When the pandemic hit, it looked as if time had run out for The Brownstone, a chandelier-lit clothing boutique that has been on East 125th Street for 22 years.
“Sales were gravely affected,” owner Princess Jenkins said. “I was making it by selling gift cards.”
She got nowhere asking Chase for a federal Paycheck Protection Program loan. Then she turned to the much smaller Carver Federal Savings Bank, which scheduled an appointment for the following day. The Brownstone survived.
Carver, one of the largest Black-operated banks in the United States, is the last of its kind in New York City. Its mission is serving small businesses and nonprofits
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