NVE Bank has continued its philanthropic fight against the pandemic, awarding $100,000 in grants to Bergen County restaurants affected by COVID-19 and making a donation to a food pantry in Englewood, where the bank is based.
The community bank, which has 11 offices throughout the county, had made $100,000 in grants to 10 county nonprofits earlier in the summer.
The latest grants will support restaurants that experienced a significant decrease in revenue due to the COVID-19 crisis, the bank said.
“With many local small businesses hit hard by the pandemic, we felt it was important to help however we could,” CEO and President Robert Rey said in a prepared statement. “For many of these businesses and organizations, large portions of their revenue have been curtailed due to the pandemic. NVE is thankful to be able to help them get back on track.”
In addition to the restaurants, the Office of Concern Food Pantry at St. Cecilia Church received a $10,000 donation. The food pantry has seen usage grow from 600 families weekly to closer to 1,000.
“Through the years, we have been fortunate to partner with the Office of Concern, and have witnessed firsthand the essential services they provide for our neighbors in need,” Rey said. “We are grateful to be in position to further assist their remarkable efforts to help others during this very difficult time.”
Grant funds were secured in conjunction with the Federal Home Loan Bank of New York’s Small Business Recovery Grant program, NVE noted. Grantees must use funds for specific, COVID-related purposes such as compliance efforts, safety equipment or rehiring employees.