CHERRY HILL, N.J. — TD Auto Finance today announced the national expansion of TDAF Commercial Services, which leverages TD Bank N.A. to provide floorplan financing and commercial lines of credit to automotive dealerships.
"We are incredibly excited to continue growing our commercial business," said TDAF President and CEO Andrew Stuart. "This decision signifies TD's strong commitment to the auto space and our desire to offer a full suite of products and commercial lending to our dealer network across the U.S."
TDAF first began offering commercial loan products in June 2011, primarily in the East Coast, and has since expanded into the Midwest. This move extends TDAF's commercial services footprint throughout the continental United States to more closely align with TDAF's current indirect retail model.
"Dealer principals are looking for lenders who understand the full range of their business needs. The commercial loan products are an integral piece of a dealership's operations," said Anne Kline, Head of TDAF Commercial Services. "Our Dealer Relationship Managers have a deep knowledge of all facets of automotive finance and we are eager to bring this expertise to our expanded footprint."