OceanFirst Bank N.A., a subsidiary of OceanFirst Financial Corp., successfully helped ten local nonprofit organizations secure $50,000 in Small Business Recovery Grants. These grants were obtained through a program created by the Federal Home Loan Bank of New York (FHLBNY). Each of the ten organizations received $5,000 to support their operations.
The grants are specifically designed to assist eligible organizations facing economic challenges due to factors such as the rate environment, inflation, supply-chain constraints, or rising energy costs. The funds are directed towards nonprofits committed to addressing hunger and food insecurity within the bank's market area.
George Destafney, OceanFirst Bank Chief Community Banking Officer, stated that the Small Business Recovery Grant Program provides a valuable opportunity for OceanFirst Bank to support its local nonprofit partners. This initiative underscores the bank's commitment to aiding communities and addressing critical social needs.
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