The bank’s CEO, Jay Goldstein, along with Mayor Michael Nutter, held a ribbon cutting ceremony Friday for the new Valley Green Bank branch at 1536 South Broad Street, at the corner of South Broad and Tasker streets.
At the ceremony, Mr. Goldstein pointed to the entrepreneurial community in Philadelphia as one of the main reasons Valley Green Bank will be lending to small businesses during difficult financial climates, whereas other banks may shy away from lending.
“I sit back and have a totally different perspective as to what’s happened over the last five years or so,” Mr. Goldstein said. “So much of that is attributable to the business, entrepreneurial and development community here in Philadelphia, [which] doesn’t believe we are a city in the decline, but believes that the future is really positive.”
Mayor Michael Nutter cited the bank’s loans of up to $500,000 for small businesses and non-profits as key for neighborhood revitalization.
“It’s not been easy for any business,” Mayor Nutter said. “But throughout the recession, Valley Green Bank was and now continues to be a strong protector and supporter of small business.”
The bank will officially open Monday, June 10.