NEW YORK, Aug. 4, 2026 /PRNewswire/ — Emigrant Bank is pleased to announce the recipients of its 2026 Small Business Grants, continuing its dedication in providing essential funding to local small businesses and nonprofit organizations in the New York metro area. This marks the fourth consecutive year that Emigrant Bank has partnered with the Federal Home Loan Bank of New York (FHLBNY) to provide these grants.
Through the FHLBNY Small Business Recovery Grant Program (SBRG), each grant provides financing to eligible nonprofit organizations and/or small businesses that serve low to moderate income areas.
Each one of the five recipients of the grant is awarded $10,000 in recognition of their devotion to serving their community while navigating current economic challenges. This year’s grant recipients include: a daycare on Castle Hill Avenue in the Westchester Square neighborhood of the Bronx; a beverage distributor on Utica Avenue in the Weeksville neighborhood in Brooklyn; a technology solution company in Farmingdale, Suffolk County, NY; a hair salon in Copiague, Suffolk County, NY, and a medical practice in Elmhurst, Queens.
The FHLBNY’s SBRG program grants are designed to mitigate financial distress experienced by these small businesses, including increased operations and supply chain costs and rising interest rates.
“We know very well that small businesses and nonprofit organizations are the lifeblood of our communities,” said Peter Hollnsteiner, President of Emigrant Funding Corporation. “We are pleased to once again partner with the Federal Home Loan Bank of New York to do our part in supporting these small businesses to invest in the future of their communities.”
As a subsidiary of Emigrant Bank, Emigrant Funding Corporation (EFC) specializes in small-balance commercial lending, where it operates in New York City and in Florida. Having secured the FHLBNY maximum grant allocation of $50,000 for the last four years, EFC continues to play an important role in directing financial resources to small businesses and nonprofit organizations in underprivileged areas.
About Emigrant Bank
Emigrant Bank is the largest family-owned and operated private bank in the nation. Emigrant was founded in 1850 by members of the Irish Emigrant Society to support the financial needs of a growing immigrant community. Emigrant continues that tradition today, serving new generations who come to the United States to seek a better way of life for themselves and their families. Through its residential lending division, Emigrant Mortgage, and its commercial lending subsidiary, Emigrant Funding Corporation, Emigrant provides lending in many communities that have been traditionally underserved by larger institutions.
Emigrant Bank and its owner, the Milstein family, have a long history of giving back to their local communities. In 2005, Emigrant Bank made a total of $1 million in donations directly to its customers in areas impacted by Hurricane Katrina, and in 2012, donated $2.3 million to first responders who were impacted by Superstorm Sandy. The bank deposited $2,000 in the bank accounts of each Emigrant customer who suffered damage as a result of the devastating fires in Maui in August 2023. Emigrant funds a host of other local charitable initiatives, from merit scholarships for local students to financial literacy programs in the local communities that it serves.
MEDIA CONTACT:
Lucy O’Brien
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SOURCE Emigrant Bank
