TD Bank Achieves Exceptional SBA Lending Results
In a significant achievement, TD Bank has ranked No. 1 for the eighth consecutive year in the total number of approved U.S. Small Business Administration (SBA) loans across its vast footprint. This accomplishment highlights TD Bank's dedication to supporting small businesses in their quest for growth and success.
Impressive SBA Loan Numbers
For the latest fiscal year, TD Bank approved a remarkable 4,038 SBA loans, with a total lending amount of approximately $663 million. This impressive figure includes both 7(a) and 504 loans, showcasing the bank's extensive involvement in enhancing the small business landscape throughout the country.
Strong Performance Across Multiple States
TD Bank's excellence is not just limited to the national scene. It has also clinched the top spot in eight states for 7(a) loan units, confirming its pivotal role in providing essential financial support. The states where TD Bank emerged as a leader include Eastern Pennsylvania, Florida, Maine, New Hampshire, New Jersey, New York, South Carolina, and Washington, D.C.
Commitment to Small Business Success
Leaders at TD Bank emphasize the importance of building relationships and understanding the unique needs of small businesses. Tom Pretty, the Head of SBA Lending, expressed pride in the bank's personalized approach, which enables them to empower business owners. This relationship-driven strategy has set TD apart as a trusted advisor, allowing entrepreneurs to seize growth opportunities and navigate the complexities of financing.
The Role of SBA Lending in Economic Development
Moreover, TD Bank's expertise in SBA lending significantly impacts the economy, as it collaborates with businesses at various stages. The bank is particularly noted for its support in areas such as startup franchises, medical practices, business acquisitions, and owner-occupied commercial real estate. Amy Dinkar-Patel, the Head of Treasury Management and Commercial & Small Business Products and Solutions, highlighted the bank's commitment to being the number one choice for small businesses seeking financial assistance.
Focus on Future Growth
TD Bank’s focus remains clear: to allow small businesses to concentrate on innovation and growth while the bank manages the financial details. This commitment resonates deeply within the team, reflecting a unified vision of fostering an environment where small businesses can thrive.
About TD Bank
TD Bank, recognized as America’s Most Convenient Bank, is among the ten largest banks in the U.S. by assets. It serves over 10 million customers by offering an extensive range of banking products and services through a network of more than 1,100 locations. In addition to traditional banking services, TD Bank provides vehicle financing, dealer commercial services, and tailored wealth management solutions through its subsidiaries.
A Legacy of Leadership in Lending
The legacy of excellence in SBA lending is a point of pride for TD Bank. The organization leverages its resources and expertise to empower entrepreneurs and business owners, ensuring they receive the support they need to achieve their aspirations. This steadfast dedication to servicing the small business community underscores TD Bank's vital role in the economic fabric of the regions it serves.
Frequently Asked Questions
What ranking did TD Bank achieve in SBA lending?
TD Bank ranked No. 1 in SBA lending for the eighth consecutive year.
How many SBA loans did TD Bank approve?
TD Bank approved 4,038 SBA loans totaling approximately $663 million.
In which states did TD Bank rank No. 1 for 7(a) loans?
TD Bank ranked No. 1 in states including Eastern Pennsylvania, Florida, Maine, New Hampshire, New Jersey, New York, South Carolina, and Washington, D.C.
What is the focus of TD Bank's small business lending strategy?
TD Bank focuses on providing personalized service and being a trusted advisor, enabling small businesses to grow and innovate.
What additional services does TD Bank offer?
Besides SBA lending, TD Bank offers vehicle financing, commercial banking services, and wealth management products.
