Emigrant Bank Provides 2025 Small Business Grants to New York-Area Businesses

NEW YORK, Nov. 5, 2025 /PRNewswire/ -- For the third consecutive year, Emigrant Bank is pleased to award small business grants to locally owned businesses and nonprofit organizations in the New York metropolitan area.

The grants, benefitting low- to moderate- income communities, are made possible through the Federal Home Loan Bank of New York's (FHLBNY) Small Business Recovery Grant Program (SBRG).

This year's grant recipients include: a convenience store in New Lots, Brooklyn; a pizzeria in Bensonhurst, Brooklyn; a kitchen and bath distributor in Flushing, Queens; an office leasing business in Riverhead, Long Island; and a food pantry in Bedford-Stuyvesant, Brooklyn.

Each organization received a $10,000 grant to reward their dedication to their communities during times of financial distress. The grants are intended to help alleviate financial struggles caused by supply chain insecurity, higher interest rates, inflation, and rising energy costs.

Since 2017, the FHLBNY's SBRG program has been used to provide financial relief to small businesses facing economic challenges. The grants have been made annually following the 2020 global pandemic.

Emigrant Funding Corporation (EFC), a subsidiary of Emigrant Bank, is a specialized small-balance commercial lender operating in the New York City metropolitan area and in Florida. For the last three years, EFC has applied for and been awarded the maximum grant allocation of $50,000. With these grants, EFC continues its mission to support small businesses in underserved communities.

"Now more than ever, it's essential to support small businesses to protect their invaluable contributions to our communities," said Peter Hollnsteiner, President of Emigrant Funding Corporation. "With these grants, we aim to ensure that small businesses can survive in the New York City metropolitan area despite economic hardships."

"At a time when so many New Yorkers are struggling to keep food on the table, Emigrant Bank's generous support reminds us that compassion and community are the foundation of true progress. Your investment strengthens our ability to feed families, empower youth, and build a more just and resilient city. We are deeply grateful for your partnership in the fight against hunger," said Dr. Melony Samuels, Founder & CEO of The Campaign Against Hunger, one of the grant recipients.

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.

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SOURCE Emigrant Bank