- December 23, 2023
- Posted by: legaleseblogger
- Category: Related News
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Local Small Businesses and Nonprofit Organizations Awarded $5,000 Grant by Solvay Bank and FHLBNY
Syracuse, NY – Solvay Bank, in collaboration with the Federal Home Loan Bank of New York (FHLBNY), has announced the recipients of the 2023 Small Business Recovery Grant (SBRG) program. The initiative has awarded 10 local small businesses and nonprofit organizations a $5,000 grant to help them overcome economic challenges.
Home HeadQuarters, Inc. and St. Camillus are among the grant recipients who have agreed to be named publicly. Erica Muscatello, vice president and business strategy & marketing manager at Solvay Bank, confirmed this in response to a CNYBJ inquiry.
The grant is intended to provide support to small businesses and nonprofit organizations that have been struggling due to economic pressures such as the rate environment, inflation, supply-chain constraints, and rising energy costs. Recipients are free to use the funds for “reasonable and necessary” expenses as they see fit.
Solvay Bank presented Home HeadQuarters, Inc. with a $5,000 grant check. It represented one of 10 such grant awards to small businesses and nonprofits in the Syracuse area under the 2023 Small Business Recovery Grant (SBRG) program. Solvay Bank conducted the program in partnership with the Federal Home Loan Bank of New York. (Photo credit: Solvay Bank)
In an effort to uplift the local business community, Solvay Bank distributed the grants to the 10 chosen recipients in December.
Michele Fernandez, VP enterprise risk manager & CRA officer at Solvay Bank, expressed the institution’s dedication to supporting the local economy, saying, “As a community bank, we believe in the power of small businesses and non-profit organizations to drive economic growth and positively impact our local neighborhoods. It is our mission to invest back, ensuring a brighter future for all. We thank the small businesses and local organizations for their commitment to our community.”
 
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About the institutions
Established in 1917, Solvay Bank is recognized as the oldest community bank in Onondaga County, with branch locations in Solvay, Baldwinsville, Camillus, Cicero, DeWitt, Liverpool, North Syracuse, Westvale, and downtown Syracuse in the State Tower Building.
The Federal Home Loan Bank of New York works in partnership with community lenders to promote housing and community growth in New York, New Jersey, Puerto Rico, and the U.S. Virgin Islands.
Part of the congressionally chartered Federal Home Loan Bank System, FHLBNY aims to increase the availability of mortgages and home finance to families of all income levels, supporting members in effectively serving their neighborhoods and fulfilling their Community Reinvestment Act responsibilities.
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