Emigrant Bank Distributes $50,000 to New York Small Businesses

The funding program supports entities facing headwinds from rising interest rates and increased supply chain costs. This year’s recipients reflect the diversity of the local economy, ranging from a Bronx daycare on Castle Hill Avenue and a Brooklyn beverage distributor to a technology firm in Farmingdale, a Copiague hair salon, and a medical practice in Elmhurst.

Peter Hollnsteiner, president of Emigrant Funding Corporation, emphasized the role these organizations play as the lifeblood of their communities. Through the Small Business Recovery Grant Program, the bank has secured and distributed the maximum allocation of $50,000 annually for the past four years. This effort aligns with the institution’s broader history of philanthropy, which includes direct support for customers affected by Hurricane Katrina, Superstorm Sandy, and the 2023 Maui wildfires.