TD Bank Approves $50.9 Million in SBA-Backed Loans to New England Small Businesses

TD Bank provided New England small businesses with $50.9 million in loans backed by the U.S. Small Business Administration (SBA), supporting local businesses' efforts to expand their operations and create new jobs. TD Bank was the top SBA bank lender by dollar volume for Region I during the SBA's 2012 fiscal year ending September 30.

The SBA's Region I serves New England's six states. Within Region I, TD Bank was also the top 2012 SBA bank lender by dollar volume in three states: Maine ($6.6 million), New Hampshire ($8.5 million) and Vermont ($8.2 million).

Cautious optimism and gradual improvement in New England's economy led to more small businesses thinking about growth and reinvesting in their business in 2012, said Rich Bradshaw, head of SBA Programs, TD Bank. Through our SBA loan programs, we were able to provide financing that allowed them to pursue activities such as ground-up construction, business acquisitions, and real estate and equipment purchases.

As one of the nation's top-10 SBA bank lenders, TD Bank offers competitively-priced, government-backed financing programs for small businesses within its Maine to Florida footprint. Through SBA loan programs, approved small businesses can expect significant cash flow enhancement and lower down-payments.

New England small businesses deserve a banking partner that understands their business and helps them find customized lending solutions that enable them to grow, said Bradshaw. Our SBA loan program offers affordable financing options for qualified small businesses, and we encourage them to visit us to learn more about how we can help them succeed.