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Meet A. Donahue Baker: The CEO Of Money Ave Who Is Bringing Banking To Communities In Need

Monday, 02 November 2020 02:05 PM

VIP-Media

NEW YORK, NY / ACCESSWIRE / October 27, 2020 / In a world where we're encouraged to stay home, one of the things rarely shifted online effectively is banking. Luckily, A. Donahue Baker, the CEO of Money Avenue, LLC the Fintech Bank, has thought about how to best support the transition.

VIP-Media, Monday, November 2, 2020, Press release picture

"We are a digital bank. We offer banking that is faster, cheaper, and better than traditional banks. You can get a quick personal loan up to $10k that can be made in as little as 3 hours. And we don't nickel and dime you with fees," Donahue explains.

Money Ave is one of the first banks to offer wealth-building services in a way that helps to create more entrepreneurs and real estate developers. They go above and beyond basic banking services, such as just offering a savings and checking account, or lending services for residential and commercial loans.

"We give you access to capital when others don't. We get each LLC you have at least $50k in credit. We joint venture and invest in businesses and real estate deals when other banks won't. We provide a path that greatly benefits our clients," Donahue outlines.

The shift to online banking has been pushed by a changing market. While many older customers prefer to go into a physical, brick and mortar branch to do their banking, more and more younger populations want to do their banking digitally. This has been heightened by the pandemic, as many no longer have the option to go in person to do their banking. The disruption of the market is not new, as we have been the same shift in many other industries.

"Every year more and more people shop online to the point it has disrupted retail stores. We see that trend and while it is a challenge to get some to bank digitally we see that as changing year after year," Donahue says.

More than a changing marketplace, Donahue really saw a space where he could use his talents to help those in need. After working as a CPA for over a decale, he realized having access to capital is one of the key tools to creating generational wealth. He felt the need to help make a difference for his community and others that are often overlooked when it comes to banking needs, an inequity that then perpetuates for generations.

"There are many underserved communities that need banking services. As COVID set in, many brick and mortar banks began closing branches. The national banks are closing branches that are needed in key communities. We want to offer people an alternative solution to their banking needs," Donahue says.

In order to start his own business, Donahue was realistic - he knew he needed more than experience and good intentions. Mindset was a key factor in making sure his business was a success, and beyond his own, Donahue seeks to change the mindset of those around him, and those his business affects.

"In order to build wealth, generational wealth you have to understand how to use debt safely and effectively. Our bank is built on that principle. Changing the mindset of everyday people, getting them to think about entrepreneurship and real estate. In the process, we are watching people go from thousandaires to millionaires with the help of our education and services," Donahue says.

Through Money Ave, Donahue has been able to bring financial freedom, which to him, means being in charge of your own destiny, to many who needed it. Success comes in different ways to people holding different goals, but for Donahue, he was able to achieve his own level of success: helping others achieve their goals.

"As an entrepreneur and professor I have to constantly analyze people and spot the obstacles that stand in their way to success," Donahue says.

In the next year, Money Ave is working toward offering banking services that create more businesses and real estate development in their communities. Along with Money Ave's partners, Donahue is excited to be investing $500 million in minority projects this year alone.

Want to learn more about Money Ave? Be sure to check out their website, and follow Donahue on Instagram to stay up to date with any future achievements.

CONTACT:
Paula Henderson
646-736-2071
[email protected]

About VIP Media Group:

VIP Media Group is a hybrid PR agency. Their diverse client base includes top-class entrepreneurs, public figures, influencers, and celebrities.

SOURCE: VIP Media Group

Topic:
Partnerships
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