WEST ORANGE, NJ — Glen Rock Savings Bank has distributed its third and final round of financial relief per the Federal Home Loan Bank of New York’s COVID-19 Small Business Recovery Grant program. GRSB’s latest allotment totaled $30,000, and was presented to two area nonprofit organizations and one local business. In total, Glen Rock Savings Bank has distributed $100,000 through the program.
The FHLBNY’s COVID-19 Small Business Recovery Grant program set aside approximately $2 million to benefit the employees of its tristate-area members’ small business and nonprofit customers. Its intention is to support the financial security and health of workers employed by organizations that have suffered a decrease in revenue as a result of the ongoing COVID-19 crisis. Eligible recipients received grants of up to $10,000 each.
“Throughout the pandemic, Glen Rock Savings Bank has been privileged to play a role in helping organizations financially impacted by a situation beyond their control,” GRSB President and CEO Ferdinand R. Viaud said. “We continue to be a proud member of the Federal Home Loan Bank of New York, and look forward to less difficult times ahead as the crisis winds down and wide-scale reopening commences.”
The two nonprofit organizations to receive grant monies are the West Orange Community House and Good Shepherd Mission in Paterson. The local business recipient is Willow & Olivia Cafe, a cafe and bakery in West Orange.