TD Bank SBA loans in New York City: lines, sizes and rates

By Solomon Wiesen, editor. Updated October 2026. Editorial standards | How this site is funded

TD Bank approved 2,092 SBA 7(a) loans to New York City businesses between October 2019 and June 2026, more than any other lender and 27.5% of the 7,597 NYC loans in our analysis of SBA loan data. Its median loan was $50,000, and the median starting rate on its loans approved since October 2023 was 11.5%. For a borrower, that means TD’s SBA lending in the city is mostly small, variable-rate credit lines, the product TD describes for expenses like inventory or payroll.

Mostly SBA Express lines of $50,000 or less

Of TD’s 2,092 NYC loans, 98.3% went through SBA Express, 78.9% are revolving lines of credit and 93.5% carry a variable rate. More than half (1,148 loans) were $50,000 or less. Only 37 were above $350,000. The median term is 120 months.

The two largest size groups hold too few loans to read much into their rates. For everything up to $350,000, the median sits at 11.5% or close to it, with the middle half of recent loans between 10.5% and 11.5%. Those rates were set against a prime rate that was 8.50% until September 2024 and then fell in steps to 6.75% by December 2025, according to the Federal Reserve’s prime rate series. Prime was 7.00% in early October 2026.

By borough, 867 loans (41.4%) went to Brooklyn businesses, 531 to Queens, 397 to Manhattan, 162 to Staten Island and 135 to the Bronx. Retail led the industries with 380 loans, followed by construction (304), professional services (265), wholesale (201) and salons, repair and personal services (195). Nearly a quarter of borrowers (24.4%) reported being in business two years or less; 73.4% had been operating longer, and 1.0% were startups using the money to open.

Volume peaked at 522 loans in fiscal 2023, then ran 498 in fiscal 2024, 348 in fiscal 2025 and 150 in the first nine months of fiscal 2026.

What TD publishes about its SBA products

TD’s SBA loan programs page lists three SBA products:

• SBA 7(a): up to $5 million, 10% down payment (“some credit restrictions may apply”), terms up to 25 years, fees “based on project size” that can be financed.
• SBA 504: real estate, construction and equipment, with TD providing 50% of the project, the SBA side 40% and the borrower 10%.
• SBA Express: up to $500,000, fixed or variable rates, usable as a line of credit or a term loan, with a response “usually within 48 hours.”

You can apply online for up to $250,000. For a 504, a 7(a) or a line over $250,000, TD routes you to a business banker or its small business line at 1-855-278-8988. The SBA page does not publish rates for 7(a) or 504 loans, collateral requirements, a minimum time in business, or if you need a TD account first.

The account question comes up on TD’s loans and lines of credit page. Its Small Business Line of Credit goes up to $1 million. For applications received August 1 to October 31, 2026 and closed by January 31, 2027, TD advertises Wall Street Journal Prime plus 3.00% on lines approved with an SBA guaranty, and Prime plus 0.00% on lines approved without one. Both rates require an active TD Bank Business Checking account with payments auto-deducted, and the offer is limited to customers without a current TD line or to increases on an existing one. At 7.00% prime, the SBA-guaranteed version works out to 10.00%. The page does not say which lines TD approves with an SBA guaranty.

The SBA rules behind these loans

The SBA’s 7(a) loan types page caps SBA Express at $500,000 with a 50% SBA guarantee, allows revolving lines with maturities up to 10 years, and requires no collateral on loans of $50,000 or less. A standard 7(a) loan can reach $5 million; 7(a) small loans top out at $350,000. Under the SBA’s terms and conditions, most 7(a) loans carry an 85% guarantee at $150,000 or less and 75% above that, and variable rates are capped at the base rate plus 6.5 points for loans of $50,000 or less, plus 6.0 points to $250,000, plus 4.5 points to $350,000 and plus 3.0 points above that.

Paperwork

TD’s application requirements page asks, for requests up to $250,000, for business formation records (DBA certificate, operating agreement or bylaws) and one year of business tax returns. A personal financial statement is required from every owner of 10% or more and every guarantor. From $250,000 to $1 million, TD adds three years of business returns, two years of personal returns, an accounts receivable aging report and an interim financial statement if you apply more than six months after your fiscal year ends.

For any 7(a) loan, the lender will also collect SBA Form 1919, the borrower information form (current version effective March 19, 2025). The SBA uses Form 413 as its personal financial statement for 7(a) loans.

Who this fits, and who should look elsewhere

TD’s NYC record lines up with a business that wants a revolving line of $150,000 or less, is willing to bank at TD, and may be fairly young: one in four of its NYC borrowers had two years or less behind them. Retail, construction and personal-service businesses in Brooklyn and Queens make up a large share of its city lending.

The fit is weak if you need $350,000 to $1 million; TD made eight NYC SBA loans in that range in nearly seven years. Owners in that position can search the SBA lender finder by loan size and borough. If a bank turns you down, our NYC small business loans table lists 19 city, state and community lenders.

Against a merchant cash advance

A $50,000 merchant cash advance at a 1.40 factor rate, repaid by debits every business day, costs about 71% APR if it runs twelve months, 95% over nine and 142% over six. TD’s recent median SBA starting rate was 11.5%, and its current promotional SBA-guaranteed line prices at 10.00% with today’s prime. If you qualify for both, I’d take the line. Our SBA loan versus MCA comparison runs the numbers at other sizes.

TD Bank does not endorse this page; the loan counts and rates come from our reading of the SBA’s public 7(a) loan file, with cancelled loans excluded.