TD Bank announced this week that it would be expanding its small business teams in several key markets, including Massachusetts and Connecticut.
The new small business specialists will focus on serving the lending and account needs of businesses with less than $1 million in annual revenue and fewer than nine employees. The bank said it plans to add six of these positions in Massachusetts and Connecticut, but did not detail precisely how that would break down. TD Bank is also adding more small business specialists in New York City, Philadelphia, New Jersey, metro Washington, D.C., South Carolina and Florida.
“Small businesses are incredibly important drivers of local economies and TD Bank is expanding its team to become better small business champions,” Jay DesMarteau, head of small business banking, said in a statement. “As a bank, we’re invested in making a positive impact in the communities we serve, and enhancing how we help local small businesses is an important component of this.”
The bank also said in the same announcement that it would be focusing on growing its Small Business Administration (SBA) lending. According to the SBA, TD Bank made 228 SBA loans totaling a little over $34 million in the first quarter so far.