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.

Documents you'll need to apply

Get prepared for your business loan application with the info and documents you'll need.
The business loan review process

Understand how a bank will review your loan request and the importance of the 5 C's of credit.
Polish your business plan

Lenders will likely ask for your business plan, so be sure to update your current plan or create one using our template.

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

Ask questions and take notes

Keep a notebook to take notes so you can compare your financing options and easily follow up.
Don't pressure yourself

If someone is being pushy, counter with "I'd like to review all of my options and then follow up with you." Apply only when you feel comfortable.
Avoid scams

Research the lender in advance and keep in mind there are typically no up-front application fees for a business loan.

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

Small Business Loans and Lines of Credit

Manage daily cash flow, make capital expenditures or invest in real estate with a loan or line of credit

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Small Business Administration (SBA) Loans

Enjoy flexible terms and preserve capital with an SBA loan from TD Bank, a Preferred SBA Lender

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TD Business Solutions Credit Card

Earn up to 2% Cash Back Rewards on everyday business purchases

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Business Valuation

A business valuation can help you make better decisions and plan for what's next for your company

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