assets.rbl.ms

TD Bank Ranks No. 1 for SBA Loans in 8 States & Washington, D.C.

Originally Published by TD Bank.

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.”

Latest News

Denver Mayor Michael Hancock

11 Mayors Team Up To Launch New Local Reparations Efforts, Establish Framework for a National Reparations Program

Following an announcement in March that city officials in Evanston, Illinois would begin paying qualifying city residents up to $25,000 in reparations for use on property payments and home repair, and fresh off the government’s announcement of Juneteenth becoming a federal holiday, mayors in 11 additional U.S. cities have announced…

executive boardroom

Black Corporate Board Membership Grew by 32% in the Last Year, but Major Gaps Still Exist

The murder of George Floyd galvanized the need for racial reform and equity in the U.S., and boards have been listening. Data from the consulting firm ISS Corporate Solutions reveals that between July 2020 and May 2021, 32% of individuals newly appointed to the corporate boards within the country’s largest…

Juneteenth National Independence Day Act bill signing

House Passes — and Biden Signs — New Bill To Make Juneteenth a Federal Holiday

The U.S. House of Representatives has voted to designate Juneteenth as a federal holiday, one day after the Senate unanimously voted for its passage. President Biden quickly signed the bill into law on June 17, making this year’s Juneteenth the first national recognition of Black Independence Day in the United…

LGBTQ protection in schools

US Education Department Issues Statement Confirming Title IX Protects LGBTQ Students Against Discrimination

Following an executive order from President Joe Biden directing federal agencies to defend LGBTQ students against discrimination, the Education Department has issued an official statement saying that Title IX does indeed ensure equal protection for LGBTQ students under federal law. Jo Yurcaba of NBC News reported that the Department of…

Texas Governor Greg Abbott

Texas Governor Approves Bill Banning Discussions of Race and Racism Within State’s Schools

Texas lawmakers continue to astound with the number of racist, transphobic laws they are willing to try to write into law.  In the last few months alone, we’ve seen Texas lawmakers draft legislation that would penalize parents who support and help their transgender children access gender-affirming care with jail time…

Cigna building

Cigna and New York Life Expand Eligibility for ‘Brave of Heart Fund’ Grants Supporting Families of Healthcare Workers Who Lost Their Lives in the Fight Against COVID-19

Originally published at cigna.com. Cigna ranked No. 33 on The DiversityInc Top 50 Companies for Diversity list in 2021.   On June 17, the foundations of New York Life and Cigna announced that the Brave of Heart Fund, which provides monetary grants to the families of heroic health care workers…