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SBRG Success Stories

Magyar Bank was approved by FHLBNY to distribute $100K to organizations that were impacted by the COVID-19 pandemic.

Magyar Bank has been provided funds by the Federal Home Loan Bank of New York Small Business Recovery Grant Program to be distributed to local small businesses and non-profit organizations. The Bank has been approved to distribute $100,000 to organizations who have been negatively impacted by the COVID-19 pandemic in the form of individual grants. One of our recipients is Elijah’s Promise a New Brunswick based soup kitchen that serves over 170,000 meals annually, and has seen the need for their services increase significantly since the start of the pandemic. Thank you Elijah’s Promise for all you do for our community, and thank you to New Brunswick Mayor Jim Cahill for joining us for the presentation. Read full story.
Elijah's Promise

One of the recipients is Elijah’s Promise a New Brunswick based soup kitchen that serves over 170,000 meals annually.

The SBRG Program is intended 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.

SBRG Success Stories

Member: Valley National Bank
Project Name: SBRG
Member: The Disability Opportunity Fund, Inc.
Project Name: Small Business Recovery Grant (SBRG) Program