New Jersey Community Capital announced on Thursday that Valley Bank has invested $2 million in support of the Garden State Relief Fund.
The fund, which was launched by NJCC in March, provides working capital loans to small businesses and nonprofits in New Jersey that have been negatively affected by the COVID-19 pandemic, such as having difficulty accessing support from the federal Payment Protection Program.
“We’re proud to take a lead role and be the first bank to support NJCC’s Garden State Relief Fund which is dedicated to providing accessible capital and tools to the businesses and organizations in need of immediate relief,” Ira Robbins, CEO and president, said. As a long-standing corporate citizen, we feel that it’s our responsibility to stimulate local economic growth and advance equitable opportunities throughout the many communities we serve. This program does just that by providing the immediate and critical relief that local business owners need right now.”