Capital One Announces $1 Million Investment for The Bronx

Today Capital One announced a $1 million investment in The Bronx, reinforcing its longstanding commitment to the people and businesses of New York City and its boroughs. This investment signals the start of a series of investments that Capital One will be making in low- and moderate-income communities across New York and nationwide as part of its $265 billion, five-year Community Benefits Plan (CBP), tied to the company’s recently approved acquisition of Discover Financial Services. The funds announced today will provide direct support to startup incubators, bolster the local business improvement district, expand small business loan programs and offer technical assistance and financial counseling to entrepreneurs and residents. 

“As Capital One prepares to unlock the historic $265 billion Community Benefits Plan related to our acquisition of Discover Financial, we are taking a meaningful step to partner with 4 innovative organizations who are investing in the Bronx’s small business ecosystem,” said Kerone Vatel, Senior Vice President, Community Finance, Impact & Investment at Capital One. 

This new investment will be highlighted tomorrow at the grand opening celebration of the Capital One Café at Fordham Road in The Bronx, which serves as a reimagined banking experience providing expanded financial access to members of the community. The Café—the fifth in New York City and part of Capital One’s growing network of 60 nationwide—is designed to provide financial literacy resources, programming and a welcoming environment for all, whether they are Capital One customers or not.

The $1 million investment will support new and existing partnerships in The Bronx, contributing to the neighborhood’s financial wellness and community development, through grants for the four following organizations:

• Ariva: Capital One is deepening its partnership with the financial well-being organization to invest $200,000 in its Small Business Program, Free Tax Prep and Individual Financial Counseling and Coaching programs.

• Bronx Economic Development Corporation (BXEDC): In collaboration with The Bronx Borough President, Capital One is investing $400,000 to support BXEDC in growing the Small Business Loan Program.

• Fordham Road Business Improvement District (BID): Through a newly established partnership, Capital One will fund $200,000 in general operating support for the BID to provide resource navigation and capacity-building services to the local small business corridor.

• Lehman College: Capital One is advancing its partnership with the college to provide $200,000 for the Bronx Business Tech Incubator to support small businesses, entrepreneurs and freelancers.

“The Bronx is full of talent and ambition—and we are here to help fuel it through our new Capital One Café and continued community investment,” said Jennifer Windbeck, Senior Vice President of Retail Bank Channels & Operations at Capital One. “Capital One’s investment will empower small businesses, strengthen neighborhoods, and provide lasting economic opportunity.”

“As your representative in the New York State Assembly, one of my very top priorities has been working to drive greater business investment into the Bronx, to realize our borough’s enormous potential,” said New York Assembly Member George Alvarez. “It’s an honor to welcome ‘Capital One Café’ to Fordham Road! And, thank you to Capital One for believing in—and investing in—the Bronx!”

“I’m proud to welcome the Capital One Café to Fordham Road—a community in the West Bronx that has long been underbanked and saturated with predatory financial institutions. This investment represents the kind of responsible, community-centered development we need to uplift our neighborhoods. By expanding access to formal financial services in a welcoming space, we take a real step toward empowering our residents, strengthening our local economy, and building a safer, more vibrant Bronx. I’m especially encouraged that this new space complements our work through the West Bronx Community Safety Partnership—showing that economic opportunity, safety, and community go hand in hand,” said New York City Council Member Pierina Sanchez. 

"Capital One’s $1 million investment in The Bronx is a powerful affirmation of what we already know—our borough is full of potential, innovation, and resilient entrepreneurs. This funding will help uplift local businesses, support job creation, and expand access to critical financial resources. The new Capital One Café on Fordham Road is more than just a banking space; it’s a hub for opportunity and community empowerment. We’re proud to welcome this kind of partnership that puts Bronx residents and small businesses first,” said Bronx Borough President Vanessa L. Gibson. 

“Ariva, Inc is a Bronx-based financial capabilities provider whose mission is to expand financial access and inclusion in our communities. Capital One is a long-time, trusted partner in our work and we are thrilled to expand this relationship through the new initiative. The new Capital One Café is at a wonderful location on Fordham Road and we are very excited to provide onsite services there.  Working with Capital One and the other partners, we will be able to offer a comprehensive menu of high impact financial capabilities services to residents and small businesses in the Fordham area,” said Irene Baldwin, Executive Director, Ariva.

“This partnership with Capital One expands access to capital and support services for small businesses across The Bronx. By investing in both our loan fund and technical assistance efforts, we’re equipping local entrepreneurs, particularly in areas like Fordham and Kingsbridge, with the tools they need to grow their businesses and contribute to vibrant, thriving commercial corridors.” – Rob Walsh, President, Bronx Economic Development Corporation

“We are honored that Fordham Road was chosen as the site of the first Capital One Cafe in The Bronx. Capital One is already making a real impact by supporting local community organizations and investing directly in our neighborhoods—we look forward to continued collaboration that strengthens our business community.” – Wilma Alonso, President & CEO, Fordham Road Business Improvement District

"Lehman College's Bronx Business Tech Incubator anchors nearly 70 Bronx-based startups on Grand Concourse and Fordham Road—two floors above the new Capital One Café—by providing physical space, business advising, and access to Lehman talent," said Kimberly Kendall, MBA, Interim Dean of the School of Continuing and Professional Studies at Lehman College. "Capital One's support of the local small-business ecosystem will be a boon to Bronx entrepreneurs."

Capital One’s Community Benefits Plan is designed to enable greater access to safe and affordable housing, expand access to credit so small business owners can sustain and grow their businesses, increase credit for low- and moderate-income (LMI) consumers, build high-quality local infrastructure to facilitate the delivery of essential services and support the development of schools, civic centers and healthcare facilities that are vital to building strong and vibrant communities.

Building on Capital One’s broader philanthropic commitments, this new $1 million investment in The Bronx will layer onto Capital One’s ongoing efforts to improve financial well-being across New York City. Since 2020, Capital One has provided philanthropic support to The Bronx focused on workforce development, education and supporting women entrepreneurs—and our partnerships with Bronx-based organizations such as LIFT-NY, Women’s Housing and Economic Development Corporation and Fordham-Bedford Housing have helped thousands of individuals and small businesses thrive. 

Through impactful partnerships and products, Capital One continues to build on its commitment to New York—and we’re proud to have provided more than $2.1 billion in community development financing from 2020-2023 in New York City, spent $184 million with small and local suppliers, provided $2 billion in auto financing to low- and moderate-income New York families and supported the development of over 35,000 affordable housing units from 2018-2023 across the state. 

For more information, please visit capitalone.com/about/new-york/.