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TD Bank Unveils $100M Equity Fund To Support Small Black And Brown-Owned Businesses

TD Bank is rolling out a new initiative to further support Black and brown business owners in America. Today, the national bank announced the establishment of its new $100 million equity fund to provide financial resources to small minority-owned businesses. This comes as part of its continued commitment to address racial inequities and support underserved communities of color. TD Bank’s equity fund allows Specialized Small Business Investment Companies (SSBICs) — which provide financial assistance to disadvantaged or minority-owned businesses — and Community Development Financial Institutions (CDFIs) — known for helping Black and Latinx-owned businesses secure financing — to offer up small business loans and technical assistance to ensure that these businesses have the tools they need to scale effectively. “We hope that our investment in these SSBICs and CDFIs serves as a means of making access to capital more equitable for minority small business owners. But our support doesn’t...

Njera Perkins

Jun 2, 2021