News & Views
GRB Receives Federal Funds to Increase Small Business Lending
As we work to help small business in Rochester grow even in these challenging economic times, it made sense for us to take advantage of federal funds available for just that purpose. GRB is one of 20 community banks nationwide to receive part of $253 million in capital through the Treasury Department's Small Business Lending Fund (SBLF).
Part of the Small Business Jobs Act, the SBLF was established to encourage community bank lending to small businesses. Read the Daily Record article here.
"We deal almost exclusively with small businesses around Rochester, so this program was made for us," says Gary Schwingel, CFO and senior vice president. The bank received $7 million through the program, which will help GRB continue to support private sector growth and job creation.