TD BLACK BUSINESS MONTH WEBINAR DATE: AUGUST 16, 2022. DURATION: 93:53
PREPARED BY:
KATHLEEN LYNCH NEESONS, A VERITEXT COMPANY 77 KING STREET WEST, SUITE 2020 TORONTO, ONTARIO M5K 1A2 TEL. 416.413.7755
NEESONS 416.413.7755 | www.neesonsreporting.com
HUGH ALLEN: Good afternoon. I am Hugh
Allen, regional president for TD Bank's mid south region. I would like to welcome you to Black in Business 2022 brought to you by TD's Black Employees Network of which I started as a co-chair.We are very happy to have all of you joining ushere today.
I'm going to introduce and turn over our session to Monte Foster. Monte is the market president for retail banking for Connecticut, Western Massachusetts and Upstate New York at TD Bank, America's most convenient bank. Monte oversees all retail and small business banking operations and lending services in the territory that he manages. He manages a dedicated team of over 1,000 bankers in 95 retail banking locations,and he has over 21 years banking experience. He also serves in the community as an active member in several organizations. He and his team work with industry and community partners to deliver financial education to youth and historically disenfranchised groups, and he's also very active and engaged with the Black Employee Network leading our work stream around early talent. Monte, over to you.
NEESONS 416.413.7755 | www.neesonsreporting.com MONTE FOSTER: Great. Good afternoon,Hugh, and good afternoon, everyone. It's certainly a pleasure to be with you. I'm absolutely delighted to be here at an educational event designed to help businesses succeed. We know that businesses are the lifeblood of our community and a base for economical development, vitality and prosperity. We all know starting and running a business is tough. Quite simply, often times the business owner has to be the CEO the CFO the COO and everything in between. And we also recognize that there are challenges that disproportionally affect Black-owned businesses, which is what National Black Business Month is really all about, the opportunity to shine some light on Black businesses and also offer them the support that they need in order to grow.
NEESONS 416.413.7755 | www.neesonsreporting.com and about 30 percent of all minority-owned businesses.In honour of National Black Business Month and as part of TD's ongoing commitment to support the Black business community, throughout the month of August and throughout the year TD will be highlighting Black-owned businesses. Black entrepreneurs have faced systemic barriers to success, like lack of access to capital, fewer business mentorship and relationships and the lack of some business opportunities. During National Black Business Month and all year long TD supports and has a commitment to Black colleagues, customers and communities, and it's an ongoing business priority for TD. At TD we are more than a bank for businesses. We really have built a philosophy of being a true business partner by delivering trusted advice and counsel and providing our clients with the latest tools and technology to really help their businesses to be successful.
416.413.7755 | www.neesonsreporting.com merchant solutions, including lockbox, point of sale solutions, integrative payments and commercial plus credit card. We also offer treasury management services at TD. In addition we offer online banking, TD eTreasury that includes centralized account information and automated clearing house and wire payment capabilities, an evolving platform of digital solutions which became really indispensable during COVID 19 mandated lockdowns and remain crucial to business success as we continue to navigate some of the outcomes of COVID. And we also offer TD wealth solutions where we really partner with our customers to offer financial planning and private wealth management solutions tailored to help them achieve their goals and objectives.
Now, from August through October we also are offering some additional opportunities and resources to support National Black Business Month. These include merchant solutions, 1 percent cash back on qualifying transactions during the first three billing cycles up to $300, small business lending, prime plus zero, and a small business administration express counter offer packaging fee
NEESONS 416.413.7755 | www.neesonsreporting.com waiver of up to $250. TD online accounting. Waiving TD online accounting monthly maintenance fee for the first three months. And then our credit card product. Customers can earn up to 2 percent cash back when they redeem into eligible TD deposit accounts.And so I wanted to highlight some of these things because we recognize how important it is to support all business owners, but wanted to highlight the support that we're offering during Black Business Month. Now, what's most important is that all of these products and services come together to help us deliver a legendary customer experience from Main Street to Broad Street from Maine to Florida in all of the states in which TD does business.
I hope you find this event informative, enlightening and entertaining and that you learn something that you can take back to your business to help it be even more successful. So I'm delighted to be here today. I hope that you're delighted to participate and sincerely hope that you find this time valuable. With that I'll turn things over to my pier and colleague Damien. Damien?
NEESONS 416.413.7755 | www.neesonsreporting.com DAMIEN GHEE: Hi. I'm Damien Ghee. I'm the regional vice president of the Greater Philadelphia Area and the co-lead for our customer biller for the Black Employee Network, and I'm excited for today's event. As you can see on the screen, we have a jam-packed agenda of our great partners as we deliver the One TD approach to this event and sharing those experiences in celebration of Black Business Month.
