Provident Bank announces additional $50,000 in grants to five nonprofits

Iselin-based Provident Bank has announced that it recently awarded an additional $50,000 in grants to five 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 because of the rate environment, inflation, supply-chain constraints, and/or rising energy costs. 

“Our continued partnership with the Federal Home Loan Bank of New York allows us to extend meaningful support to organizations that are doing critical work in our communities,” said Leonardo Ramos, first vice president, CRA (Community Reinvestment Act) officer, Provident Bank. “These additional grants help strengthen local nonprofits and ensure they can continue delivering essential programs and services to those who need them most.”

As a dedicated member of the FHLBNY, Provident Bank continues to invest in the economic vitality of local neighborhoods by ensuring small businesses and non-profits have the resources necessary to continue thriving.

Each of the following non-profit organizations received a $10,000 grant through the FHLBNY SBRG Program: Community Food Bank of New Jersey; East Trenton Collaborative; Mercer Street Friends; Oasis; and Rescue Mission of Trenton.

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.