Small Business Advice

TD Bank Earns No. 1 Small Business Administration Lender for 6th Straight Year

TD Bank Earns No. 1 Small Business Administration Lender for
TD, America's Most Convenient Bank®, announced today that it ranked No. 1 for the sixth consecutive year in total number of approved U.S. Small Business Administration (SBA) loans in its Maine-to-Florida footprint for the SBA's 2022 fiscal year. TD Bank is also the #2 ranked SBA lender nationwide.In the SBA's 2022 fiscal year (Oct. 1, 2021 – Sept. 30, 2022), TD outperformed the competition, lending approximately $313 million and approving a total of 2,134 SBA 7(a) and 504 loans combined. We are proud to be a leader in serving Small Businesses and are committed to meeting the needs of these entrepreneurs, who serve as the backbone of the local economy," said Chris Giamo, Head of Commercial Banking, TD Bank. "While we've seen improvement over the past two years, challenges still remain for small businesses and SBA loans are a key piece in meeting credit needs. This milestone for TD Bank is a point of pride and is directly aligned with our purpose to enrich the lives of our customers and communities.

"We are very proud of our small business programs,The work we do with our small business customers helps drive local economies and ensures the communities we serve continue to thrive." 

Amy Dinkar-Patel, Head of Commercial Distribution, TD Bank.

In addition to earning the top spot across its footprint, TD achieved No. 1 rankings in four states – New Hampshire, New Jersey, South Carolina and Florida. Congratulations to the Small Business team for earning these great honors," said Tom Pretty, Head of SBA Lending, TD Bank. "While we don't do this for the accolades, it's great that our hard work to support small businesses from Maine to Florida is being recognized.

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 over 9.8 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.



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Small Business Hiring Experiences Flat Reading in November

CBIZ | December 13, 2023

The CBIZ Small Business Employment Index reported a seasonally adjusted increase of 0.15% in November after experiencing two consecutive months of declines in hiring. The CBIZ SBEI tracks payroll and hiring trends for over 3,100 companies that have 300 or fewer employees, providing broad insight into small business trends. said Anna Rathbun, CFA, Chief Investment Officer, CBIZ Investment Advisory Services, LLC. Up to this point, month over month employment trends have tightened in range compared to the SBEI historical data Even if small businesses are not inclined to hire in large numbers considering the uncertain economic environment, they are also not willing to lay off workers easily. [Source -Business Wire] The Bureau of Labor Statistics’ employment report indicated hiring growth that barely beat expectations. The November reading showed an overall increase of 199,000 private-sector jobs. Given the overall hiring growth, the national unemployment rate fell slightly to 3.7%. The report is inclusive of all non-farm private employers across businesses of all sizes. Meanwhile, the ADP employment report indicated hiring growth among small, medium and large-sized companies. Its November reading showed an overall increase of 103,000 private-sector jobs for the month. Small businesses accounted for an increase of 6,000 of those jobs on a seasonally adjusted, month-over-month basis. The ADP report counts small businesses as companies with 49 or fewer employees, while the CBIZ SBEI uses data from companies with 300 employees or fewer. From a regional perspective, the West (1.72%) was the only region to report an increase. The Central (0.05%) and Southeast (-0.07%) regions both showed a flat reading, while the Northeast (-0.28%) experienced a decline. On an industry level, gains in employment were seen in Management, Transportation, and Utilities. Industry decreases were observed in Agriculture, Fishing and Hunting, Information, and Rental and Leasing Services. Rathbun added, “Out of the industries that shed jobs, Information stands out. As companies tighten their belts, spending on advertising as well as publishing, telecommunication, and broadcasting can end up on the chopping block. Attrition in employment for these services may help to complete the picture of American enterprises becoming leaner through the end of the year.” Additional takeaways from the November SBEI include November’s snapshot: 19% of companies in the index increased staffing, 61% made no change to their headcounts and 20% reduced employment totals. Industries at-a-glance: Management, Transportation, and Utilities experienced hiring gains. Decreases were seen in Agriculture; Fishing and Hunting, Information; and Rental and Leasing Services. Geographical hiring: The West (1.72%) reported a hiring increase, while the Central (0.05%) and Southeast (-0.07%) regions both showed a flat reading. The Northeast (-0.28%) experienced a decline. What’s next? While most areas of the United States saw flat to negative employment trends, the West stood out with a large increase. This increase was broad-based, not isolated to any industry or sector that might suggest something more meaningful. It remains to be seen how the year will wrap up. About CBIZ CBIZ is a leading provider of financial, insurance and advisory services to businesses throughout the United States. Financial services include accounting, tax, government health care consulting, transaction advisory, risk advisory, and valuation services. Insurance services include employee benefits consulting, retirement plan consulting, property and casualty insurance, payroll, and human capital consulting. With more than 120 offices in 32 states, CBIZ is one of the largest accounting and insurance brokerage providers in the U.S.

