Unity Bank Grants $50,000 to Support Local Business Resilience
Unity Bank Empowers Local Businesses with Grants
Unity Bank is excited to share that five local enterprises have received $10,000 each through the Federal Home Loan Bank of New York (FHLB) Small Business Recovery Grant (SBRG) Program. This initiative is designed to assist businesses in overcoming obstacles due to inflation, supply chain issues, rising energy expenses, and a fluctuating financial environment.
Supporting Local Growth
Unity Bank’s commitment to community support shines through its recent grants. These funds play a crucial role in ensuring the sustainability of local businesses during challenging economic times. By leveraging the SBRG Program, Unity Bank aims to be a pillar of strength for these institutions that contribute significantly to the local economy.
List of Award Recipients
The following local businesses have been awarded grants to help bolster their operations:
Isaac Simon Realty LLC – Child Care Services
Sontort Realty Holding LLC – Full Service Restaurant
Lebanon Hotel – Full Service Restaurant
Ionian Sky Inc. – Full Service Restaurant
Statewide Environmental – Environmental Consulting Services
Words from Leadership
James A. Hughes, President & CEO of Unity Bank, expressed, “Small businesses are the lifeblood of our local economy, and these grants will provide critical relief to ensure they can continue to serve our communities. By utilizing the FHLB’s Small Business Recovery Grant Program, we’re able to deliver meaningful support where it’s needed most.”
Unity Bank's Collaboration with FHLB
This partnership emphasizes Unity Bank’s unwavering dedication to supporting small businesses. The collaboration with the FHLB showcases a proactive approach to tackling the financial challenges faced by many enterprises in the current market.
Understanding the Impact
The SBRG Program has been pivotal in assisting small businesses navigate today's economic hurdles, ensuring they have access to necessary resources for growth and resilience.
About Unity Bancorp, Inc.
Unity Bancorp, Inc. (NASDAQ: UNTY) serves as the parent company of Unity Bank, a service provider based in Clinton, New Jersey. With 21 branches across New Jersey and the Lehigh Valley, Pennsylvania, Unity Bank offers a wide range of community-focused financial services, including deposit accounts, loans, and digital banking solutions.
Get in Touch
For more information, visit unitybank.com or call 800-618-BANK (800-618-2265). Unity Bank proudly participates in the Federal Deposit Insurance Corporation (FDIC) insurance program. To learn more about FDIC insurance, please visit FDIC.gov.
Frequently Asked Questions
What is the purpose of the FHLB Small Business Recovery Grant Program?
The FHLB Small Business Recovery Grant Program is designed to assist businesses in overcoming financial challenges posed by economic fluctuations.
How much funding has Unity Bank provided?
Unity Bank has awarded a total of $50,000, with each of the five selected businesses receiving $10,000.
Who are the recipients of the grants?
The grant recipients include businesses from various sectors, such as child care and full-service restaurants.
What are the benefits for local businesses?
The grants aim to provide essential financial support, allowing businesses to address operational challenges and sustain their services.
How can I learn more about Unity Bank?
For more details, you can visit Unity Bank's official website or contact their marketing department.
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