Arrow Bank awards $50K in Small Business Recovery Grants

GLENS FALLS | Arrow Bank National Association has distributed $50,000 through the Federal Home Loan Bank of New York's (FHLBNY) Small Business Recovery Grant (SBRG) Program. Arrow Bank used the funds to help 11 qualifying small businesses and nonprofit organizations navigate ongoing economic challenges. The SBRG Program provides critical support to small businesses and nonprofits that have been affected by pressures related to the current rate environment, inflation, supply-chain disruptions and rising energy costs. Member institutions like Arrow Bank may apply for up to $50,000 and pass the funds awarded directly to eligible recipients. "We are proud to partner with the Federal Home Loan Bank of New York to deliver meaningful, direct support to local organizations that form the backbone of our communities," said Ian Williams, SVP, Senior Vice President, Director of Retail and Business Banking. "These funds help small businesses and nonprofits strengthen their operations during a challenging economic cycle, and we're grateful for the opportunity to support the important work they do every day." Arrow Bank awarded the following grants to businesses and non-profits throughout its footprint: -The Adirondack Folk School, $5,000 -Adirondack Theatre Festival, $5,000 -The Center of the Kingsbury & Fort Edward Area, Inc., $2,500 -Elmore SPCA, $5,000 -Fort Salem Theater, $2,500 -Greater Glens Falls Senior Citizens Center, Inc., $5,000 -North Country Ministry, $5,000 -Plattsburgh YMCA, $5,000 -Troy Savings Bank Music Hall, $5,000 -WAIT House, $5,000 -Wiawaka Center for Women, $5,000 Each grant recipient met eligibility requirements established by the SBRG Program and demonstrated a need associated with economic hardship. Eligible uses for the funding include working capital, equipment, expansion, construction and other activities that support sustainability and growth. "Small businesses and nonprofits are critical to the health and economic strength of their communities, and through our Small Business Recovery Grant Program, the FHLBNY is able to partner with members like Arrow Bank to make a direct and positive impact for these vital local institutions," said John Wissing, Vice President, Relationship Manager at the FHLBNY.

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Arrow Bank awards $50K in Small Business Recovery Grants

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