Experience with Small Business Loan with TD Bank

[clutch]

I am planning on applying for a Small Business Loan from TD Canada Trust.

Currently, my partners and I are hoping on getting 150K. We have a business plan completed and working on securing the 25% personal guarantee. Our FICO score are around 770 mark. We heard you might have to prepare a presentation and do interviews etc.

Can anyone give me some insight on their personal experience going through the process?

[dezmarez]

what type of business do you do?
how long have you been doing it?
what's the loan for?

[liquid1010]

The type of business you're starting will make a huge difference. In NA we're asset based lenders, not cash-flow based lenders, so they'll be more willing to give you a loan if you have a decent tangible asset base.

[bg_27]

Talk to BDC (Business Development Canada), they tend to lend more freely to small businesses because they are a crown corporation.

[Canmorite]

Depending on your plan and how solid it is, venture capital may be an option too.

[canadian_hustla]

pm'd