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Emigrant Bank's 2026 Small Business Grants: Supporting New York's Local Heroes

On August 4, 2026, Emigrant Bank made a significant announcement regarding the recipients of its highly anticipated 2026 Small Business Grants. This initiative continues the bank's commitment to provide crucial resources to small businesses and non-profit organizations within the New York metropolitan area. For the fourth consecutive year, Emigrant Bank teamed up with the Federal Home Loan Bank of New York (FHLBNY) to more effectively distribute these grants.

The Small Business Recovery Grant Program (SBRG), a collaborative effort with the FHLBNY, supports eligible small businesses and non-profits focused on serving low to moderate-income areas. Each grant recipient is awarded $10,000, recognizing their tireless efforts to support their communities amidst the ongoing economic challenges.

The list of 2026 grant winners showcases the diversity and resilience of local businesses. Among the recipients are:

• - A daycare center located on Castle Hill Avenue in the Westchester Square neighborhood, Bronx.
• - A beverage distribution company that operates on Utica Avenue in the Weeksville neighborhood of Brooklyn.
• - A technology solution business based in Farmingdale, Suffolk County.
• - A hair salon situated in Copiague, Suffolk County.
• - A medical practice located in Elmhurst, Queens.

These chosen businesses vary in industry but share a common goal: to enrich their local communities while overcoming current economic hardships, such as rising operational costs and interest rates.

Peter Hollnsteiner, President of Emigrant Funding Corporation, expressed his deep commitment to these businesses: "We understand that small businesses and non-profit organizations are the backbone of our communities. We are thrilled to partner once again with FHLBNY to empower these businesses to build a brighter future for our neighborhoods."

As a significant player in the realm of small-balance commercial lending, Emigrant Funding Corporation specializes in giving financial aid to small businesses in both New York City and Florida. For four consecutive years, it has secured the maximum grant allocation from FHLBNY, totaling $50,000. EFC's role in channeling funds toward underserved areas highlights its dedication to supporting economic growth.

Founded in 1850, Emigrant Bank is the largest family-owned private bank in the U.S. Originally established by the Irish Emigrant Society, its mission has been to satisfy the financial needs of immigrants. This commitment continues today as Emigrant Bank serves newer generations eager to make their mark in the United States.

The Milstein family, owners of Emigrant Bank, has a longstanding tradition of philanthropy. Their notable contributions include a $1 million donation to customers impacted by Hurricane Katrina in 2005, and $2.3 million directed to first responders following Superstorm Sandy in 2012. More recently, they deposited $2,000 into the accounts of Emigrant customers who suffered damages caused by the destructive fires in Maui in August 2023. Additionally, the bank is involved in numerous charitable ventures, including providing scholarships and promoting financial literacy programs across its service areas.

In conclusion, the 2026 Small Business Grants by Emigrant Bank not only provide essential financial support for local businesses but also reinforce the bank's unwavering commitment to community empowerment and resilience. These grants represent more than just monetary assistance; they embody hope and the drive for progress in the face of adversity.