Provident Bank Announces $50,000 in Grants to 11 Small Businesses and 4 Non-Profit Organizations
Rhea-AI Summary
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.
Positive
- 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
Negative
- None.
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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
