CHERRY HILL, N.J., Dec. 11, 2018 /PRNewswire/ -- TD
Bank, America's Most Convenient Bank®,
increased its U.S. Small Business Administration (SBA) lending
portfolio in 2018 to take the position as top lender in eight
states and in Washington, D.C., up
from seven states in 2017. In addition, TD Bank ranked second
nationwide for number of 7(a) loan units approved during the SBA's
fiscal year.
Overall in 2018, TD was no. 1 in its Maine-to-Florida footprint and no. 2 nationally
after lending $411.6 million and approving a total of 4,282
SBA 7(a) and 504 loans combined, a 33 percent increase
year-over-year in total units from 2017. TD also ranked as the top
lender in Connecticut,
Florida, Maine, New
Hampshire, New Jersey,
New York, Pennsylvania, South
Carolina, and Washington,
D.C., and ranked second in Delaware, Maryland, Massachusetts, Vermont and Virginia. These numbers are based on the SBA's
fiscal year, which ran from Oct. 1,
2017, to Sept. 30,
2018.
"TD Bank is a strong proponent of the SBA program, and is proud
to be among the administration's Preferred Lenders," said
Chris Giamo, Head of Commercial Bank
at TD Bank. "This year, we were able to help more than 4,200 small
business owners achieve their dreams by providing them access to
needed funding. Small businesses are an economic force in many
communities, and TD is well-positioned to help these businesses
thrive and grow."
According to the SBA, TD lent the following dollar amounts and
unit numbers to place first in the following states:
- Connecticut: $11,654,363; 116 units
- Florida: $71,766,081; 822 units
- Maine: $6,340,800; 89 units
- New Hampshire: $7,292,200; 127 units
- New Jersey: $103,199,188; 859 units
- New York: $116, 989,579; 1210 units
- Pennsylvania: $21,959,500; 319 units
- South Carolina: $23,368,000; 152 units
- Washington, D.C.: $1,655,000; 25 units
TD also ranked as the no. 2 SBA lender in the following
states:
- Delaware: $3,962,600; 44 units
- Maryland: $6,755,500; 90 units
- Massachusetts: $17,907,500; 232 units
- Vermont: $1,004,400; 26 units
- Virginia: $5,898,800; 112 units
"We have a three-fold approach to SBA lending across TD's
footprint that engages our strong network of more than 1,200
stores, our more than 100 small business specialists and our SBA
business development officers, all of whom work together to support
small business owners and walk them through the SBA lending
process," said Tom Pretty, Head
of SBA Lending at TD Bank. "Small business owners live and breathe
their businesses, and TD is there to guide them through each step
of the process to secure the right lending product for their unique
business needs."
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 9 million customers with a full range of
retail, small business and commercial banking products and services
at more than 1,200 convenient locations throughout the Northeast,
Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its
subsidiaries offer customized private banking and wealth management
services through TD Wealth®, and vehicle
financing and dealer commercial services through TD Auto Finance.
TD Bank is headquartered in Cherry Hill,
N.J. To learn more, visit www.tdbank.com. Find TD Bank on
Facebook at www.facebook.com/TDBank and on Twitter at
www.twitter.com/TDBank_US.
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. 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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SOURCE TD Bank