Mariner’s Bank to distribute $100,000 in Small Business Recovery Grants from Federal Home Loan Bank of New York (FHLBNY)
Edgewater, NJ – Mariner’s Bank (“Mariner’s”): Mariner’s Bank recently announced its success in securing $100,000 in grant funds under the Federal Home Loan Bank of New York’s (FHLBNY) COVID-19 Small Business Recovery Grant (SBRG) Program. Under the program, Mariner’s has delivered grants up to $10,000, to twenty local organizations located throughout northern Bergen, Hudson, and Passaic Counties negatively impacted by the ongoing economic crisis caused by the COVID-19 pandemic.
“Our community faced sweeping shutdowns bringing life as we knew it to a screeching halt. The extent of the interruption has been devastating, irreversibly damaging, and unfortunately has made the survival of countless small businesses seem impossible” said Robert Baumann, President and Chief Executive Officer. “We feel it’s our responsibility, as a community bank and your trusted banking partner, to always deliver solutions to adversity, and I am very proud to say we were able to proudly do just that for 20 hard-hit businesses,” said Baumann.
The program authorizes member institutions to provide small business grant funds to businesses experiencing a 25% decrease in revenues, allowing them to pay essential bills and return to business under the state of New Jersey’s reopening guidelines.
For additional information about the SBRG Program, please visit: https://www.fhlbny.com/wp-content/uploads/2020/05/SBRG-Overview-2020.pdf.
About Mariner’s Bank
Headquartered in Edgewater, NJ, Mariner’s Bank has six, full-service Bergen County locations. Determined to provide The Best Alternative to Big City Banking, Mariner’s Bank offers a range of consumer and commercial banking products, services, and lending solutions. For more information, visit Mariner’s Bank online at marinersbank.com or by phone at (201) 224-9110.