TD Awards $4 Million to U.S. Nonprofit Organizations Supporting Small Business Owners
Recipients of the 2024 TD Ready Challenge grants each receive a $1 million grant for their innovative solutions that support underserved small business owners in developing, launching, or growing their businesses
TD today announced four grant recipients of the 2024 TD Ready Challenge, an annual initiative that supports nonprofit organizations develop effective programs and solutions for communities within the bank's footprint.
Each year, the TD Ready Challenge solicits eligible organizations to submit applications that offer solutions to a different problem statement, with this year's focus being on innovative solutions to support underserved small business owners. Today's grant recipients will each receive $1 million through the TD Ready Challenge to advance initiatives designed to help disrupt barriers for underserved entrepreneurs while supporting the larger needs of the small business community. The recipients, whose initiatives range in scale and purpose, include:
- Hot Bread Kitchen creates economic opportunity for vulnerable populations in New York City through food entrepreneurship programs and support from seasoned business advisors;
- PA CDFI will support underserved entrepreneurs through technology, coaching, and other tools with an emphasis on access to capital and business growth;
- Tampa Bay Chamber Foundation will provide tailored, accelerator training programs and AI tools to help minority-owned small business owners create sustainable growth;
- Washington Area Community Investment Funds will collaborate with Building Bridges Across the River to provide coaching and financial services to local small businesses.
"Small businesses serve as the heart of our communities, but in a rapidly evolving economic landscape, they face a myriad of challenges to remain competitive and grow their businesses," says Paige Carlson-Heim, U.S. Head of Social Impact for TD Bank. "Through the TD Ready Challenge, we are honored to play a role in supporting organizations that develop lasting solutions that empower entrepreneurs, strengthen our communities and create a more accessible landscape for underserved entrepreneurs. Their solutions have incredible potential, and I look forward to seeing their impact for years to come."
The 2024 TD Ready Challenge's focus on supporting underserved small business owners is an example of TD's efforts to invest in income stability by supporting training and skill building for small business owners and entrepreneurs. Solutions proposed by the 2024 recipients aim to address gaps in services and access for underserved entrepreneurs, including low-to moderate-income small business owners. In previous years, the TD Ready Challenge has focused on helping to address barriers to affordable housing, health care and income stability, and addressing pandemic-related learning loss.
Learn more about the 2024 U.S. TD Ready Challenge recipients and their winning submissions, described in their own words:
Hot Bread Kitchen | HBK Incubates: Building financial security for immigrant and women of color small food business owners in New York City – New York
"The HBK Incubates program provides holistic and coordinated support services for low- to moderate-income women of color in New York City to seed, start and scale their food businesses."
Learn more about this organization
URL https://www.hotbreadkitchen.org
PA CDFI Network | Drive Your Business – Pennsylvania
"PA CDFI Network's Drive Your Business program will help address gaps in services and reduce barriers faced by underserved entrepreneurs by combining technology, education, coaching and community collaboration."
Learn more about this organization
URL https://pacdfinetwork.org/
Tampa Bay Chamber Foundation | Empower Sustainability Focused Accelerator – Florida
"To help enable continued growth for small minority-owned businesses, Tampa Bay Chamber Foundation's Empower Sustainability Focused Accelerator program will use an innovative approach to strategic planning and execution, and leverage automation tools."
Learn more about this organization
URL https://www.tampabaychamber.com/
Washington Area Community Investment Fund (WACIF)| Resilient Futures: Small Business Financial Wellness and Wealth Building Program – Washington, D.C.
"By combining an innovative financial product with specialized support for entrepreneurs that's sensitive to difficult financial situations, WACIF will be providing a first-of-its-kind initiative in the Washington, D.C., area."
Learn more about this organization
URL https://wacif.org/
To learn more about the TD Ready Challenge grant program and the 2024 U.S. grantee recipients, click here.
About The TD Ready Commitment
TD has a long-standing commitment to deliver on its purpose to enrich the lives of its customers, colleagues and communities. TD's corporate citizenship platform, the TD Ready Commitment, focuses community giving and colleague engagement in four areas that we call the Interconnected Drivers of Change: Financial Security, Vibrant Planet, Connected Communities and Better Health. Through the TD Ready Commitment, TD aspires to work with nonprofit and community-based organizations to help make a positive impact for the customers and communities we serve.
For further information about the TD Ready Commitment, click here.
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. by assets, providing over 10 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.td.com/us. Find TD Bank on Facebook at www.facebook.com/TDBank and on Instagram at www.instagram.com/TDBank_US/.
TD Bank is a subsidiary of The Toronto-Dominion Bank, a top 10 North American bank. 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/us.
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Natasha Brown
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TD Bank
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