Issue link: https://nebusinessmedia.uberflip.com/i/1540412
wbjournal.com | October 20, 2025 | Worcester Business Journal 15 Clarity & Confidence Starts with a Bank that Cares Our C.A.R.E. process ensures that we understand your unique finanicial goals and tailor solutions to meet them. Every moment with our clients matters. At Fidelity Bank, we see every interaction as an opportunity to listen, care, and provide clarity — so you can spend less time worrying about your financial life and more time focusing on the things that matter most. Call or visit a caring LifeDesign Banker Today 800.581.5363 FidelityBankOnline.com WBJ Ensure your team has ALL ACCESS to WBJ. We offer discounted group subscriptions starting at 5 users. Reach out to us at circulation@wbjournal.com for a quote. BANKING & FINANCE F O C U S Femme opened in March 2023 as one of about 30 lesbian bars in the country, but finding financing for the concept was nearly impossible for Danielle Spring and her wife Julie Toupin-Spring. ey went to big and small banks and cred- it unions for business loans, but none of them panned out. Spring, who is Black, had decided along with Toupin- Spring to put the latter's name on their applications in an attempt to avoid any racial discrimination in the lending process. "We really figured putting a white female on everything would help us with everything, but it didn't," she said. "No one's gonna tell you to your face because you're a woman, or we're not doing this because you're Black. You just know that your business isn't any differ- ent than the last business that referred you here." ey found banks didn't like to give to restaurants unless the owners had a lot of money behind them, and while SBA does offer loans to restaura- teurs, there are a lot of hoops to jump through. Aer Spring and her wife struck out at every institution they approached, they ended up using their life savings to launch Femme. Bernadette Clark, owner of Sharp Designs hair salon in Fitch- burg, initially had no luck when applying for SBA loans at various banks. She was told either she didn't make enough money or her credit wasn't good enough. "My credit was outstand- ing," she said. "ey wouldn't touch me. ey just had their noses up. I'm not a white-col- lar person. I'm sorry." Additionally, she was a homeowner with a lot of equity and was even willing to put that on as collateral. In some ways, she felt it was because she is half Black and a single mother. Eventually, she found the North Cen- tral Massachusetts Development Corp., the economic arm of the North Central Massachusetts Chamber of Commerce in Fitchburg, which provides smaller SBA loans to higher-risk applicants. Before the COVID pandemic, Clark secured a $5,000 loan through NCMDC to allow her to purchase new equipment Continued on next page Bernadette Clark, owner of Sharp Designs hair salon