Home music industry TD Bank Ranks # 1 in SBA Loans for Fourth Consecutive Year in Maine-Florida Footprint

TD Bank Ranks # 1 in SBA Loans for Fourth Consecutive Year in Maine-Florida Footprint

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CHERRY HILL, NJ, November 16, 2020 / PRNewswire / – TD Bank, America’s Most Convenient Bank®, today announced that for the fourth consecutive year, TD has ranked first in total loan units approved by the U.S. Small Business Administration (SBA) in its Maine-at-Florida SBA’s FY2020 footprint, supporting more than 1,500 businesses through two SBA loan products: 7 (a) and 504 loans.

America’s Most Convenient Bank. (PRNewsFoto / TD Bank)

TD was also ranked first for the total amount of 504 dollars (about $ 146 million) in its imprint. Despite the challenges associated with the COVID-19 pandemic, TD has remained committed to SBA loans and ranked in the top four in the country after lending. $ 370.1 million and approve a total of 1,560 SBA 7 (a) and 504 loans combined.

In addition to SBA 7 (a) and 504 loans, TD Bank is proud to have provided approximately 86,000 Paycheck Protection Program (P3) loans for over $ 8.7 billion in funding from April to August under the special SBA program established by the Coronavirus Aid, Relief and Economic Security Act (CARES). The bank was a leader in PPPs, ranking sixth nationally in terms of loan value and volume.

“This has been an eventful year for small businesses due to COVID-19 and our team has tackled these challenges head-on by using our SBA Preferred Lender status to not only provide financial relief through P3 loans, but to continue providing 7 (a)) and 504 SBA loans, ”said Chris Giamo, Head of Commercial Bank, TD Bank. “TD recognizes the important role small businesses play in our local communities and in the economy, and we support these businesses by providing them with the financing they need, both in good and tough times.

SBA loan services remained a priority in 2020

In the wake of COVID-19, thousands of businesses have requested additional funding through SBA programs such as the 504 and 7 (a) loans. However, due to the economic impact of the pandemic, many organizations are focusing more on keeping their doors open than on strategic growth priorities, which has led to the huge number of PPP loans.

“In addition to providing 7 (a) and 504 offers, the bank worked around the clock for months to process PPP loans and approved over 25 times the number of SBA loans we did approve in the past. ‘a typical year,’ said Tom Jolie, Head of SBA Loans, TD Bank. “TD Bank and our SBA Lending Group are proud to support our small business clients to provide important lending services, including more than 7 (a) loans than any other bank in our footprint, and financial aid offerings. to help them emerge from the pandemic in a strong position. “

About TD Bank, America’s Most Convenient Bank®

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the United States, providing more than 9.5 million customers with a full range of personal, small business and business banking products and services in over 1,220 convenient locations in the Northeast, Mid-Atlantic, Metro DC, the Carolinas and Florida. In addition, TD Bank and its subsidiaries provide personalized private banking and wealth management services through TD Wealth Management.®, as well as vehicle financing and dealer business services through TD Auto Finance. TD Bank is headquartered at Cherry Hill, New Jersey To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US and www.twitter.com/TDNews_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, one of the top 10 financial services companies in North America. The Toronto-Dominion Bank trades on the new York and Toronto exchanges under the symbol “TD”. To learn more, visit www.td.com/us.

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SOURCE TD Bank