FOR IMMEDIATE RELEASE
TD Charitable Foundation Supports Dorchester Bay Economic Development Corporation with Donation
January 22, 2019 – Boston, Massachusetts – The TD Charitable Foundation, the charitable giving arm of TD Bank, America’s Most Convenient Bank®, recently donated a total of $125,000 to Dorchester Bay Economic Development Corporation (DBEDC) as part of the foundation’s commitment to giving back to the community.
The funds from the TD Charitable Foundation will help the Dorchester Bay Neighborhood Loan Fund (DBNLF) continue its mission to support the growth of the business community by assisting local entrepreneurs in preserving and expanding their businesses. As a Technical Assistance (TA) provider, SBA micro-lender and certified by the United States Treasury as a Community Development Financial Institution (CDFI). DBNLF is the only community-based CDFI microlender in Boston, lending solely to six low-to-moderate neighborhoods of Boston: Dorchester, Roxbury, Mattapan, Jamaica Plain, Roslindale, and Hyde Park. The Loan Fund provides technical assistance with loan packaging, and general technical assistance to aspiring entrepreneurs as well as post-loan technical assistance for our micro-loan borrowers.
“The Dorchester Bay Neighborhood Loan Fund plays a vital role in providing capital to area entrepreneurs,” said Perry B. Newman, CEO of DBEDC. TD Charitable Foundation’s generous support will help us reach more businesses, deploy more capital and ultimately improve economic conditions in underserved areas. This grant will help us make an even greater impact.”
This contribution supports TD’s longstanding commitment to community enrichment through its newly launched Ready Commitment, a multi-year platform that actively promotes inclusivity, economic vitality, environmental wellbeing and health, enabling people of all backgrounds to succeed in a rapidly changing world. As part of The Ready Commitment, TD targets CDN $1 billion (US $775 million) in total by 2030 towards community giving in four critical areas: Financial Security, a more Vibrant Planet, Connected Communities and Better Health. Through this platform, TD aspires to create a more inclusive tomorrow — helping people of all backgrounds feel more confident, not just about their finances, but about their ability to achieve their goals. For information, visit td.com/thereadycommitment.
About the TD Charitable Foundation
The TD Charitable Foundation is the charitable giving arm of TD Bank, America’s Most Convenient Bank®, one of the 10 largest commercial banking organizations in the United States. Since its inception in 2002, the Foundation has distributed over $199 million and more than 19,400 grants through donations to local nonprofits from Maine to Florida. More information on the TD Charitable Foundation, including the online grant application, is available at TDBank.com.
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., providing more than 9 million customers with a full range of retail, small business and commercial banking products and services at more than 1,200 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America’s Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. 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.
About Dorchester Bay Economic Development Corporation
Dorchester Bay Economic Development Corporation (DBEDC) is a community development corporation founded by local civic associations in 1979 to address the problems of economic disinvestment, unemployment, crime, community tensions and the shortage of quality affordable housing undermining Boston’s Dorchester neighborhoods. Over the last 40 years, we have worked in partnership with local leaders and stakeholders to build and preserve 1,100 units of affordable housing and over 200,000 square feet of commercial space, to engage residents in community life, and to support a robust economy through small business support and economic development. The structures we have built are physical manifestations of our work, but at its core, our work is about strengthening our community, which is made up of the people who live and work in our neighborhood.