Press Release

Cross River Celebrates Hispanic Heritage Month with Focus on Financial Empowerment

Cross River

October 18, 2023

4 min read

Company’s partnerships with the Statewide Hispanic Chamber of Commerce of New Jersey and Prospanica provide resources and training to Hispanic-owned Small Businesses

FORT LEE, N.J. - Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, proudly celebrated Hispanic Heritage Month, which runs from September 15th to October 15th every year and honors the incredible contributions and influence of Hispanic Americans.

“Hispanic Heritage Month is a celebration of the rich tapestry of the Hispanic culture and an opportunity to highlight the immense contributions of Hispanic Americans the world over,” said Assemblywoman Yvonne Lopez (D-19). “Let us use this month to listen, learn and appreciate the Hispanic identity.”

For the second consecutive year, Cross River joined the Hispanic Chamber of Commerce of New Jersey to empower the next generation of entrepreneurs via a business pitch competition for aspiring and current Hispanic small business owners. The contest, open to those who have completed the Hispanic Entrepreneurship Training Program (HETP) and the Latina Entrepreneur Training Series Program (LETS), featured eight finalists with businesses stemming from the industries of technology, tax and accounting services, skincare, event services, and health and wellness.

"We're thankful for Cross River's continued support of our programs and events that enables us to promote the continued growth and development of Hispanic businesses in New Jersey,” said Carlos A. Medina, ESQ. President and CEO of the Statewide Hispanic Chamber of Commerce of New Jersey. “Cross River's support is important to assist our members with access to capital, access to network, access to new markets, and access to knowledge. We look forward to continuing to partner with Cross River."

“At Cross River, empowering diversity, equality and inclusion are at the core of what we do and we are honored to celebrate the extraordinary achievements of our Hispanic community, employees and partners,” said Nicole Henderson, Head of Community Affairs at Cross River. “Founded on the tenets of community and financial inclusion, our partnership with the SHCCNJ allows us to propel and give back to the Hispanic community by providing business owners with the tools they need to succeed.”

Open to business owners that have completed the HETP and LETS programs, the winner, Pamela Ortiz, Owner of Solo Para Ti, LLC., received a cash award of $2,000 towards the development and growth of her business, as well as features in the Hispanic Chamber’s media outlets.

"I am thrilled to celebrate Hispanic Heritage Month in partnership with Cross River,” said Pamela Ortiz, Owner of Solo Para Ti. “This collaboration represents a powerful commitment to our shared values of entrepreneurship, diversity, and innovation, and I look forward to the positive impact it will have on our community. Before the LETS and HETP program, I did not have the proper knowledge that I needed as entrepreneur to help scale and grow my business to the fullest. Now after graduating from these programs, I feel confident and secure with all the tools that the chamber has provided me with."

Additionally, Cross River teamed up with Prospanica’s New Jersey Chapter to provide interview tips to Hispanic professionals in a virtual webinar session with the Company’s Talent Acquisition team. The collaboration reflects the Group’s shared commitment to fostering diversity, inclusion and professional development within the financial industry. The organizations plan to enhance their partnership to further support the financial empowerment of the Hispanic community.

"We are excited to partner with Cross River and continue to live the mission of Prospanica, which is to empower and enable Hispanic professionals to achieve their full educational, economic and social potential," said Dr. Jairo Borja, President of Prospanica and VP, Corporate & Entrepreneurial Programs for Statewide Hispanic Chamber of Commerce of New Jersey. “We look forward to partnering with Cross River on professional development and educational programming to assist our members in the Hispanic community."

The fastest growing demographic prior to the pandemic, Hispanic business owners employ about 3 million workers, with more than $100 billion in annual payroll. New Jersey ranks in the top ten states with the largest Hispanic/Latino population and the Garden State is home to over 120,000 Hispanic-owned businesses that contribute over $20 billion to the State’s economy.Despite these extensive economic contributions, Hispanic entrepreneurs and small business owners often face obstacles when attempting to secure capital due to structural inequalities. Cross River is committed to expanding responsible and equitable access to credit and financial services, and partners with leaders in fintech innovation, community organizations and minority-focused associations to further this mission.