Boston bank Berkshire Banks is opening its take on coworking with Reevx Labs in the city’s Nubian Square neighborhood.
The space takes up 2,000 square feet and entrepreneurs and non-profit organizations can enjoy the workspace for free. Reevx Labs caters its services to communities that are underserved by banks, with a bank employee on-site to offer financial counseling, tablets to do online banking and more. The bank is also planning to issue microloans of up to $20,000 to entrepreneurs of color.
“Banks play roles in the economy and helping entrepreneurs start businesses is part of the economy, right?” said Malia Lazu, Berkshire Bank regional president. “So isn’t it great to have a room full of businesses that have business accounts? Totally. It just makes a lot of sense.”
Mattie Deed, a financial coach in the mayor’s office of workforce development, said that Reevx Labs has become her top choice for connecting with people in the area.
The space features phone booths for private calls, conference rooms for meetings and networking opportunities for people in the neighborhood.
“Reevx Labs is like that sort of answer of why are we building a branch when we can get done what we need to get done as far as a banking-community relationship, but centering the community first,” said Lazu.