NVE Bank has awarded $100,000 in grants to locally owned full-service restaurants within Bergen County that have been impacted by COVID-19. The Bank also made a $10,000 donation to the Office of Concern Food Pantry at St. Cecilia’s in Englewood. Earlier this summer, NVE awarded $100,000 in grants to Bergen County non-profit organizations.
NVE Bank secured grant funds in conjunction with the FHLBNY SBRG program. The grants are intended to support organizations that have experienced a significant decrease in revenue because of the ongoing COVID-19 crisis.
These businesses and organizations are facing unanticipated extraordinary expenses and are least likely to have access to other sources of emergency funds. Grantees are required to utilize the money for specific purposes, such as but not limited to COVID-19 compliance efforts, purchasing and installing safety equipment, reconfiguring spaces, re-hiring employees, and working capital needs.
“As a community mutual bank, we do not issue stock or exist to maximize investor returns for Wall Street, which allows us to focus on making sure the people and organizations in the nine towns we serve remain strong,” said NVE Bank President and CEO Robert Rey. “With many local small businesses hit hard by the pandemic, we felt it was important to help however we could. For many of these businesses and organizations, large portions of their revenue have been curtailed due to the pandemic. NVE is thankful to be able to help them get back on track by providing these grants.”
In addition to the grants, NVE Bank made a $10,000 donation to The Office of Concern Food Pantry at St. Cecilia in Englewood. NVE is a longtime supporter of the Pantry, which normally feeds about 600 families throughout Bergen County weekly, but since the pandemic emerged, that number has grown to close to 1,000 meals per week.
“Through the years we have been fortunate to partner with the Office of Concern and have witnessed first-hand the essential services they provide for our neighbors in need,” said Rey. “We are grateful to be in position to further assist their remarkable efforts to help others during this very difficult time.”
NVE will be highlighting each grantee in an ongoing series of social media features on Facebook, Twitter, Instagram and LinkedIn.
NVE Bank, established in 1887, offers an extensive range of personal and business products and services. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, call their toll-free number 1-866-NVEBANK (683-2265) or visit their website.
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