TD Bank offers small-business loans in 15 states and Washington, D.C. Several loan options are available, including term loans, lines of credit, commercial mortgages and Small Business Administration loans.
- TD Bank has several loan options from which to choose.
- Term loans of up to $1 million are available.
- TD Bank does not operate nationwide.
- TD Bank does not disclose much information until a business submits an application.
- Lines of credit
- Term loans
- Commercial mortgages
- SBA Express loans
- SBA 7(a) loans
- SBA 504 loans
- U.S. Department of Agriculture loans
Lines of credit are available from $25,000 to $500,000. Term loans range from $10,000 to $1 million, not including SBA products. Terms vary by loan product. TD Bank does not disclose its origination fees.
TD Bank does not disclose standards for minimum years in business, minimum credit score, minimum annual revenue or the availability of prequalification. Collateral requirements vary by product.
TD Bank lines of credit can be approved within 48 hours. Estimated disbursement time is not disclosed.
TD Bank has an A+ rating with the Better Business Bureau and a poor rating with Trustpilot.
The Consumer Financial Protection Bureau received no business loan complaints about TD Bank in 2017.
- Small businesses that want to choose from multiple loan options
- Small businesses that are confident in their ability to be approved for a business loan
- Small businesses that are in one of the states TD Bank serves
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