70 Supporting Economic Development in the U.S.

Every day, Accion East and Online empowers individuals and families with hope for their futures, thanks to the impact that a small loan can have on their businesses and lives.

Named one of CNN Money’s top 10 microlenders in America, Accion East and Online provides neces- sary lending and financial education opportunities to “microentrepreneurs” – owners of the smallest of businesses, typically those with fewer than five employees and capital needs ranging from $500 to $35,000. Many of the owners are minorities and women. Last year TD Bank, through the TD Charitable Foundation, made a three-year pledge of $500,000 to support and accelerate Accion’s microlending work from Maine to Florida.

Stepping stones to success

Microloans in the U.S. average $7,000. They serve as stepping stones to economic self-sufficiency: people can invest in, and grow, their companies and income-earning capacity. Complementing the loans, Accion provides financial coaching and tools to help people manage their microloan and build a business.

Helping accelerate economic recovery

Studies show that microfinance is a catalyst for economic development in underserved communities. Microfinance products often reach a segment of the U.S. population that is un- or underbanked or those whose financial needs aren’t met by traditional financial institutions.

By igniting ideas and empowering self-starters, Accion transforms neighborhoods and fuels the economy by driving job creation through a trickle-up approach. Our support of Accion – as well as many other microlenders throughout the U.S. – reflects TD’s belief that strong financial education and the best financing options to meet the needs of small, start-up businesses will ultimately help rebuild the American economy and create more jobs in our communities.

Strengthen Our Communities

Accion provided three loans to Niorca Mejia to support her small business, which provides tax preparation, family law filings and translation services to people seeking U.S. citizenship.

“We are grateful beyond words for the commit- ment this represents and the impact it will have on

entrepreneurs throughout the Atlantic Coast.” Paul Quintero, CEO of Accion East and Online

TD 2012 Corporate Responsibility Report