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MARKETING AND NETWORKING, SMALL BUSINESS TRENDS Joins Certified Trade Mission to Hong Kong to Explore Business Expansion Opportunities in Asia

MyTradeZone | November 28, 2023, a trade and Social Networking for businesses, is pleased to announce its upcoming visit to Hong Kong from December 4th to 8th, 2023. Bachir Kassir, founder of MyTradeZone, will join a delegation of American companies to Hong Kong as part of a U.S. Department of Commerce Certified Trade Mission organized by IBS Global Consulting with the support of the Hong Kong Trade Development Council and the U.S. Commercial Service. The delegation, comprising a diverse group of American companies, aims to foster cross-border partnerships, explore export opportunities, and deepen economic ties between the United States and Hong Kong. The visit to Hong Kong presents an exciting opportunity for to expand its global reach, tap into new markets, and establish key connections with Hong Kong's dynamic business community and trade associations. With Hong Kong's strategic location as a gateway to the Asia-Pacific region, robust financial services sector, and reputation as a major international trade hub, this visit holds immense promise for American enterprises looking to navigate the Asian market. Led by Tonya McNeal-Weary, Managing Director at IBS Global Consulting, the delegation will engage in a series of high-level meetings, networking events, and industry-specific forums during the five-day visit. These activities are designed to facilitate mutually beneficial partnerships between U.S. and Hong Kong businesses across various sectors. [] is a disruptive business networking platform, and is like an always open trade show: • Businesses: Add company profile page. Showcase products & services. Network locally and around the world • Event Organizers, Trade Associations, & Networking Groups: Provide value-added offering to members & sponsors in a public or private setting • Creators & Group owners: Monetize your creations via peer-to-peer payment enablement • Advertisers and Marketers: MyTradeZone's B2B search engine offers highly targeted and cost-effective advertisements to both buyers and sellers • Business Professionals: Grow your professional network, chat, connect, follow, takes notes, share and collaborate As an official member of the delegation, MyTradeZone will have the opportunity to gain firsthand insights into Hong Kong's business landscape, explore regulatory frameworks, exchange best practices, and forge lasting relationships with key stakeholders. Additionally, the itinerary includes tailored site visits to cutting-edge facilities and industrial parks, showcasing Hong Kong's commitment to innovation and entrepreneurship. The visit to Hong Kong aims to enhance trade cooperation and seeks to highlight the enduring friendship between the United States and Hong Kong. As both economies continue to recover from the challenges posed by the global pandemic, this visit becomes even more crucial in reinvigorating trade ties and promoting long-term economic growth. About MyTradeZone is a social networking platform for businesses. We are working on the next thing to disrupt business networking. MyTradeZone is a forward-thinking B2B media technology company reshaping how businesses connect and network. MyTradeZone's B2B search engine offers highly targeted and cost-effective advertisements to both buyers and sellers. MyTradeZone is also a perfect companion offering to trade show organizers and networking groups offering value added benefits to both members and sponsors.

