TD Auto Finance, the automotive financial services arm of Cherry Hill-based TD Bank, said Tuesday that it is expanding its commercial services nationwide.
The TDAF unit provides floorplan financing and commercial lines of credit to automotive dealerships. It started offering loans in June 2011, primarily on the East Coast, and has since expanded into the Midwest, TD Bank said. The newest move extends its footprint throughout the continental U.S.
“We are incredibly excited to continue growing our commercial business,” Andrew Stuart, TDAF’s CEO and president, said in a prepared statement. “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.”
