TD Bank

TD Bank's history in the United States traces back to the 2008 acquisition of Commerce Bancorp, though its Canadian parent company, Toronto-Dominion Bank, has roots extending to 1855. This combination of long-standing financial heritage and more recent expansion into the U.S. market has shaped TD Bank's distinctive approach to business banking. Following the Commerce Bancorp acquisition, TD Bank rapidly expanded its presence along the Eastern Seaboard through both organic growth and strategic acquisitions, developing a reputation as "America's Most Convenient Bank" based on its extended hours, including weekend service, and customer-centric approach. The bank's business banking division has evolved significantly over this period, developing specialized expertise in key industries prevalent in its geographic footprint, including healthcare, professional services, and commercial real estate. What distinguishes TD Bank's business banking origin story from many competitors is its deliberate strategy of blending the stability and resources of a major multinational financial institution with the personalized service and local market knowledge typically associated with community banks. This approach reflects TD's recognition that business banking customers often face a difficult choice between the sophisticated capabilities of large banks and the relationship-focused service of smaller institutions. By maintaining a network of business relationship managers embedded in local markets while providing access to the resources of a top-10 U.S. bank, TD has positioned itself as offering both the personalized guidance of a community bank and the comprehensive capabilities of a major financial institution.

What sets TD Bank apart in the business banking landscape is its distinctive combination of extended accessibility, sector specialization, and integrated cross-border capabilities. Unlike most traditional banks that maintain standard banking hours, TD operates with significantly extended hours including evenings and weekends at most locations, providing business owners with greater flexibility to conduct in-person banking outside traditional business hours—a particularly valuable feature for small business operators who often can't step away from their businesses during standard workdays. This convenience-focused approach extends to their digital platforms, which combine intuitive interfaces with robust cash management features that allow businesses to conduct complex operations remotely. Additionally, TD has developed specialized industry expertise and tailored financing solutions for sectors including healthcare, professional services, and commercial real estate, with dedicated relationship managers who understand the unique business models, cash flow patterns, and capital needs of these industries. This sector-specific knowledge allows TD to provide more nuanced guidance and customized financing structures compared to generalist business bankers. For businesses with cross-border operations between the U.S. and Canada, TD offers unique advantages through their integrated North American banking platform, providing streamlined treasury management, simplified cross-border payments, and coordinated relationship management across both countries—capabilities that are particularly valuable as supply chains and business operations increasingly span national boundaries. This combination of convenience, industry specialization, and cross-border integration creates a distinct value proposition for businesses seeking a banking partner that can accommodate their operational needs while providing sector-relevant expertise.

TD Bank offers a comprehensive suite of business financing solutions across multiple segments. Their Small Business offerings, designed for companies with under $1 million in annual revenue, include term loans from $10,000 to $1 million with terms ranging from 3-7 years, business lines of credit from $25,000 to $500,000, and SBA loans including 7(a), 504, and Express products ranging from $350,000 to $5 million. For Commercial clients with revenues between $1 million and $25 million, TD provides expanded options including term loans up to $10 million, lines of credit up to $5 million, equipment financing, and specialized real estate lending. Their Middle Market division serves larger businesses with revenues from $25 million to $500 million, offering highly customized financing structures, syndicated loans, and more complex treasury solutions. Businesses typically need at least two years of operating history for most standard products, with minimum credit score requirements varying by product but generally starting at 660 for small business loans and lines of credit. TD's application processes vary by product and business size: small business loans under $100,000 often feature streamlined online applications with decisions in 2-3 business days, while larger or more complex financings involve working directly with relationship managers and may require 2-4 weeks for full underwriting. What distinguishes TD's lending approach is their emphasis on relationship banking, with dedicated business bankers assigned even to relatively small clients, providing personalized guidance throughout the application process and ongoing relationship management. This approach extends to their underwriting philosophy, which considers qualitative factors like management experience and industry outlook alongside traditional financial metrics, allowing for more flexible decision-making than purely algorithm-driven lenders, particularly beneficial for businesses with complex financial structures or those in specialized industries where standard metrics may not fully reflect business health and potential.