Yesterday afternoon, TCF Bank unveiled its $1 billion loan commitment for minority- and women-owned small businesses. This announcement comes just a few months after the company pledged to take a stand in order to fight racism and social injustice.
With this initiative, TCF is delivering on its promise, as these loans will help ensure funding access to minority- and women-owned small businesses in largely minority communities.
On today’s WJR Business Beat, Jeff shares more about this exciting news:
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“This commitment from TCF Bank is an incredible opportunity for minority- and women-owned small business owners. You know what, it’s also a great lesson in practicing what you preach. And we thank Gary Torgo and his TCF leadership team for stepping up so dramatically with this initiative.”
– Jeff Sloan
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Good morning, Paul!
Yesterday afternoon, TCF Bank unveiled its $1 billion loan commitment for minority- and women-owned small businesses. This announcement comes just a few months after the company pledged to take a stand in order to fight racism and social injustice.
With this initiative, TCF is delivering on its promise, as these loans will help ensure funding access to minority- and women-owned small businesses in largely minority communities. The program will be focused within key markets including Detroit, Minneapolis/St. Paul, Chicago, Cleveland and Grand Rapids.
TCF executive chairman, Gary Torgow, has this to say in a press release:
“While small businesses drive the economy and are the backbone of our neighborhoods, minority-owned and women-owned small businesses have historically had a more difficult time obtaining loans than their white and male counterparts. We recognize the crucial need for change, and as a bank committed to strengthening individuals, businesses, and communities, we are inspired to help these business owners create wealth and pursue their dreams.”
This commitment from TCF Bank is an incredible opportunity for minority- and women-owned small business owners. You know what, it’s also a great lesson in practicing what you preach. And we thank Gary Torgo and his TCF leadership team for stepping up so dramatically with this initiative.
We’re incredibly proud of the work this Detroit-based bank is doing and hope to see more businesses taking actionable steps like this one taken by Gary and his team.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat, today brought to you by Dell Technologies, on the Great Voice of the Great Lakes, WJR.
