Mariner’s Bank Named Participating Lender in Federal Reserve Bank of Boston’s Main Street Lending Program

Edgewater, NJ – Mariner’s Bank (“Mariner’s”): Mariner’s Bank recently announced its participation in the Federal Reserve Bank of Boston’s Main Street Lending Program, making them one of the few banks in New Jersey preparing, processing, and submitting applications for both existing and new business partners.

As a lead provider of Paycheck Protection Program (PPP) loans in northern New Jersey, Mariner’s proudly vowed to continue supporting businesses that have been disrupted by the COVID-19 Pandemic through the Main Street Lending Program. “Considering the incredible demand for funding under the Paycheck Protection Program, it was evident that the businesses of our community had been hit hard by the pandemic, and those who may have been too large to secure forgivable PPP loans were still in need of help,” said Robert Baumann, President, and Chief Executive Officer. “Our teams are available to assist businesses impacted by COVID-19 to navigate the Program and determine if they meet the requirements. It is our commitment to continue standing strong as your community partner, giving you and your business the solutions needed to persevere and make it through” said Baumann.

$600 billion has been allocated under the Main Street Lending Program to help small to mid-sized for-profit businesses and non-profit organizations that were in sound financial condition before the COVID-19 crisis requiring financing to maintain operations until conditions normalize. By providing additional lending capacity, the Program aims to enable as many sound businesses as possible to retain the operational capacity to support a quick economic recovery. For additional information about the Main Street Lending Program, please visit https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm.

 

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.