2024 TD Ready Challenge awards $10 million to 10 Canadian and U.S. organizations focused on addressing barriers faced by small business owners  

This year's recipients will each receive a $1 million grant for innovative solutions that support underserved small business owners to develop, launch, or grow their businesses  

TORONTO, March 19, 2025 /CNW/ - TD Bank Group (TD) is pleased to announce the 10 grant recipients of the 2024 TD Ready Challenge, an annual initiative that supports nonprofit and charitable organizations that develop innovative, impactful, and measurable solutions.   

In 2024, the TD Ready Challenge invited organizations to submit proposals designed to remove barriers for underserved entrepreneurs. Through these grants, the Bank aims to contribute to a stronger and more inclusive small business environment in Canada and the U.S.  

"When small businesses thrive, communities thrive," says Ellen Glaessner, Head of Sustainability and Corporate Citizenship. "This is why TD is supporting nonprofit organizations who help cultivate the entrepreneurial landscape. Support is especially vital for underserved entrepreneurs, who face unique challenges and are an important part of the small business ecosystem. The proposed solutions have incredible potential to make a real difference, and we can't wait to see the impact they will help drive."  

The TD Ready Challenge Grant program is part of the Bank's longstanding commitment to help the communities we serve prosper. Each year, the program puts out a call for organizations in Canada and the U.S. to submit applications that offer solutions to a different problem statement. In previous years, the program has focused on helping to address barriers to affordable housing, health care and income stability, and addressing pandemic-related learning loss.   

The 2024 TD Ready Challenge complements the Bank's efforts to support financial security and aligns with TD Pathways to Economic Inclusion and the TD Community Impact Plan in the U.S.  

There were a maximum of 10 grants available through the program in 2024. Eligible Canadian-based organizations were able to apply for CAD $1 million and eligible U.S.-based organizations were able to apply for USD $1 million.  

For more information about the TD Ready Challenge Grant program, visit www.td.com/readychallenge 

Learn more about the 2024 TD Ready Challenge recipients and their winning submissions, described in their own words.  

CAD $1 million / USD $1 million recipients and programs:  

Ampere (formerly The Pinnguaq Association) | Amp up small business (Canada)   
"Amp Up Small Business will support low-income future entrepreneurs in underserved rural, remote, and Indigenous communities in Northern Canada, providing training and resources to develop, launch, and grow small businesses. Some participants will be selected for Amp Incubator, receiving support and financial investment in exchange for a percentage of revenue to be reinvested in Amp Up programming." 
Learn more about this program 
URL: https://amp.ca/ampere-and-the-td-ready-challenge/ 

Hot Bread Kitchen | HBK Incubates: Building financial security for immigrant and women of color small food business owners in New York City (U.S.)   
"The HBK Incubates program provides holistic and coordinated support services for low- to moderate-income women of color in New York City to seed, start and scale their food businesses." 
Learn more about this program  
URL https://www.hotbreadkitchen.org  

Futurpreneur | Women in Entrepreneurship Initiative (Canada) 
"Futurpreneur's Women in Entrepreneurship Initiative supports women-owned and women-led businesses through networking events, a peer-supported community, and tailored capacity-building workshops. Participants will gain critical skills for business growth in topics like financial management, marketing, access to capital, and international expansion, with access to coaching and resources through in-person and virtual connection opportunities." 
Learn more about this program 
URL: https://futurpreneur.ca/en/offering/women-in-entrepreneurship 

PA CDFI Network | Drive Your Business (U.S.)   
"PA CDFI Network's Drive Your Business program will help address gaps in services and reduce barriers faced by underserved entrepreneurs by combining technology, education, coaching and community collaboration." 
Learn more about this program  
URL https://pacdfinetwork.org/  

Tamarack Institute for Community Engagement and Small Economy Works| Initiating Futures: Advancing rural, remote, and northern entrepreneurs (Canada)   
"Tamarack Institute and Small Economy Works are working together to engage 300 entrepreneurs with practical and contextualized training to grow and develop their businesses.  Through local community collaboratives and AI-powered learning, the program delivers personalized coaching and group learning opportunities designed specifically to support aspiring populations such as Indigenous women, rural, remote, and northern entrepreneurs."  
Learn more about this program  
URL: https://www.smalleconomyworks.com/the-initiate-program  

Washington Area Community Investment Fund (WACIF)| Resilient Futures: Small Business Financial Wellness and Wealth Building Program (U.S.)   
"By combining an innovative financial product with specialized support for entrepreneurs that's sensitive to difficult financial situations, WACIF will be providing a first-of-its-kind initiative in the Washington, D.C., area." 
Learn more about this program  
URL https://wacif.org/  

University of British Columbia | UBC Sauder School of Business Ch'nook Management Program: Increasing Access to Economic Opportunities through Business Education, Entrepreneurship and Small Business Skills (Canada)   
"The Ch'nook Management Program empowers Indigenous entrepreneurs and small business owners with business education, skills, and resources to succeed. UBC Sauder faculty integrate business knowledge and management training with Indigenous perspectives to create a culturally relevant learning experience, culminating in participants presenting their projects or ventures at the program's end." 
Learn more about this program  
URL: https://www.sauder.ubc.ca/chnook/cmp  

Tampa Bay Chamber Foundation | Empower Sustainability Focused Accelerator (SFA) (U.S.)   
"To help enable continued growth for small minority-owned businesses, Tampa Bay Chamber Foundation's Empower Sustainability Focused Accelerator program will use an innovative approach to strategic planning and execution, and leverage automation tools." 
Learn more about this program  
URL https://www.tampabaychamber.com/    

Syrian Canadian Foundation (SCF) | Newcomer Entrepreneur Women (N.E.W) Venture (Canada)    
"The N.E.W Venture program, in partnership with the NISA Foundation, is committed to advancing economic independence and social inclusion through entrepreneurship training and skills development for newcomer and refugee women in Ontario and Quebec, with a particular focus on women who are victims of gender-based violence." 
Learn more about this program  
URL: https://syriancanadianfoundation.ca/  

Toronto Arts Foundation | Newcomer Artist Program (Canada)   
"The Newcomer Artist Program expansion empowers newcomer artists through mentorship, education, and work-integrated learning. Over three years, annual cohorts of 25 newcomer artists will gain entrepreneurship skills, paid work experience, and access to industry networks, contributing to their economic independence, personal and professional fulfillment, social integration, and long-term success." 
Learn more about this program  
URL: https://torontoartsfoundation.org/home  

About The TD Ready Commitment  
TD has a long-standing commitment to deliver on its purpose to enrich the lives of its customers, colleagues, and communities. As part of its corporate citizenship platform, the TD Ready Commitment, TD is targeting C$1 billion by 2030 towards community giving and colleague engagement in four areas that we call the Interconnected Drivers of Change: Financial Security, Vibrant Planet, Connected Communities and Better Health. Through the TD Ready Commitment, TD aspires to work with non-profit and community-based organizations to help make a positive impact for the customers and communities we serve.   

For further information, visit td.com/tdreadycommitment

About TD Bank Group  
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.9 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 17 million active online and mobile customers. TD had $2.09 trillion in assets on January 31, 2025. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.  

SOURCE TD Bank Group