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PR Newswire | January 10, 2024

DreamSpring, a nonprofit Community Development Financial Institution (CDFI) and Small Business Administration (SBA) lender, and Woodforest National Bank® (Woodforest), a national bank with over 760 branches across 17 states, are working together to provide access to $1.5 million in debt capital to low- and moderate-income (LMI) small business entrepreneurs. The influx of lending capital from Woodforest to DreamSpring is a milestone in their shared commitment to spur community development and job creation through expanding peer networks and increasing access to capital. "Our collaboration with Woodforest widens the path for entrepreneurs to access much-needed capital and business resources," said Anne Haines, President and CEO of DreamSpring. "With Woodforest at our side, DreamSpring continues to expand our capacity to help small business owners realize their dreams and build stronger, more resilient communities through entrepreneurship." Daniel Galindo, Senior Vice President & Director of the CRA Program & Strategic Initiatives at Woodforest National Bank added, "Working with a strong CDFI like DreamSpring combines both organizations' financial strengths to provide access to LMI small business owners who struggle to get the funds they need to run and grow their business which is a key focus for our team." Both financial institutions share a commitment to empowering communities through entrepreneurship. The term loan agreement will allow DreamSpring to provide microloans to small business owners and LMI entrepreneurs as they start or grow their businesses across 10 shared states in DreamSpring and Woodforest's national footprints: Alabama, Florida, Georgia, Illinois, Louisiana, Mississippi, North Carolina, New York, South Carolina, and Texas. The agreement between DreamSpring and Woodforest also strengthens the teams' vision to expand peer networks across their shared footprint to provide more resources for small business owners. For instance, in South Dallas, both organizations have embraced the Office of the Comptroller of the Currency's (OCC) acclaimed Dallas REACh initiative, aimed at increasing LMI access to capital. Woodforest facilitated DreamSpring's connection to the monthly Dallas REACh roundtable, bringing together banks, CDFIs, and community stakeholders and leaders. This collaboration has resulted in a greater network of support in South Dallas, enriching the local small business ecosystem. One South Dallas-based small business owner who has felt the life-changing impact of capital is Taylor Symoné. Her small day spa business offers beauty and hair treatments, therapeutic post-operative care, massages, and facials. When she was first getting started, Taylor remembers calling about 15 financial institutions and feeling frustrated every time by the paperwork needed for a small loan, as well as rigid requirements for only helping businesses with at least two years of operational history. DreamSpring was different. Taylor has since repaid three DreamSpring loans to fuel her business growth and create even more opportunities for her family. "I'm really big on generational wealth," says Taylor. "I like to teach my kids about being their own boss, being the star of their own show, and learning and understanding that you can create your own passageway — you just have to want to." For 30 years, DreamSpring has developed small business training and a range of loan products to meet the needs of entrepreneurs like Taylor. Today, DreamSpring offers credit-building small business loans, lines of credit, SBA 7(a) loans, and commercial real estate loans in 27 states to level the playing field by bridging credit and knowledge gaps that hinder economic mobility. About DreamSpring DreamSpring is a nonprofit Community Development Financial Institution (CDFI) and U.S. Small Business Administration (SBA) lender dedicated to accelerating the economic inclusion and strength of underserved communities. Founded in 1994, the organization provides rapid access to capital and customized wrap-around support to the most vulnerable small business owners in 27 states, focusing on communities including people of color, women, low- to moderate-income earners, people with disabilities, and start-ups. To date, DreamSpring has issued more than 48,796 loans totaling over $538 million to small businesses that support an estimated 65,138 jobs. About Woodforest National Bank Celebrating over 40 years of community banking service, Woodforest National Bank has successfully stood among the strongest community banks in the nation, proudly offering outstanding customer service since 1980. Woodforest currently operates over 760 branches in 17 states across the United States and is an Outstanding CRA rated institution.

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