Provident Bank Awards $50,000 in Recovery Grants to Local Nonprofits
Provident Bank announced Tuesday it has awarded $50,000 in grants to five prominent nonprofit organizations across the region. The funding is part of a strategic partnership with the Federal Home Loan Bank of New York (FHLBNY) through its Small Business Recovery Grant (SBRG) Program.
The grants are designed to act as a financial “lifeline” for organizations navigating a volatile economic climate marked by inflation, supply-chain disruptions, and rising energy costs. Each of the five recipients received a $10,000 grant to support their mission-critical operations.
Leonardo Ramos, first vice president and CRA officer at Provident Bank, emphasized that the funding is aimed at the “frontline” organizations that provide essential services to New Jersey’s most vulnerable populations.
“These additional grants help strengthen local non-profits and ensure they can continue delivering essential programs and services to those who need them most,” Ramos said.