Compare Small Business Loans and Lines of Credit

Get information to help you choose the loan, line of credit or commercial mortgage that's right for your business.

Find the loan that's right for your business

Loan

Loan, line of credit and commercial mortgage comparison chart item 1
Best for	One-time financing: Equipment or vehicles Expansion or renovation Lump-sum working capital
Amounts available	$10,000 – $1,000,000¹
Rate type	Fixed
Standard terms	3 to 5 years amortization²
What you should know	Typically secured by equipment, inventory or cash Interest on loans may be deducted as a normal business operating expense for tax purposes³ Fixed monthly payments are automatically deducted from your checking account

Line of Credit

Loan, line of credit and commercial mortgage comparison chart item 2
Best for	Access to cash for business expenses: Rent Inventory Payroll Daily operations
Amounts available	$25,000 – $500,000¹
Rate type	Variable
Standard terms	On demand
What you should know	Typically secured by cash or accounts receivable Access your money by writing a check or transferring money online Your line of credit can be paid down and used again Monthly payments are automatically deducted from your checking account

Commercial Mortgage

Loan, line of credit and commercial mortgage comparison chart item 3
Best for	One-time financing: Real estate purchase Refinancing
Amounts available	Up to $1,000,000¹
Rate type	Fixed
Standard terms	5-year term, up to 20-year amortization
What you should know	Secured by real estate Interest on loans may be deducted as a normal business operating expense for tax purposes³ Fixed monthly payments are automatically deducted from your checking account

Loan, line of credit and commercial mortgage comparison chart
	Loan	Line of Credit	Commercial Mortgage
Best for	One-time financing: Equipment or vehicles Expansion or renovation Lump-sum working capital	Access to cash for business expenses: Rent Inventory Payroll Daily operations	One-time financing: Real estate purchase Refinancing
Amounts available	$10,000 – $1,000,000¹	$25,000 – $500,000¹	Up to $1,000,000¹
Rate type	Fixed	Variable	Fixed
Standard terms	3 to 5 years amortization²	On demand	5-year term, up to 20-year amortization
What you should know	Typically secured by equipment, inventory or cash Interest on loans may be deducted as a normal business operating expense for tax purposes³ Fixed monthly payments are automatically deducted from your checking account	Typically secured by cash or accounts receivable Access your money by writing a check or transferring money online Your line of credit can be paid down and used again Monthly payments are automatically deducted from your checking account	Secured by real estate Interest on loans may be deducted as a normal business operating expense for tax purposes³ Fixed monthly payments are automatically deducted from your checking account

Talk to an expert

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A small business specialist is ready to help.

Call 1-855-278-89881-855-278-8988
Mon-Fri, 8:30AM – 5:00PM ET

Apply online

The fastest way to apply for loans and lines of credit under $100,000

Apply in person

Under $100,000

Download your application (U.S. only) and bring it to any TD Bank

Over $100,000

Download your application (U.S. only) and bring it to any TD Bank

Important Disclosures

Online application is designed for lending needs up to $100,000. Excludes borrowing requests for total aggregate exposures more than $100,000, ACH Line, Letter of Credit, unsecured lending, and entities with more than ten owners. For borrowing requests in excess of $100,000 in total aggregate exposure, please call 1-855-278-89881-855-278-8988 to apply with a small business specialist. TD Bank's Online SB Loan Application is for borrowing needs with a total business aggregate loan exposure of $100,000 or less. If you have an existing TD Bank business lending relationship, your new loan request plus existing loan request must be $100,000 or less. For revolving products, such as a business credit card or lines of credit, we consider your total credit limit. For non-revolving products, such as a term loan or commercial mortgage, we consider your total current balances. To apply for a loan request of greater than $100,000, please use our paper application that can be downloaded here or requested at any TD Bank location. For more information, please contact a TD small business specialist.

Subject to credit approval.

Line of Credit is available for qualified applicants meeting the following conditions: with TD Business Checking account with $40,000 minimum balance and payments must be auto-deducted from TD Business Checking account. Other terms and conditions will apply, contact a small business specialist for more information. Rate is equal to Wall Street Journal (WSJ) Prime + 0.74%. As of September 26, 2018, WSJ Prime + 0.74% equals 5.99%. Rate is variable subject to changes to the WSJ Prime rate. Unsecured lines and increases/renewals to customers with existing lines not eligible.

¹Subject to credit approval. Contact your nearest TD Bank for rate and fee schedule.

²Other terms may be available.

³TD Bank, N.A. and its affiliates do not provide tax, legal, business or accounting advice. This information is provided for informational purposes only and is not intended to provide specific financial, investment, tax, legal, accounting, business or other advice and should not be acted or relied upon in that regard without seeking the advice of your own professionals who can help to ensure that your own circumstances have been properly considered and any action is taken on the latest available information.