2024 TD Ready Challenge Focuses on Addressing Systemic Barriers Faced by Underserved Small Business Owners: $10 million in Grants Available for Innovative Solutions
2024年7月24日 - 11:02PM
ビジネスワイヤ(英語)
Applications now open for eligible charitable
and non-profit organizations across TD’s footprint in the U.S. and
Canada
TD Bank Group (TD) announced today that applications are now
open for the annual TD Ready Challenge grant program. This year, TD
is inviting eligible charitable and non-profit organizations to
submit proposals for innovative solutions that support underserved
small business owners in developing, launching, or growing their
businesses. A total of 10 grants are available of either CDN $1
million or USD $1 million, depending on the applicant's country of
residence.
"Small businesses are a crucial part of resilient communities
and contribute to strong local economies by helping to drive job
growth, innovation and business diversity” said Mushtak Najarali,
SVP, Sustainability, Strategic Sourcing and Enterprise Real Estate
at TD. “Despite their critical role, within their first five years
roughly 40% of businesses in Canada fail1, and in the U.S. an
astounding 50% fail2. Data from the Canadian Chamber of Commerce
and the U.S. Senate committee on Small Business and
Entrepreneurship shows that the situation is even harder for those
in underserved communities who often face systemic barriers when
starting or growing a business. With the 2024 TD Ready Challenge,
we aim to support innovative solutions developed by charities and
non-profit organizations that can help cultivate a more supportive
entrepreneurial landscape across our footprint. We are looking
forward to seeing the creative solutions that will be
submitted.”
The TD Ready Challenge aims to help scale programs that promote
innovation and inclusive growth. Through this year’s challenge, TD
is seeking to support novel strategies, technologies or
partnerships that have the potential to help underserved
entrepreneurs — especially those in industries such as the arts
that are still recovering post-pandemic— overcome persistent
barriers such as insufficient funding and support, lack of
knowledge about effective business planning, and limited access to
capital and credit history.
The TD Ready Challenge is a key component of the Bank's global
corporate citizenship platform, the TD Ready Commitment. Since
2018, the TD Ready Challenge has granted over $60 million CDN to 65
charitable organizations to help respond to pressing societal
issues connected to the four drivers of change of the TD Ready
Commitment: Financial Security, Vibrant Planet, Connected
Communities and Better Health. The TD Ready Challenge is the Bank's
annual North American initiative, which has ten (10) $1 million
grants (in local currency of recipients) available to organizations
developing innovative, impactful, and measurable solutions for a
changing world.
This year’s problem statement is one of the many ways TD is
seeking to help improve economic inclusion. It aligns with TD
Pathways to Economic Inclusion, the Bank’s social framework that
focuses on three areas where the Bank seeks to contribute to
inclusive financial and economic outcomes: employment access,
financial access, and housing access. It also aligns to the goals
of the TD Bank Community Impact Plan, a three-year, $20 billion
commitment announced in January 2024 which aims to provide economic
opportunities that benefit low- and moderate-income, diverse and
underserved communities across the Bank’s U.S. presence.
TD will be accepting grant applications until 4 p.m. ET on Sept.
5, 2024. For complete details about this year's Challenge, please
visit: td.com/readychallenge.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the sixth
largest bank in North America by assets and serves over 27.5
million customers in four key businesses operating in a number of
locations in financial centers around the globe: Canadian Personal
and Commercial Banking, including TD Canada Trust and TD Auto
Finance Canada; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in The Charles Schwab Corporation; Wealth Management and
Insurance, including TD Wealth (Canada), TD Direct Investing, and
TD Insurance; and Wholesale Banking, including TD Securities and TD
Cowen. TD also ranks among the world's leading online financial
services firms, with more than 17 million active online and mobile
customers. TD had $1.97 trillion in assets on April 30, 2024. The
Toronto-Dominion Bank trades under the symbol "TD" on the Toronto
and New York Stock Exchanges.
1 According to government of Canada Key Small Business
Statistics 2023 2 According to U.S. Bureau of Labor Statistics
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version on businesswire.com: https://www.businesswire.com/news/home/20240724058466/en/
Media: Natasha Brown (U.S.) Manager, Corporate and Public
Affairs, TD Bank natasha.brown@td.com Isabella Nasak Kima (Canada)
Manager, Corporate and Public Affairs, TD Bank Group
isabella.nasakkima@td.com
Toronto Dominion Bank (NYSE:TD)
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