The specs
CrediblyTD Bank Business Loan
Product typeMulti-productMulti-product
Amount range$5K – $600K$10K – $100K (TD Bank Small Business Loan / Express); $25K – $1M (term + LOC); $250K – $5M (SBA 7(a))
Cost (factor / APR)Factor 1.11+ (MCA); APR varies (term)APR 7.5% – 14% (term + LOC, relationship-priced); SBA Prime + 2.25 – 2.75%
Speed to fundAs fast as 4 hours3 – 7 business days (Express ≤ $100K, existing customers); 7 – 14 business days (term + LOC); 30 – 60 days (SBA — TD is PLP)
Min time in business6 months24 months
Min monthly revenue$15,000$15,000+/mo typical for unsecured products
Min credit score550+680+
Products
- MCA
- Working capital LOC
- Short-term term loan
- TD Small Business Loan
- Business term loans
- Business LOC
- SBA 7(a)
- SBA 504
- Equipment financing
- Commercial real estate
Verdicts by use case
- Established East Coast TD depositor with 24+ months TIB and 680+ FICO — Winner: TD Bank Business Loan. As of 2026-06-28 TD Business Loan products at 8.5 – 12.5% APR relationship-priced materially undercut Credibly's MCA factor 1.11 – 1.40 (effective APR 22 – 80%). For TD depositors in the core I-95 corridor footprint with multi-year deposit-relationship history the RM can advocate pricing at the lower end of the relationship-priced range, and TD's Express channel adds 3 – 7 day decisioning for sub-$100K needs. TD is structurally cheaper across most qualifying quotes.
- Newer business under 24 months TIB — Winner: Credibly. TD's 24+ months TIB floor is firm even for existing depositors. Credibly's 6-month TIB floor is reachable for genuinely new operators. For merchants between 6 and 24 months trading history Credibly is the only structural option in this pair.
- Need cash this week — Winner: Credibly. Credibly funds in as fast as 4 hours via the API V2 + Cloudsquare flow. TD's fastest channel (Express for sub-$100K needs for existing depositors) decisions in 3 – 7 business days with funding 1 – 2 business days after approval — total timeline 5 – 9 business days. For genuine same-week capital needs Credibly is materially faster. For 7 – 10 day timelines on sub-$100K needs the TD Express channel is competitive and meaningfully cheaper.
- Sub-680 FICO merchant — Winner: Credibly. TD's 680+ FICO floor is firm and the bank operates conservative credit-box discipline (particularly post-2024 AML enforcement actions which tightened approval standards across the U.S. commercial banking platform). Credibly accepts 550+ FICO with B/C-paper pricing adjustments. For merchants with personal FICO between 550 and 679 Credibly is the only structural option in this pair.
- SBA 7(a) deal in $250K – $2M range with patient timeline — Winner: TD Bank Business Loan. TD as a top-10 SBA 7(a) lender with Preferred Lender Program (PLP) authority originates SBA loans up to $5M at Prime + 2.25 – 2.75% on a compressed 30 – 60 day timeline (vs 45 – 90 days for non-PLP banks). By far the cheapest cost of capital available for SMB borrowers, and TD's PLP status materially reduces the timeline disadvantage vs non-bank alternatives. Credibly caps at $600K MCA and doesn't offer SBA paths. For qualifying SBA-eligible deals in TD's East Coast footprint TD is structurally the strongest option in this pair.
The honest takeaway
Credibly and TD Bank Business Loan solve overlapping but distinct problems. The right choice depends on three things you already know about your business: how fast you need the money, how long you've been operating, and whether the capital need is one-time or recurring.
Frequently asked questions
- I run a Boston or Miami business with a TD Bank checking relationship — should I apply with TD or Credibly?
- Apply with TD first if you meet the credit box: 24+ months TIB, 680+ FICO, $15K+/mo revenue. Your existing TD Business Banking deposit relationship is a meaningful pricing input — multi-year tenure at the same branch with the same RM unlocks relationship-priced APR at the lower end of the 7.5 – 14% range. TD's Express channel decisions sub-$100K files in 3 – 7 business days at a fraction of Credibly's cost. TD is structurally cheaper than any Credibly quote for qualifying borrowers. The bonus for TD: 'America's Most Convenient Bank' positioning means branches keep longer hours (often 7-day operation in flagship locations) which materially improves access if you need in-person RM time. Reserve Credibly for: (1) capital needs you cannot wait 7 – 10 days for, (2) amounts exceeding what TD Express approves quickly, or (3) files where your FICO is below 680. Walk into your TD branch in person and ask for the Small Business Banker — TD has invested in dedicated SMB banker roles at most flagship branches.
- Has TD Bank's 2024 anti-money-laundering enforcement action affected SMB lending availability?
- Yes, modestly, and the practical effects matter for planning. In October 2024 TD Bank, N.A. and its parent Toronto-Dominion Bank settled U.S. anti-money-laundering enforcement actions with DOJ, FinCEN, and OCC, paying ~$3B in penalties and agreeing to a U.S. asset cap that constrains TD's U.S. balance sheet growth. Practical effects for SMB borrowers in 2026: (1) the asset cap has tightened TD's overall U.S. commercial lending capacity, leading to more conservative credit-box discipline particularly on borderline files and on larger commercial real estate deals, (2) some commercial relationship managers have been redeployed to compliance functions, which has thinned RM coverage in some markets — call ahead to confirm an in-person SMB banker is available before driving to a branch, (3) SBA 7(a) volume remains strong (TD's PLP status and dedicated SBA team weren't affected), and (4) standard sub-$1M business term + LOC origination remains competitive. For qualifying borrowers TD is still structurally one of the best East Coast options; for borderline or large commercial real estate files merchants may need to broaden their bank shopping to include Truist, M&T, or PNC alongside TD.
- Should I refinance an active Credibly MCA into TD Bank once I qualify?
- Yes, if you're in the East Coast footprint and the math works. A Credibly MCA at factor 1.25 with 8 months remaining carries an APR-equivalent of 35 – 50%. Refinancing into a TD relationship-priced Business Term Loan at 9 – 12% APR over 36 – 60 months saves materially on cost-of-capital. For sub-$100K refinances the TD Express channel can compress the refinance timeline to 5 – 9 business days, which moderates carrying cost of the residual MCA balance. TD will pull business credit, see the active Credibly debt, and underwrite the refinance as debt consolidation — disclose proactively. For larger SBA-eligible refinances ($250K+) TD's PLP-authority SBA 7(a) channel can absorb the existing Credibly balance into a 10-year amortization at Prime + 2.5% on a compressed 30 – 60 day timeline (faster than most regional SBA channels). The qualifying bar is the standard TD credit box (680+ FICO, 24+ months TIB, $15K+/mo revenue, TD deposit relationship preferred).