June 15, 2020 (Brunswick, ME) – The TD Charitable Foundation, the charitable giving arm of TD Bank, America’s Most Convenient Bank®, recently donated $100,000 to Coastal Enterprises, Inc. (CEI) to assist in providing services to those impacted by COVID-19 in Maine.
CEI grows good jobs, environmentally sustainable enterprises, and broadly shared prosperity in Maine and other rural regions. As a 43-year-old community development financial institution, CEI provides advice and financing to businesses, offers expertise and workforce development across industries vital to rural economies, provides housing and financial capability counseling and advocates for pragmatic policy solutions.
“We recognize that COVID-19 has disproportionately impacted vulnerable populations, including small businesses in the community that were forced to alter their operations during government mandated shutdowns,” said Sheryl McQuade, Regional President for Northern New England, TD Bank. “Through our work with CEI, TD is focused on providing the tools and technical assistance small businesses hardest hit by the pandemic need to achieve stability and success in this volatile economic environment.”
Over 70 percent of the people and communities CEI works with have low incomes. In 2019, CEI provided 100 loans totaling $13.5 million to small businesses and advised 1,484 Maine entrepreneurs. In the first ten weeks of the COVID-19 pandemic, CEI business advisers held over 2,000 coaching sessions with small business owners, nearly twice the number of sessions they provide in a typical year. The funds from the TD Charitable Foundation will help CEI continue to provide the critical, individualized technical assistance services Maine small businesses need over the next twelve months.
“This donation from TD Charitable Foundation will help CEI provide urgently needed advice to Maine entrepreneurs as they navigate through the COVID-19 pandemic,” said CEI CEO Betsy Biemann. “Our clients are disproportionately people with low incomes, women, immigrants and refugees, people of color, veterans and people with disabilities – the very people that are most at risk in this public health and economic crisis. Their needs are unprecedented and ongoing. We are simultaneously responding in real time and planning for what will be needed next.”
This contribution is aligned with the bank’s corporate citizenship platform, the TD Ready Commitment which actively advances inclusivity, economic vitality, environmental wellbeing and health, enabling people of all backgrounds to succeed in a rapidly changing world. As part of the TD Ready Commitment, TD targets 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. Visit: https://www.tdbank.com/corporate-responsibility/the-ready-commitment/
About Coastal Enterprises, Inc. (CEI)
Coastal Enterprises, Inc. (CEI) helps to grow good jobs, environmentally sustainable enterprises and shared prosperity in Maine and in rural regions across the country by integrating financing, business and industry expertise, and policy solutions. A community development financial institution and community development corporation, CEI envisions a world in which communities are economically and environmentally healthy, enabling all people, especially those with low incomes, to reach their full potential. More at www.ceimaine.org.
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 $230 million through more than 21,330 grants through donations to local nonprofits from Maine to Florida. More information on the TD Charitable Foundation is available at https://www.tdbank.com/corporate-responsibility/the-ready-commitment/funding-opportunities/
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.td.com/us. 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/us.
Media Contact: Liz Rogers, Chief Communications Officer, CEI, firstname.lastname@example.org