Small Business Loans and Lines of Credit

 

 

Banking

Small Business Lines of Credit

Lines of credit are typically used for quick access to cash for business expenses like:

  • Rent
  • Inventory
  • Payroll
  • Daily operations

Small Business Loans and Commercial Mortgage

Loans are generally used to finance business purchases such as:

  • Equipment or vehicles (leasing also available)
  • Expansion or renovation
  • Lump-sum working capital
  • Real estate purchase or refinance

Small Business Lines of Credit

A TD line of credit offers your business financial flexibility as you manage cash flow. Not only is it easy to access on-demand, it can also be paid down and used again as your business grows and changes.

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  • Best for borrowing $25,000 to $500,000.1
    (Larger lines available for commercial-sized businesses)
  • Competitive variable interest rate
  • Access your money by writing a check or transferring money online
  • Monthly payments are automatically deducted from your small business checking account
  • Your line of credit can be paid down and used again
  • You may choose to make an interest-only payment
  • Flexible options available through the SBA

Small Business Loans and Commercial Mortgage

Ready to expand? Term loans allow you to finance expenses such as vehicles, equipment or a renovation. A commercial real estate mortgage is designed to help businesses invest in property. Both offer your business the security of a fixed rate and a predictable monthly payment.

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  • Business term loan amounts from $10,000 to $1,000,000 with 3 or 5 year terms1
  • Lease options also available for equipment purchase or refinancing from $5,000 to $1,000,0001
  • Commercial real estate loan amounts from $25,000 to $1,000,000 with terms up to 20 years1
  • Larger loans available for commercial-sized businesses
  • Interest on business loans may be deducted as a normal business operating expense for tax purposes2
  • A steady amortization schedule helps you budget your expenses - giving you a fixed monthly payment for a fixed number of years
  • Competitive fixed interest rate
  • Payments are automatically deducted from your checking account
  • Flexible options available through the SBA


Preserve capital and get the money you need expand your business. As a Preferred SBA Lender, TD Bank provides SBA qualified small business owners the capital they need to grow.

  • Longer-term financing
  • Minimal equity requirements
  • Capital preservation
  • Shorter turnaround times
  • Faster access to loan proceeds
Learn more about SBA loans

                      

Terms

SBA 7(a)
SBA 504
Conventional
Down payment
10%4
10%4
25%
Use of proceeds
  • Real estate purchase, refinance
  • Expansion
  • Acquisition
  • Partner buy-out
  • Equipment purchase
  • Franchise financing
  • Real estate purchase
  • Construction
  • Equipment purchase
  • Refinancing
Varies by lender
Loan amount Up to $5,000,000
  • 1st mortgage - no maximum loan amount
  • 2nd mortgage - maximum of $5MM-$5.5MM depending on industry
Varies by lender
Structure
  • 90% lender
  • 10% borrower
  • 90% lender (50% TD Bank, 40% SBA)
  • 10% borrower
  • 75% lender
  • 25% borrower
Term Up to 25 years Up to 20 years 5 - 10 years (typically)
Balloon No No (typically)5 Yes
Amortization Up to 25 years Up to 25 years 20 years (typically)
Fees
  • Based on project size
  • Can be financed
  • Based on project size
  • Can be financed
Varies by lender
Covenants No Yes (typically less than conventional) Yes
Why this loan? SBA 7(a) loan:

  • No balloon payments
  • Lower equity requirements
  • Longer-term financing
  • Improved cash flow

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SBA 504 loan:

  • Typically no balloon payments
  • Lower down payment
  • Longer-term financing
  • Project assets can be used as collateral

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