February 7, 2012 - New York, NY- TD Bank, through the TD Charitable Foundation made a three-year pledge totaling $500,000 to support ACCION USA's microlending programs from Maine to Florida. TD Bank, America's Most Convenient Bank®, places a strategic focus on small business lending as part of the bank's commitment to the communities it serves.
Named one of CNN Money's Top 10 microlenders in the United States, ACCION USA provides necessary lending and financial education opportunities to small businesses nationwide. By igniting ideas and empowering self-starters, ACCION USA transforms neighborhoods and fuels the economy by driving job creation with a trickle-up approach.
"TD Bank helps us construct the four pillars of support needed to expand the scope of ACCION USA by providing operating support, loan capital, cash management and referrals," said Paul Quintero, CEO of ACCION USA. "We are grateful beyond words for the commitment this represents and the impact it will have on entrepreneurs throughout the East Coast."
"We are proud to support ACCION USA's efforts to empower entrepreneurs and their businesses," said Peter Meyer, Market President, TD Bank. "We believe strong financial education and the best financing options to meet the needs of small business owners will ultimately help rebuild the economy and create more jobs in our communities."
TD Bank recently made investments in its Small Business Banking franchise in anticipation of boosting its small business lending efforts. In 2011, TD Bank doubled its SBA lending sales force, and increased its conventional small business sales team by 20 percent. In May 2011, the bank launched its first-ever Small Business Outreach Campaign - where thousands of TD employees visited over 30,000 small business owners from Maine to Florida to discuss credit needs. In March 2011, TD Bank also launched a new small business call center team, dedicated to addressing the unique needs of local small business owners.
A staunch commitment to active involvement in the local community is a vital element of the TD Bank philosophy. The TD Charitable Foundation provides financial and other support to affordable housing, financial literacy and education, and environmental initiatives, many of which focus on improving the welfare of low- to moderate- income individuals and communities in need.
About ACCION USA
ACCION USA is a private, nonprofit organization that serves low- and moderate-income individuals, primarily minorities and women, who are unable to access mainstream business loans and financial services. A pioneer and recognized leader in the domestic microfinance field, ACCION USA is dedicated to providing microentrepreneurs and individuals on the economic margin with the crucial chance to access capital and develop greater financial literacy. ACCION USA is a member of the U.S. ACCION Network, the largest U.S. microlending network, with over $272 million lent since inception in 1991. ACCION USA business loans range from $500-$50,000 and are offered nationwide via the ACCION USA online lending platform. For more information about ACCION USA's small business loan products, visit www.accionusa.org.
About the TD Charitable Foundation
The TD Charitable Foundation is the charitable giving arm of TD Bank N.A., which operates as TD Bank, America's Most Convenient Bank®, and is one of the 10 largest commercial banking organizations in the United States. The Foundation's mission is to serve the individuals, families and businesses in all the communities where TD Bank operates, having made $83.7 million in charitable donations since its inception in 2002. The Foundation's areas of focus are affordable housing, financial literacy and education, and the environment. More information on the TD Charitable Foundation, including an online grant application, is available at www.TDBank.com.
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 7.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,280 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized wealth management services through TD Wealth, and insurance products and services through TD Insurance, Inc. TD Bank is headquartered in Cherry Hill, N.J., and Portland, Maine. To learn more, find TD Bank on Facebook at www.facebook.com/TDMoneyLoungeUS, on Twitter at www.twitter.com/TDBank_US, or visit www.tdbank.com.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America and one of the few banks in the world rated Aaa by Moody's. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD." To learn more, visit www.td.com.
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Contact: Alejandra Boggiano
aboggiano@accionusa.org
646-833-4552