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TD Bank isn’t quite as famous as other large bank chains, but it is the 9th biggest bank in the country. It’s based in Toronto, Canada, but it has branches in all the states and in Washington, D.C. It is still one of America’s best banks for small businesses.
Checking Account Options for Business
There is a selection of business accounts that you can open with TD Bank. All of these (except one) allow you to waive some of your account fees each month. There are three different TD Bank business checking accounts that offer access for people to go to their accounts through the Internet, a smartphone or a tablet and to conduct transactions via wire transfers, credit cards and PayPal. Customer care agents can assist you 24/7.
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- TD Business Simple Checking. Fee maintenance for $10/month, the fee waiver requirements are unavailable for this account type, transaction limits 200/month, opening deposit minimum $25.
- TD Business Convenience Checking Plus. Fee maintenance for $25/month, the fee waiver requirements are $1,500 in (combined) accounts, transaction limits 500/month, opening deposit minimum $100.
- TD Business Premier Checking. Fee maintenance for $30/month, the fee waiver requirements are $40,000 in combined accounts, transaction limits 500/month, opening deposit minimum $200.
Lending for Small Business
TD Bank is unique amongst its other competitors in that they give small business loans to people who have good credit records.
Credit Lines
TD gives businesses the flexibility to pay cash on demand, as a result of the revolving credit line that enables them to pay for things that need to be done quickly. Things that you can do to pay your bills as quickly as possible. There are many kinds of expenses that a small business will need to pay in order to be able to operate. Some examples of such expenses are paying employees and paying rent. It takes time for businesses to get established before they can pay their bills. TD Bank will lend money to businesses for as little as $25,000 up to $500,000, and they will do so at a very attractive interest rate.
Loan for Small Business
TD Bank also provides one-off business loans to help entrepreneurs restructure their businesses. Most loans are used to buy capital assets, like purchasing new equipment or building a new office. These loan amounts are usually from $10 to $1,000,000, and are repaid in three to five years.
Commercial Real Estate
What makes TC Bank different from other banks is its extraordinary reputation for providing loans and mortgages for businesses that invest in property. TD Bank helps commercial real estate borrowers find the best possible lending options that will enable them to make purchases of commercial property. It could pay for a large amount of property that has previously been financed, or it could provide enough money to enable borrowers to refinancialize existing mortgages. Some lenders will grant a loan to an investor for amounts ranging from $25,000-$1,000,000, which can be paid back over a period of years.
Mobile Banking
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The TD Bank mobile app gives customers easy access to all their accounts by simply accessing their phones or tablets. Customers view account balance information, pay bills, and move money easily from one bank account to another. They can even deposit checks using mobile banking apps on iPhone or Android. It allows customers access to all of TD Bank’s online banking services at any time and from any location, and it does this in real time. People don’t need to sit and wait for a few days to see their account balances; their money is available online instantly! This was extremely useful, and also surprising because most banks don’t offer this service.
TD Bank can even tell you where the closest ATM is and how to get there! This feature was very useful when the phone battery was low, and you may not want to open a completely different app to do what you wanted to do.
TD Bank also has such strong security features. They secure their websites and apps using encryption, two-factor authentication and firewalls. They have strict security policies and procedures in place for all employees. They continually check and revise their security policies and procedures on their websites and apps. Security threats are becoming increasingly important, and I really like having the peace of mind that my information is protected.
Size Doesn’t Matter
It’s not like the other big banks that you see on billboards, but it is nice to have the option of choosing a small bank.
It provides plenty of important consumer services, like resources and tax information, credit information and travel advice. But if you visit their website again, you’ll see that they offer much more than that. They also provide great customer service and provide great products and services to businesses. TD Bank has great business lending programs and is known for its excellent customer service. They offer various financial planning tools that can help you and your business get started.
There is even a guide on their website about how you should build your business. They provide several tools that will help you plan your business, like a site that will give you easy ways to find out the cost of starting a new business. They provide business training videos as well. TD Bank has a terrific reputation when it comes to small businesses lending money to them, and also seems to have mastered the fundamentals of helping start up businesses be successful.
It can be very difficult to choose a banking institution that will affect your whole long-term finances, but TD Bank has some amazing lending products and services available. You could even take a look at TD Bank if you are looking for a small business loan.
