Cross River and Upstart Kitchen Team Up to Give Entrepreneurs Life-Changing Grants to Build Culinary Businesses

November 03, 2022 at 16:59 PM EDT

Dedicated to making a difference in communities across the globe, the Company’s gift will provide resources and empowerment to Milwaukee entrepreneurs

Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, today announced a $50,000 grant to Milwaukee-based nonprofit, to UpStart Kitchen, an incubator for entrepreneurs who want to grow or start their food-oriented business.

“Cross River is collaborating with Upstart Kitchen because they share our vision of providing small businesses and entrepreneurs with the tools they need to thrive and drive positive change,” said Phil Goldfeder, SVP, Global Public Affairs at Cross River. “Upstart Kitchen is a mission-driven leader that creates life-changing opportunities, and this grant will enable them to further power the next generation of chefs and culinary leaders.”

Cross River’s grant solves a specific pain point and effectuates immediate change in the lives of UpStart Kitchen members as many have difficulty obtaining credit from traditional banks and lenders. UpStart Kitchen provides local food entrepreneurs access to an affordable, fully equipped commercial kitchen & business resources to grow their own business while also providing community meals. The entrepreneurs have access to shared kitchen space, resources, training, mentoring, and community to help launch their dream businesses and create generational wealth in Milwaukee.

"That the relationship between Cross River and UpStart Kitchen came together as it did is further evidence of God's grace at work on our world today," enthused Bishop Walter Harvey, President Emeritus of Prism EDC.

"We are very grateful for this new partnership that brings new resources and enhanced opportunity for the entrepreneurs affiliated with UpStart Kitchen," said Dr. Glenn Mathews, Prism EDC Executive Director.

The relationship between Cross River and UpStart Kitchen began during the height of the Covid-19 pandemic when Milwaukee-based Prism Economic Development Corporation, which developed and now operates UpStart Kitchen, approached Cross River for Paycheck Protection Program (PPP) loans to help the small business continue operating and supporting the community. Cross River became a leader in providing PPP loans to the smallest businesses across the country, having saved more than 1.4 million jobs through the Program. The company continues to provide lifelines to those in need through its technology and community efforts.

“Small businesses are instrumental to the success of our community and now, more than ever, they need our support,” stated State Senator LaTonya Johnson (D-6). “The collaboration between Cross River and Upstart Kitchen will empower these entrepreneurs and allow them to achieve their business dreams. This grant is a beautiful example that we are stronger together and our connections are not limited by state lines.”

“I’m grateful for the support Upstart Kitchen provides and thankful that this contribution from Cross River will allow them to continue helping entrepreneurs, like myself, build our food businesses and feed Milwaukee,” said Tomira White, Owner and CEO of Delicious Bites, an Upstart Kitchen member.

As a leading financial technological company reshaping global finance and financial inclusion, Cross River is deeply invested in supporting initiatives that help communities drive positive change for a better future. The company is focused on supporting diverse small businesses and empowering entrepreneurs who are serving their communities and creating jobs. Cross River’s giving arm, Foundation@ Cross River, seeks to foster programming and initiatives focused on health, education and community support. Foundation@ Cross River is a section 501(c)(3) organization funded by Cross River Bank that makes charitable grants and funds initiatives, programs and projects in both the U.S. and Israel that seek to provide nonprofit and community organizations with funds and services that they need to achieve their goals.

About Cross River

Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, lending and crypto solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.

About Prism Economic Development Corporation (“Prism”)

Prism is a 501C3 tax-exempt corporation that exists to provide the Sherman Park Community access to resources that result in sustained economic growth and human flourishing. www.prismedc.org