As we get started I want to make sure -- as you have questions throughout this event with each presenter, make sure you go into slido.com. That's slido.com with the code TDBlackBiz. Again, the code is TDBlackBiz. And this is where you can put your questions in, and near the end of the event when we have our panel discussions, you'll have that opportunity to get the answers you need and the follow-up that comes with it. So with that let's get the show on the road.
Our first presenter I would like to share is Marianne Keehan. She is the senior vice president, regional sales manager for TD Bank. Based in West Palm Beach, Florida she is responsible for managing the SBA business
NEESONS 416.413.7755 | www.neesonsreporting.com development officers in Florida, South Carolina, North Carolina, Maryland, Virginia, Washington DC and Delaware. Marianne has 31 years of experience in banking and commercial lending, specializing in SBA lending since 1995. Prior to joining TD Bank in 2011 she served in a similar role at First Peoples Bank in Stuart, Florida and as an SBA business development officer at Small Business Loan Source and Small Business Loan Express, both covering the south Florida market. With that I'd like to introduce Marianne. Marianne, over to you. MARIANNE KEEHAN: Thank you very much, Damien. Thank you for that introduction. If we can go to the next slide. One of the great programs that is available to small business owners is the SBA program, and I'm so excited that I get to focus 100 percent of my time on it.
At TD we really focus a lot on SBA loans, and we're very proud to say that in the last five years we have been the number one lender in our footprint. As you can see, our footprint goes from Maine to Florida. And we track this very closely and therefore we're also hoping that -- and we feel pretty good that we'll be the number one
NEESONS 416.413.7755 | www.neesonsreporting.com lender again this year. So we have a lot of experience. We are a preferred lender. This basically means that when you come to us for an SBA loan, we don't need to go to the SBA, we basically approve it on behalf of SBA, which is a big advantage, and this is because we do so many loans SBA knows we know how to do it and follow the rules. So if you can go to the next slide. Two of the programs that I'm kind of going to mention right now are the big programs, which is the 7(a). One of the advantages of the 7(a) is you can get in with even as little as 100 percent financing, but maybe even 10 percent down. This program has a lot of uses. You can buy real estate, you can by equipment. You could also just use it for working capital, for inventory. Maybe you're looking to buyout a partner or maybe you just need to refinance some existing debt. This is a great program for it. Depending on what you're using your proceeds for, that's how long your term would be, but it could be up to 25 years and, you know, with as small a down payment as 10 percent. Or if it's a partner buyout, you might not have to put
NEESONS 416.413.7755 | www.neesonsreporting.com anything down -- or a debt refinance. This is really a good product for anybody looking for some financing. If we can go to the next slide. The 504 program is the other major SBA program that's available. This one is used for real estate purchases and also for large equipment purchases. Again, it's a great program, 10 percent down, terms up to about 25 years. We can fix these loans. This one can go even higher than 5 million because it's only the SBA's portion that's limited to 5 million. TD can take a larger portion and we can do larger loans there. So this is also another great program that's available. And then next slide. I just want to show you a couple of the other products we also offer. CAP Lines are lines-of-credit, and these are lines where we lend to you based on your accounts receivables and your inventory. We advance 80 percent on your accounts receivable and 50 percent on your inventory. And Export Working Capital lines is the same concept, but this is now on your foreign receivables and on the inventory that you're shipping abroad.
NEESONS 416.413.7755 | www.neesonsreporting.com anything down -- or a debt refinance. This is really a good product for anybody looking for some financing. If we can go to the next slide. The 504 program is the other major SBA program that's available. This one is used for real estate purchases and also for large equipment purchases. Again, it's a great program, 10 percent down, terms up to about 25 years. We can fix these loans. This one can go even higher than 5 million because it's only the SBA's portion that's limited to 5 million. TD can take a larger portion and we can do larger loans there. So this is also another great program that's available. And then next slide. I just want to show you a couple of the other products we also offer. CAP Lines are lines-of-credit, and these are lines where we lend to you based on your accounts receivables and your inventory. We advance 80 percent on your accounts receivable and 50 percent on your inventory. And Export Working Capital lines is the same concept, but this is now on your foreign receivables and on the inventory that you're shipping abroad.
popular loans that we do a lot with. We do a lot of our small loans in this product. We can do lines-of-credit up to half a million through here. It's a little streamlined. The government lets us use your own documentation. So we do a lot of our small loans -- up to 350,000 will be done through this product. We actually have an online application that you can go on, up to 100,000. That can just be done online. The application can be put in an you would end up with an SBA Express Loan. That's what you would get there. The last product I want to mention is the USDA. It's actually not an SBA product. It's offered by the United States Department of Agriculture. But it's geared for people that are in rural areas, and they're looking for areas with populations less than 50,000. And when you go to the government site, they do have a place you can put in your address and you can see if you're eligible. But my recommendation is always reach out to us. There are little exceptions depending on what industry you're in where the population
