Ponce Bank Awarded $50,000 Through FHLBNY Small Business Recovery Grant Program

Core Points - Ponce Bank has been awarded $50,000 through the FHLBNY Small Business Recovery Grant Program to support local small businesses and nonprofits [1][2] - The grant funds have been distributed to 12 small businesses, providing essential support to help them sustain operations amid economic challenges [1][3] - Ponce Bank emphasizes its commitment to economic inclusion and community development, focusing on underserved communities [2][3] Company Overview - Ponce Bank was founded in 1960 in the Bronx by Puerto Ricans, aiming to invest in their community during a time when many financial institutions were withdrawing [4] - The bank operates 13 branches in the New York Metro area, with total assets of $3.2 billion and over $500 million in capital [4][6] - Ponce Bank is recognized as one of the largest Latino-led Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs) in the nation [4][6] Grant Program Details - The FHLBNY Small Business Recovery Grant Program provides funds to assist small businesses and nonprofits within the FHLBNY district, which includes New York, New Jersey, Puerto Rico, and the U.S. Virgin Islands [2] - The grant funds are intended to help businesses manage expenses such as payroll, equipment, and working capital [3] Award Recipients - The following small businesses and nonprofits received funding through the FHLBNY Small Business Recovery Grant Program: RID Trucking LLC, JC Trucking LLC, Diaz Security Services LLC, JAS Grocery, 735 Supermarket Corp., Atlantic Bagels Foods, LLC, The Great Reset Restaurant Corp, Manitos Media Group, UA3 Inc., Churches United For Fair Housing, Inc., New York Women's Chamber of Commerce, Las Panteras Negras [5]