Provident Bank, a New Jersey-based financial institution, recently awarded $50,000 in grants to six non-profit organizations as part of the Federal Home Loan Bank of New York (FHLBNY) Small Business Recovery Grant (SBRG) Program.
The SBRG Program provides funds to benefit the small businesses of FHLBNY members, including farms and non-profit organizations. Through the SBRG Program, members can provide grants of up to $10,000 to qualifying small businesses that have faced economic challenges due to the rate environment, inflation, supply-chain constraints and/or rising energy costs.
“Our partnership with the Federal Home Loan Bank of New York continues to create opportunities to make a meaningful difference in the communities we serve,” Leonardo Ramos, first vice president, CRA officer at Provident Bank, said. “These recovery grants provide valuable resources that help local nonprofit organizations expand their impact, strengthen their operations and continue delivering critical services to individuals and families.”
The following non-profit organizations received grants through the FHLBNY SBRG Program:
- Bloom Empower: $5,000
- LISC NJ: $10,000
- Mercer County Community College Foundation: $5,000
- New Life Community Development Corporation: $10,000
- Rising Tide Capital: $10,000
- SAFE in Hunterdon: $10,000
