Unity Bank Awards $50,000 in Grants to Local Businesses Through FHLB Small Business Recovery Grant Program
Rhea-AI Summary
Unity Bank has awarded $50,000 in grants to five local businesses through the Federal Home Loan Bank of New York (FHLB) Small Business Recovery Grant (SBRG) Program. Each business received a $10,000 grant to help overcome challenges such as inflation, supply chain constraints, rising energy costs, and a volatile rate environment.
The grant recipients include:
- Isaac Simon Realty – Child Care Services, Brooklyn, NY
- Sontort Realty Holding – Full Service Restaurant, Flemington, NJ
- Lebanon Hotel – Full Service Restaurant, Lebanon, NJ
- Ionian Sky Inc. – Full Service Restaurant, Edison, NJ
- Statewide Environmental – Environmental Consulting Services, Bridgewater, NJ
Unity Bank's President & CEO, James A. Hughes, emphasized the importance of supporting small businesses as they are vital to the local economy. The bank's partnership with FHLB demonstrates its commitment to empowering small businesses and fostering community growth.
Positive
- Unity Bank awarded $50,000 in grants to support local businesses
- Partnership with FHLB demonstrates commitment to community growth
- Grants address current economic challenges faced by small businesses
Negative
- None.
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Supporting Local Businesses Through Economic Challenges
CLINTON, N.J., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Unity Bank is proud to announce that five local businesses have each been awarded
These grants aim to help businesses overcome challenges posed by inflation, supply chain constraints, rising energy costs, and a volatile rate environment. As a committed member of FHLB, Unity Bank continues to champion local businesses, providing vital support as they navigate today’s economic challenges.
By leveraging their SBRG Program, Unity Bank granted
Isaac Simon Realty LLC – Child Care Services, Brooklyn, NY
Sontort Realty Holding LLC – Full Service Restaurant, Flemington, NJ
Lebanon Hotel – Full Service Restaurant, Lebanon, NJ
Ionian Sky Inc. – Full Service Restaurant, Edison, NJ
Statewide Environmental – Environmental Consulting Services, Bridgewater, NJ
James A. Hughes, President & CEO of Unity Bank, said, “Small businesses are the lifeblood of our local economy, and these grants will provide critical relief to ensure they can continue to serve our communities. By utilizing the FHLB’s Small Business Recovery Grant Program, we’re able to deliver meaningful support where it’s needed most.”
Unity Bank’s partnership with FHLB highlights its ongoing commitment to empowering small businesses and fostering community growth. The SBRG Program has been instrumental in addressing the financial pressures many small enterprises face due to the current economic climate.
Learn more about the SBRG program at this website: https://www.fhlbny.com/community/sbrg/program-overview/
About Unity Bancorp, Inc.
Unity Bancorp, Inc. (NASDAQ: UNTY) is the parent company of Unity Bank, a financial services organization based in Clinton, New Jersey. Unity Bank operates 21 branches across New Jersey and the Lehigh Valley, Pennsylvania, offering community-focused commercial banking services, including deposit accounts, loans, and digital services. For details, visit unitybank.com or call 800-618-BANK (800-618-2265). Unity Bank is a member of the Federal Deposit Insurance Corporation (FDIC). To learn about FDIC insurance, visit FDIC.gov.
Contact:
Crystal Rose
Marketing Director
(908) 713-4310
Crystal.Rose@unitybank.com
