NYC-Based Hot Bread Kitchen​ Receives $1M Grant From TD Bank

NEW YORK CITY — A New York City-based nonprofit was one of four grant recipients to receive a $1 million award, officials told Patch.

Hot Bread Kitchen was one of the recipients of TD Bank's 2024 TD Ready Challenge, an annual initiative that supports nonprofit organizations to develop effective programs and solutions for communities.

This year's award focus was on innovative solutions to support underserved small business owners, officials told Patch.

Hot Bread Kitchen creates economic opportunity for vulnerable populations in New York City through food entrepreneurship programs and support from seasoned business advisors.

"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," a spokesperson told Patch.

Paige Carlson-Heim, U.S. Head of Social Impact for TD Bank, told Patch that small businesses "serve as the heart of our communities."

"But in a rapidly evolving economic landscape, they face a myriad of challenges to remain competitive and grow their businesses," she added. "Through the TD Ready Challenge, we are honored to play a role in supporting organizations that develop lasting solutions that empower entrepreneurs, strengthen our communities and create a more accessible landscape for underserved entrepreneurs. Their solutions have incredible potential, and I look forward to seeing their impact for years to come."

Here are the other recipients of the TD Bank's 2024 TD Ready Challenge:

• PA CDFI will support underserved entrepreneurs through technology, coaching, and other tools with an emphasis on access to capital and business growth.
• Tampa Bay Chamber Foundation will provide tailored, accelerator training programs and AI tools to help minority-owned small business owners create sustainable growth.
• Washington Area Community Investment Funds will collaborate with Building Bridges Across the River to provide coaching and financial services to local small businesses.