By Michael Souza
PBN Staff Writer
NEW YORK – TD Bank, through the TD Charitable Foundation, has made a three-year pledge totaling $500,000 to support ACCION USA’s microlending programs from Maine to Florida.
Formed in 1991, ACCION USA is a recognized leader in microfinance, having provided over $119 million in over 19,500 loans. Their objective is to provide the opportunity for small businesses to grow and prosper. Named one of CNN Money’s Top 10 microlenders in the United States, they provide lending and financial education 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.
“We are grateful beyond words for the commitment this represents and the impact it will have on entrepreneurs throughout the East Coast,” said Paul Quintero, CEO of ACCION USA.
TD Bank places a strategic focus on small business lending as part of its commitment to the communities it serves. “We are proud to support ACCION USA’s efforts to empower entrepreneurs and their businesses,” said Peter Meyer, market president of 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.”
The move is one of the many actions TD bank has taken over the last year. In 2011, the bank doubled its SBA lending sales force and increased its conventional small business sales team by 20 percent. Last May the bank launched its first Small Business Outreach Campaign, where thousands of TD employees visited more than 30,000 small-business owners from Maine to Florida to discuss credit needs. In March 2011, TD Bank launched a new small-business call center team dedicated to addressing the unique needs of local small-business owners.