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City National Bank of New Jersey
900 Broad StreetNewark NJ, 07102-2611
Established in 1973, City National Bank of New Jersey (CNB) is a certified CDFI that provides loan and depository products and services to economically distressed urban communities in New Jersey and New York.
CDFI Awards for City National Bank of New Jersey
BEA (2008) - $675,000
City National Bank of New Jersey has been selected to receive an award of $675,000 through the FY 2008 round of the Bank Enterprise Award Program for providing affordable home mortgage loans, small business loans, home improvement loans, and commercial real estate loans in distressed communities. City National Bank of New Jersey is a certified CDFI and a federally chartered bank with $450 million in assets.
BEA (2007) - $500,000
City National Bank of New Jersey has been selected to receive an award of $500,000 through the FY 2007 round of the Bank Enterprise Award Program for its support of Seedco Financial Services and Community Preservation Corporation. City National Bank of New Jersey is a certified CDFI and national bank with $395 million in assets.
BEA (2006) - $226,805
City National Bank of New Jersey has been selected to receive an award of $226,805 through the FY 2006 round of the Bank Enterprise Award Program for its support of the community through affordable home mortgages, small business loans, and commercial real estate loans to underserved areas of New Jersey. City National Bank of New Jersey is a certified CDFI with $367 million in assets.
BEA (2005) - $130,500
City National Bank of New Jersey of Newark, New Jersey received a Bank Enterprise Award grant of $130,500 for providing $770,000 in financial assistance to the following community development financial institution(s): Father Burke Federal Credit Union, Genesee Co-op Federal Credit Union, Homesteaders Federal Credit Union, Latino Community Credit Union, Lower Eastside People’s Federal Credit Union, Accion New York, Community Loan Fund of New Jersey, and Cooperative Business Assistance Corporation. The awardee is a National bank and a certified community development financial institution with total assets of $340 million.
TA (2004) - $59,305
City National Bank of New Jersey (CNB) will use the award to purchase computer hard and software and to install a wireless network.
BEA (2003) - $783,000
City National Bank of New Jersey received an award of $783,000 for providing $1,000,000 in financial support to ACCION New York, $1,000,000 in financial support to Community Loan Fund of New Jersey, $1,000,000 in financial support to Cooperative Business Assistance Corporation, $1,000,000 to The Community Preservation Corporation, and $500,000 to La Casa Federal Credit Union, certified Community Development Financial Institutions (CDFI).
BEA (2001) - $2,001,020
City National Bank of New Jersey of Newark, New Jersey received an award of $2,001,020 for making deposits in 35 certified CDFIs, and providing development and service activities to its distressed communities located in Newark, New Jersey.
BEA (2000) - $1,170,546
City National Bank of New Jersey in Newark, New Jersey, a certified Community Development Financial Institution (CDFI), received an award of $1,170,546 for increasing its consumer loans, multi-family loans, commercial real estate loans, and business loans within several distress communities throughout New York and New Jersey.
BEA (1996) - $162,065
City National Bank of New Jersey has not yet determined the use of its award. Currently, City National Bank of New Jersey is applying in the second round of the BEA Program for its increased loans for the purchase and renovation of one- to four-family homes.
Other Community Development Financial Institutions in New Jersey
Elizabeth Development Company
Elizabeth
Featured Government Grant Resources
Small Business Administration's Recovery Capital Loans
The Recovery Capital Loans Program provides financial assistance to small business with less than 500 employees to obtain a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.
Minority Business Enterprise Centers for Minority-Owned Businesses
The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee.
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