Communities around the state will benefit from a large infusion of capital for key, high-impact projects, thanks to an investment by TD Bank in the South Carolina Community Loan Fund.
The $750,000 investment in the fund – which can be used to leverage other investments — is a demonstration of TD’s commitment to the communities it serves, and to good business principles. The South Carolina Community Loan Fund will invest these funds in myriad projects around the state that provide housing, access to food and essential services, attract businesses, employ community members and stimulate the economy.
Scott Sharp, Regional Vice President for Charleston, says TD Bank is always looking for opportunities to reinvest in the community with the right partners. “South Carolina Community Loan Fund adds value to the community,” he said. “We were impressed with the business model they built and with the leadership of the organization.”
Through this investment, TD Bank receives Community Reinvestment Act credit, two-percent interest on its loan, and an opportunity to assist non-traditional borrowers who might not otherwise qualify for a loan.
“Because of its long involvement with SCCLF, including representation on our loan committee, TD Bank was well versed on the benefits of investing with us,” said Suzanne Lynch, SCCLF Chief Financial Officer. “We are pleased that they have decided to make an investment in our lending programs and look forward to continuing this partnership.”
For more information on the benefits and impact of investing in community through South Carolina Community Loan Fund visit https://sccommunityloanfund.org/invest/.