Provident Bank Announces $50,000 in Grants to 11 Small Businesses and 4 Non-Profit Organizations
Provident Bank has awarded $50,000 in grants to 11 small businesses and 4 non-profit organizations through the Federal Home Loan Bank of New York (FHLBNY) Small Business Recovery Grant (SBRG) Program. The grants, up to $10,000 each, are designed to support businesses facing economic challenges due to the rate environment, inflation, supply-chain constraints, and rising energy costs.
The recipients include restaurants, educational institutions, construction companies, and community development organizations across New York and New Jersey. This initiative demonstrates Provident Bank's commitment to fostering economic prosperity in local communities through its partnership with FHLBNY.
Provident Bank ha assegnato $50.000 in sovvenzioni a 11 piccole imprese e 4 organizzazioni non profit attraverso il Federal Home Loan Bank of New York (FHLBNY) Small Business Recovery Grant (SBRG) Program. Le sovvenzioni, fino a $10.000 ciascuna, sono progettate per supportare le imprese che affrontano sfide economiche a causa dell'ambiente dei tassi, dell'inflazione, delle restrizioni della catena di approvvigionamento e dell'aumento dei costi energetici.
I beneficiari includono ristoranti, istituti educativi, aziende di costruzione e organizzazioni di sviluppo comunitario in tutto New York e New Jersey. Questa iniziativa dimostra l'impegno di Provident Bank nel promuovere la prosperità economica nelle comunità locali attraverso la sua partnership con FHLBNY.
Provident Bank ha otorgado $50,000 en subvenciones a 11 pequeñas empresas y 4 organizaciones sin fines de lucro a través del Programa de Subvenciones para la Recuperación de Pequeñas Empresas (SBRG) del Federal Home Loan Bank de Nueva York (FHLBNY). Las subvenciones, de hasta $10,000 cada una, están diseñadas para apoyar a las empresas que enfrentan desafíos económicos debido al entorno de tasas, la inflación, las restricciones en la cadena de suministro y el aumento de los costos de energía.
Los beneficiarios incluyen restaurantes, instituciones educativas, empresas de construcción y organizaciones de desarrollo comunitario en Nueva York y Nueva Jersey. Esta iniciativa demuestra el compromiso de Provident Bank de fomentar la prosperidad económica en las comunidades locales a través de su asociación con FHLBNY.
프로비던트 뱅크는 뉴욕 연방 주택 대출 은행(FHLBNY) 소규모 기업 회복 보조금(SBRG) 프로그램을 통해 11개의 소상공인과 4개의 비영리 조직에 총 $50,000의 보조금을 지급했습니다. 각 보조금은 최대 $10,000이며, 금리 환경, 인플레이션, 공급망 제약, 에너지 비용 상승으로 어려움을 겪고 있는 기업들을 지원하기 위해 설계되었습니다.
수혜자는 뉴욕과 뉴저지 전역의 식당, 교육 기관, 건설 회사 및 지역 개발 조직을 포함합니다. 이 이니셔티브는 FHLBNY와의 파트너십을 통해 지역 사회의 경제적 번영을 촉진하고자 하는 프로비던트 뱅크의 의지를 보여줍니다.
Provident Bank a attribué 50 000 $ en subventions à 11 petites entreprises et 4 organisations à but non lucratif dans le cadre du Programme de subventions pour la récupération des petites entreprises (SBRG) du Federal Home Loan Bank de New York (FHLBNY). Ces subventions, d'un montant maximal de 10 000 $ chacune, sont destinées à soutenir les entreprises confrontées à des défis économiques en raison de l'environnement des taux, de l'inflation, des contraintes de la chaîne d'approvisionnement et de l'augmentation des coûts énergétiques.
Les bénéficiaires comprennent des restaurants, des établissements d'enseignement, des entreprises de construction et des organisations de développement communautaire à travers New York et le New Jersey. Cette initiative démontre l'engagement de Provident Bank à favoriser la prospérité économique des communautés locales grâce à son partenariat avec FHLBNY.
Provident Bank hat 50.000 $ an 11 kleine Unternehmen und 4 gemeinnützige Organisationen im Rahmen des Federal Home Loan Bank of New York (FHLBNY) Small Business Recovery Grant (SBRG) Programms vergeben. Die Zuschüsse von bis zu 10.000 $ sollen Unternehmen unterstützen, die aufgrund des Zinsumfelds, der Inflation, von Lieferkettenengpässen und steigenden Energiekosten wirtschaftlichen Herausforderungen gegenüberstehen.
Zu den Empfängern gehören Restaurants, Bildungseinrichtungen, Bauunternehmen und Organisationen zur lokalen Entwicklung in New York und New Jersey. Diese Initiative zeigt das Engagement von Provident Bank, den wirtschaftlichen Wohlstand in den lokalen Gemeinschaften durch die Partnerschaft mit FHLBNY zu fördern.
- Demonstrates community support and local market presence through $50,000 in grant distributions
- Strategic partnership with Federal Home Loan Bank of New York enhances institutional relationships
- None.
Insights
The
Funding is provided through the FHBNY’s Small Business Recovery Grant Program
ISELIN, N.J., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Provident Bank, a leading New Jersey-based financial institution, has announced the bank recently awarded a total of
“Provident Bank is proud to partner with the Federal Home Loan Bank of New York to support these worthy organizations through the Small Business Recovery Grant Program,” said Mary Brown, Senior Vice President, Chief Compliance Officer. “These grants are essential to the financial well-being of these establishments and their ability to serve their customers,” added Ms. Brown.
As a FHLBNY member bank, Provident Bank is committed to fostering the economic prosperity of small businesses and non-profit organizations in the local communities it serves.
The following small businesses and non-profit organizations received grants through the FHLBNY SBRG program:
- Los Amigos Mexican Restaurant, Queens, NY
- Dent Buster Inc., Lindenhurst, NY
- Educational Institute Oholei Torah of Brooklyn, Brooklyn, NY
- El Rey Mexican Restaurant, Astoria, NY
- FOCUS Hispanic Center for Community Development, Newark, NJ
- Housing Partnership NeighborWorks Homeownership Center, Dover, NJ
- Make Believe Bakeshop, Astoria, NY
- Alessandro's Italian, Manhasset, NY
- Prishtina Construction Design, Roselle Park, NJ
- Puerto Rican Association for Human Development (PRAHD), Perth Amboy, NJ
- Royal Sporting Group LLC., Queens, NY
- The Ha'Or Beacon School, Brooklyn, NY
- Trella Souvlaki Corp., Queens, NY
- Tutto Calcio Espresso Bar, Whitestone, NY
- Yonkers Partners In Education, Yonkers, NY and Jersey City, NJ
About Provident Bank
Founded in Jersey City in 1839, Provident Bank is the oldest community-focused financial institution based in New Jersey and is the wholly owned subsidiary of Provident Financial Services, Inc. (NYSE:PFS). With assets of
Media Contact:
Keith Buscio
Keith.Buscio@provident.bank
Vested
Providentbank@fullyvested.com
FAQ
How much did Provident Bank (PFS) distribute in small business grants in December 2024?
What is the maximum grant amount available through Provident Bank's SBRG Program?
Which types of businesses received grants from Provident Bank's SBRG Program?
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