TCF Capital Solutions Reviews - Financial Lender Pros & Cons
TCF Capital Solutions is a banking institute that was formed in 1923 in Wayzata, Minnesota and is currently headquartered in Detroit, Michigan. The company's current incarnation was formed by a merger in 2019 between the former TCF Capital Solutions and the Michigan-based Chemical Financial Corporation. TCF Capital Solutions partnered with Huntington in 2021 to create a regional bank in the United States that is better positioned to create value for its customers. The two companies share a common operating philosophy that focuses on the clients and communities.
TCF Capital Solutions offer a wide variety of hardware financing options to well-established businesses at reasonable interest rates.
- Multiple financing options are available
- High lending amounts
- Inexpensive rates
- Low down payment
- TCF Qualifications might be hard to meet
- Businesses must have a high credit score
- The website does not provide full information about financing options
TCF Capital Solutions offers multiple business financing options. The financing options are discussed below:
Asset-based lending is increasing a business’s borrowing ability by taking advantage of the value of your existing assets. Asset-backed loans serve as collateral for an enterprise's receivables, inventories, and capital assets. This financing option differs from other business value loans that depend mainly on a borrower's historical cash flows and financial statements, it does not require credit hsitory.
Asset-based loans can be used to finance day-to-day operations and the seasonality of the cash flow cycle. TCF Capital Solutions term loans are backed by capital assets such as machinery and equipment that can be used to finance the growth of the business or assist in financing an acquisition.
TCF Capital Solutions’s structured finance team specializes in providing the customer with personalized and tailored business credit solutions. It has a talented and experienced team divided into three distinct groups: Capital Funding, Business Credit, and Corporate Finance. These groups have a history of building long-term relationships with customers and are committed to helping them get the capital they need to advance the business quickly and with confidence. The customers may also access additional credit expertise with TCF Capital solutions including interest rate swaps, extended capacities in cash management, equipment leasing, wealth management, and more.
Small Business Loans & Lines Of Credit
TCF Capital Solutions offers a smart lending option that aligns with unique business requirements and helps the business grow. From SBA loans to equipment financing, mortgages finance, and working capital, TCF Capital Solutions offers loan expertise to help businesses with all financial problems.
TCF Capital Solutions offers business loans that can be used by business for several purposes such as dealing with everyday running expenses, including stocks, real property, and payroll.
Lines of credit:
The option of the working capital must be considered if a business wants to manage its cash flow or expand it. These renewable lines are available when the business needs short-term finance for a variety of events such as unforeseen expenses, expansion possibilities, or to pay any other operational expense.
Commercial real estate loans
TCF Capital Solutions is a leading commercial estate lender that combines the modern service of a local bank and the expertise of a regional expert to provide the best commercial loan to its customer. These loans can be used to buy a new property, expand the existing business or to renovate the property.
Small business admin (SBA) loans
TCF Capital solutions is a preferred SBA Lender and provide a range of lending programs, such as the Express, SBA 7a, and 504 loans, designed to help small businesses meet their goals in our communities.
TCF Capital solutions offer solutions tailored to the needs of municipal customers. By conducting a thorough examination of the customer banking needs, the firm can recommend financing solutions to assist the organization in managing its finances with maximum efficiency.
Whether a business wants to improve its liquidity, automate its everyday banking tasks, or improve the performance of the deposits, TCF Capital solutions have the solutions to help every business. TCF Capital Solutions works diligently to understand the business situation. At TCF Capital solutions, financing services are backed up by experienced accountants who guide the customer through the process and ensure all of the business objectives are achieved.
Equipment Financing & Leasing
TCF Capital Solutions has the expertise and a comprehensive suite of financing solutions to help their client’s businesses grow.
The professionals of TCF Capital Solutions will help customers with any financing service they want to avail whether it is a loan, lease, consumption financing product, or any other financing solution. These financing solutions are intended to minimize the business operating costs to drive growth and success.
Industries it serves
- Agriculture Equipment
- Automotive Service Equipment
- Business & Corporate Aviation
- Emergency Vehicles
- Environmental Services
- Fleet Vehicles
- Funeral Vehicles
- Inland & Offshore Marine
- Luxury Yacht
- Material Handling
- Shuttle & School Bus
- Sports & Recreation
- Tire Service
- Tow Recovery
- Transportation & Trucking
TCF Capital Solutions prefers to do business with established companies that have a decent credit score. Although minimum income guidelines are not available, TCF Capital Solutions will ask the business to demonstrate that they are capable of making monthly payments. The firm has outlined some requirements to qualify:
- Business must be for at least 5 years in the market.
- The credit score of the business must be 700+.
- The business must show a proven record of income
Terms and conditions
A business can get an amount starting from $25,000. The term length of the lease plan can vary by equipment and industry. The interest rate lies between 5.5 to 7%. Loans almost cover 80% of the cost.
The final verdict
TCF Capital Solution is a good solution for businesses that are seeking a stable and more traditional lender to meet their capital financing needs. With decent customer service, multi-purpose options, and reasonably priced interest rates, eligible businesses are expected to find a lot at TCF Capital solution. It is difficult for start-up businesses to qualify for TCF Capital solution loans.