How to Get the Right Financing or Loan for Your Small Business
Whether you're starting a new business or growing your existing business, financing is likely an essential part of your business plan. The range of loan choices can seem bewildering, the questions endless, and not every option will make sense for your business. We're here to help you make an informed lending choice that can help take your business to the next level.
Sources of small business funding
Explore the pros and cons of various financing options available for your small business to find the one that best meets your needs.
Business loans from yourself, friends or family
Insight on keeping your business funding source close to home.
Getting a loan or credit from a bank
Learn about what banks can offer when it comes to business financing.
Raising money from investors or crowdfunding
Get better acquainted with how these business funding opportunities work.
Funding from grants, CDFIs and alternative lenders
Financing options to consider for business owners with no or poor credit.
Prepare for your business loan application
Set yourself up for a successful loan application and approval process with some advance preparation.
Get ready to apply for a business loan
These articles written by TD Small Business lending professionals can help you successfully prepare for lender meetings.
Tips for meeting with business lenders
Understanding your credit score
Your personal and business credit score can be crucial if you want to obtain financing, so it helps to prepare. Consider these two key factors:
Safeguard your information
Multiple inquiries to your credit report can impact your credit score. Provide personal information to trusted providers you can verify for yourself.
Your personal credit score may matter
If you have more than 10% ownership in the business, your personal credit will likely be reviewed as well in consideration for a small business loan.
Get more information on protecting your personal credit report and score and steps you can take to improve your credit score.
Explore TD small business solutions
Lines and loans are subject to credit approval. Some credit restrictions may apply. Other terms and conditions may apply.
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