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TD Small Business Loan
Loan Amount
Min. $1,000 (no max.)
Loan Term
1 to 5 years
All information about TD Small Business Loan has been collected independently by Finder. Finder is not connected with TD products, and this page is not sponsored, endorsed or administered by, or associated with, TD. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Get the money you need to finance your business assets when you sign up for a TD business loan. 

TD Bank provides small business financing across Canada, with either fixed or floating interest rates. Floating rates are based on TD's prime rate while fixed rates are set over 1 to 5 years with an amortization schedule of up to 30 years.

Think about TD if you want to be backed by a Big Five Canadian bank, and you would prefer a flexible repayment schedule for your loan. However, pick something else if you have bad credit or you don't want to put up an asset to secure your loan.


  • Flexible business financing options
  • Reputable lender


  • Strict eligibility criteria
  • You may not qualify with bad credit

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How it works

TD Bank is one of Canada’s biggest and most reputable banks. It provides small business financing to customers across Canada, with either fixed or floating interest rates. Floating rates are based on TD‘s prime rate while fixed rates are set over 1 to 5 years with an amortization schedule of up to 30 years.

The downside of TD small business loans is that you’ll only be able to use the money you borrow to finance fixed assets (such as equipment or vehicles). You’ll also need to go into a branch to sign up for a loan since there’s no online application.

First, do I qualify?

To be eligible for a TD Small Business Loan, your business must be a sole proprietorship, partnership or corporation that’s based in Canada. You’ll also need to show that you earn enough money to be able to pay your loan back on time.

You’ll typically need to put up an asset to secure your loan, though what’s required will need to be discussed in more detail with your TD lending specialist. There could also be additional requirements that you have to fulfill based on the amount you plan to borrow and how you intend to use your funds.

What is a TD small business loan?

TD Small Business Loan function just like any loan you might borrow for personal use. You’ll have to decide if you want a fixed or variable interest rate on your loan and then agree to make repayments on any amount you borrow according to a set schedule.

TD Small Business Loan come with terms that can last anywhere from one to five years, and you can only borrow money in Canadian dollars. You can also repay your loan early in some cases, depending on your circumstances.

What makes TD Small Business Loan unique?

TD Small Business Loan are unique because they’re financed by a big Canadian bank. This means that the level of support and customer service you’ll receive will be difficult to beat. As a big bank, TD is also well-versed in dealing with unique financial situations that require more flexible financing options. This can include offering easy prepayment options and customized loan products that are designed to fit your business needs.

What are the benefits of a TD Small Business Loan?

  • Flexible repayment options. You may be able to defer your payments or pay your loan off early, depending on your personal circumstances.
  • Fixed or variable interest rates. You can choose to pay your loan back with a fixed or floating interest rate, which will allow you to budget accordingly.
  • Easy prepayment. You’ll be able to prepay your loan without penalty if you have a floating rate or a prepayment of up to 10% per year if you have a fixed rate.
  • Long amortization periods. You may be able to pay your loan back over a period of 30 years or for as long as the asset you purchased is still functional.

What to watch out for

  • No online application. You’ll have to go into the bank to apply for a loan and negotiate the terms of your contract.
  • Financing reserved for assets. You can only use the money you borrow to pay for equipment or other assets for your business.
  • Interest rates not listed online. You won’t know how much you’ll have to pay until you go into TD Bank in person to speak to an agent.
  • Loan may need to be secured. You may need to put up your home, vehicle or business assets to secure financing.

Compare other business loans

1 - 3 of 3
Name Product APR Range Loan Amount Loan Term Minimum Revenue Minimum Time in Business Loans Offered Broker Compliance
Journey Capital Business Loan
8.00% – 29.00%
$5,000 - $300,000
6 - 18 months
6+ months
Term Loan, Line of Credit, Merchant Cash Advance
To be eligible, you must have been in business for at least 6 months with a minimum annual gross revenue of $100,000.

Journey Capital offers fast and simple financing. Apply in less than 10 minutes with your basic business information and see your loan offers without hurting your credit score. Get approved within 1 business day, and choose your term, amount and payback schedule once approved.
Merchant Growth Business Loan
12.99% - 39.99%
$5,000 - $800,000
6 - 24 months
$10,000 /month
6 months
Unsecured Term, Line of Credit, Merchant Cash Advance
To be eligible, you must have been in business for at least 6 months and have a minimum of $10,000 in monthly sales.

Merchant Growth offers financing tailored to business needs. It specializes in providing capital based on future cash flows, but it also offers fixed solutions. Fill out an application within 5 minutes and get your funds within 24 hours.
Loans Canada Business Loan
6.60% - 29.00%
$4,000 - $500,000
3 - 60 months
over $10,000/month
100 days
Unsecured Term
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
To be eligible, you must have been in business for at least 100 days, have a Canadian business bank account and show a minimum of $10,000 in monthly deposits ($120,000/year).

Loans Canada connects Canadian small business owners to lenders offering financing up to $500,000. Complete one simple online application and get matched with your loan options.

How much will my loan cost me?

Your loan will likely cost you different amounts based on what type of loan you take out and on whether you choose a fixed or floating interest rate. It will also depend on personal variables such as your credit score and the term of your loan.

That said, there’s very little information online about what TD‘s interest rates might be. The best way to find out how much you’ll need to pay for a TD Small Business Loan will be to go into a branch to speak to an agent about your financial situation and lending requirements.

Applicable fees

You’ll need to pay applicable interest rates on your loan or line of credit, which should be outlined in your loan agreement. You may also need to pay admin fees to help cover the behind-the-scenes time that the bank has to spend setting up your loan.

That said, these fees aren’t outlined transparently on the website, so you should be sure to ask about them over the phone or at a branch to find out more about how much you might have to pay to get the ball rolling.

How do I apply?

If you want to apply for a loan with TD, you’ll need to make an appointment to speak with a TD representative at a physical branch. You’ll typically be required to submit documents to show how much annual and monthly revenue you make. You may also need to demonstrate that the assets you plan to purchase will be used in your business.

What happens after I apply?

TD will review your application and make a decision. Since it doesn’t accept online applications, it may take multiple weeks for TD to fully process your information.

Is TD legit?

TD is one of the Big Five banks in Canada and is well-respected as a small business lender. It has many safeguards in place to protect your personal information and uses advanced technology to protect your account from unauthorized transactions.

I got the loan. Now what?

Your repayment options should be outlined in your loan contract when you apply. You’ll typically be able to pick a term between one and five years to make repayments. You might also be eligible to prepay your loan early without penalty if you’re interested in wiping out your debt as quickly as possible.

Once you decide on how long you want to take your loan out for, you’ll make your repayments using automatic withdrawals from your bank account. You should be sure to factor your interest rates and additional fees into your total amount to make sure you can budget appropriately.

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