TD Bank, NA. Small Business Loans

Starting or maintaining a small business is no easy task, as there is a constant need for finances. Businesses use those finances to pay off their debts, invest in inventory, purchase real estate or expand their business. However, on most occasions, businesses are short on funds and are trying to get a loan that matches their needs.

Many banks have recently stepped up their small business loan programs and are also affiliated with SBA. TD Bank, NA, offers a wide variety of SBA loans and other small business loans, and they have been discussed below.

4. SBA 7(a) Loan Program

Purpose

Total Amount of Loan

5 million dollars

Structure of the Loan

Down Payment

10 %

Balloon

No

Term

25 years

Amortization

25 years

Loan Benefits

5. SBA 7(a) Loan Program

Purpose

Total Amount of Loan

Structure of the Loan

Down Payment

10 %

Balloon

No

Term

20 years

Amortization

25 years

Loan Benefits

6. Average Conventional Loan

Purpose

Varies by Lender

Total Amount of Loan

Varies by Lender

Structure of the Loan

Down Payment

25 %

Balloon

yes

Term

5 to 10 years

Amortization

20 years

Loan Benefits

Low-interest rates

7. SBA Express Loan

Purpose

Loan response is generally less than 48 hours, and the turnaround time is accelerated.

Total Amount of Loan

350,000

Amortization

Fully amortized for 25 years

Advanced Rate

Interest Rates

Fixed and Variable

Term

25 years

Loan Benefits

To maximize the performance of the business

8. USDA Loan

Purpose

The USDA loan is designed to help rural communities develop businesses.

Total Amount of Loan

25,000,000 dollars

Amortization

Fully amortized for 30 years

Collateral

Must be able to protect the interest of the lender

Interest Rates

Fixed and Variable

Term

30 years

Loan Benefits

The loan can be used for purchasing inventory, refinancing growth, and debts.

9. Lines of Credit

Access to cash for small businesses to pay off expenses, debts, and inventory.

Features

10.Business Loan

Pay off purchases such as vehicles, inventory, and equipment over time

Features

Types of Loans offered by TD Bank, NA.

Below we have discussed all the business-related loans offered by TD Bank, NA.

1. SBA 7(a) Loan Program

Purpose

Loan Benefits

2. SBA 504 Loan Program

Purpose

Loan Benefits

3. Average Conventional Loan

Purpose

Varies by Lender

Loan Benefits

Low-interest rates

4. SBA Express Loan

Purpose

Loan response is generally less than 48 hours, and the turnaround time is accelerated.

Loan Benefits

To maximize the performance of the business

5. USDA Loan

Purpose

The USDA loan is designed to help rural communities develop businesses.

Loan Benefits

The loan can be used for purchasing inventory, refinancing growth, and debts.

6. Lines of Credit

Access to cash for small businesses to pay off expenses, debts, and inventory.

Loan Benefits

7. Business Loan

Pay off purchases such as vehicles, inventory, and equipment over time

Loan Benefits

TD Bank, NA. Interests, Fees, and Loan Options

1. SBA 7(a) Loan Program

2. SBA 504 Loan Program

3. Average Conventional Loan

4. SBA Express Loan

5. USDA Loan

6. Lines of Credit

7. Business Loan

What Lending Criteria does TD Bank, NA. Have?

The lending criteria for most loans is the same, and we have discussed it below:

However, for SBA loans, an additional criterion needs to follow:

TD Bank, NA. Application

The following is the general process of loan application that is followed:

For more information, please log onto the website of TD Bank, NA. Click here.

Summary of TD Bank, NA. Loan Options

In this article, we have discussed many different loans offered by TD Banks, N.A. These loans offer flexibility to the businesses; as they come with flexible terms, lower down payments, and interest rates. These are the loans that we have discussed:

SBA 7(a) Loan Program

Purpose

SBA 504 Loan Program

Purpose

Average Conventional Loan

Purpose

Varies by Lender

SBA Express Loan

Purpose

Loan response is generally less than 48 hours, and the turnaround time is accelerated.

USDA Loan

Purpose

The USDA loan is designed to help rural communities develop businesses.

Lines of Credit

Purpose

Access to cash for small businesses to pay off expenses, debts, and inventory.

Business Loan

Pay off purchases such as vehicles, inventory, and equipment over time.

Each of these loans come with several benefits, and are designed for a specific need. While most banks, especially the big ones, are reluctant to lend loans to small businesses, TD Bank, NA, is willing to take that initiative. However, before you sign up for the loan, please contact the bank and gather more information.

The bank's application process is quite lengthy, and it will require all the necessary details of your business. So make sure that you prepare all the documents properly. If any documents are missing, please contact the concerned authority or notify the bank or lender.

For more information regarding loans, learn more.