Merchants bank says it has awarded recovery grants to eight V.I. businesses

Merchants Commercial Bank announced that based on its collaboration with the Federal Home Loan Bank of New York, it has awarded the Small Business Recovery Grant to eight V.I. businesses and nonprofits.

According to a released statement, the SBRG program is designed to offer crucial support to businesses facing economic challenges due to the rate environment, inflation, supply-chain constraints, rising energy costs, and those in the early stages of development.

“Recognizing the vital role that businesses play in the community’s prosperity, MCB is committed to continue providing opportunities to enterprises navigating financial hurdles or laying the foundation for growth. The receipt of the SBRG is a testament to MCB’s dedication to fostering resilience, innovation, and sustainability within our local business community,” according to the statement from Merchants Commercial Bank.

The eight grant recipients are V.I. Christian Ministries, Inc.; The Leader’s Branch, Inc.; Speedy Redemption Vegan Raw Food and Sandwich Deli; Seven Four, LLC; Island Green Building Association, Inc.; CRC Payroll Management, LLC; Buddha Sushi House, LLC and Alliance Point Charter, LLC. Each recipient received a grant ranging from $5,000 to $10,000 to support their business ventures.