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  • Comment Detail

  • Date: 10/24/22
    First Name: Heinrich
    Last Name: Strauch
    Email: hstrauch@jeff.bank
    Organization Type: fhlbank
    Organization: Jeff Bank

  • Comment

    Jeff Bank participated in the FHLB NY's Small Business Recovery Grant program in 2020 and 2021. We found the experience of working with our FHLB colleagues efficient and effective, and we appreciated the opportunity to provide unbureaucratic relief to some of our customers who experienced severe business hardships through the pandemic and related restrictions.

    Information provided through FHLB was concise and clear and allowed Jeff Bank quickly to determine a) if the program was of potential interest to the bank and its customers; and b) how to access the offered funds. Within the eligibility and selection criteria, the program offered sufficient leverage and freedom for Jeff Bank to ensure that grant awards reached the most deserving recipients. FHLB communicated the awarded program funds quickly after application, and the provided forms were easy to use to report on the actual grant awards made, with actual in-person support available if needed.

    Overall, the FHLB's Small Business Recovery Grant program proved to be one of the better COVID-19 relief programs, combining centralized funding with localized distribution, and allowing Jeff Bank as a community bank with strong local presence to provide meaningful grant funds to Sullivan County businesses and non-profits in need.