Farmers & Merchants Bank of Long Beach : & Merchants Bank Announces New Round of Grant Funds for Small Businesses

Farmers & Merchants Bank Announces New Round of Grant Funds for Small Businesses

October 15, 2021

2020 F&M Bank Micro/Small Business Grant Program winners pictured from top left: Garrett James of Ironmen Basketball, Pauly Flores of Flores Learning Child Care, Brenda De Leon of De Leon Family Daycare, Gerardo Villa-Lobos of Centro Documental, Christine Okjin Roh of Bons Dry Cleaners, and Mario Lemus of B&M Printing Inc.

LONG BEACH, CA (October 15, 2021) - Farmers & Merchants Bank (F&M Bank) today announced grant applications for its 2021 Micro/Small Business Grant Program will open on October 15. In its second year, the grant program enables local micro or small businesses adversely impacted by COVID-19 to share $40,000 of funding provided by F&M Bank.

F&M Bank was founded in 1907 on the principles of honesty, integrity, the home, the church, and service above self. Each year F&M Bank gives away more than $1 million to charities, non-profit organizations, and religious entities within the communities they serve.

In response to the need for pandemic relief resources, F&M Bank is committing $40,000 to support local micro or small businesses adversely impacted by COVID-19 who have been forced to make adjustments to stabilize the business while continuing to support the local community. Eligible businesses may apply for a grant up to $5,000 and winners must agree to participate in a follow-up consultation with F&M Bank approximately six months after receiving the grant funds.

"F&M Bank is excited to once again offer this program to invest and grow small businesses in our community," said Henry Walker, F&M Bank President. "We encourage all micro and small businesses serving low to moderate income communities to apply for the grant program."

The 2021 Micro/Small Business Grant Program application details can be found on the F&M Bank website here. The main grant criteria include:

• For-profit micro/small business
• In business at least two (2 )years (i.e. in operation as of October 1, 2019)
• Adversely impacted by COVID-19
• Privately held corporation, a sole proprietorship, a partnership, or independently owned
  • 501(c)3 non-profit organizations not eligible
• Owners and/or franchises owned by the same owner are eligible for only one award
• Gambling, gaming, cannabis dispensaries, drug paraphernalia, gun dealers, adult entertainment, money services, virtual currency, private ATM owner businesses, crowdfunding campaigns, political action committees, and pawn shops are ineligible.
• Preference will be given to businesses serving low to moderate income communities and/or those owned by a member of an underrepresented community (i.e. woman-owned, minority-owned, or LGBTIQ-owned)
• NO PURCHASE OR ACCOUNT OPENING AT F&M BANK IS NECESSARY TO APPLY. Being an F&M Bank Client or using any F&M or its affiliated entities' products will not improve a business's chance of being awarded a grant.
• F&M Bank reserves the right to change or update the criteria for participation or disbursement of grant funds at any time.

"The objective is to provide access to funding support for small businesses who serve the low to moderate income communities in our footprint," said Cheryl Ryman, F&M Bank Vice President and Community Reinvestment Act Officer. "Many micro and small businesses were adversely impacted by COVID-19 and were forced to make adjustments to stabilize the business while continuing to support the local community."

The deadline to submit an application is October 30 and the grants are expected to be awarded in November.

Last year's Micro/Small Business Grant Program winners included Garrett James of Ironmen Basketball for $2,500; Gerardo Villa-Lobos of Centro Documental for $3,500; Pauly Flores of Flores Learning Child Care for $5,000; Christine Okjin Roh of Bons Dry Cleaners for $2,500; Mario Lemus of B&M Printing Inc. for $1,500; Brenda De Leon of De Leon Family Daycare for $5,000.

For more information, please visit www.fmb.com/grants.

About Farmers & Merchants Bank

Founded in Long Beach in 1907 by C.J. Walker, Farmers & Merchants Bank provides white-glove service to clients at 25 branches from San Clemente to Santa Barbara, as well as through robust Online and Mobile Banking platforms. The Bank offers commercial and small business banking, business loan programs, home loans, and a robust offering of consumer retail banking products, including checking, savings and youth accounts. Farmers & Merchants Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. For more information about F&M, please visit the website, www.fmb.com.