The credit card unit of TD Bank N.A. is expanding the types of financing it offers for lawn and garden retailers in North America.
TD Retail Card Services will now provide installment loans as well as the private-label credit cards it already offers for its new Yard Financing program.
Its Yard Installment Loan for consumers and Yard Installment Loan Plus for businesses are loans for more expensive purchases of new and used equipment. The loans include special rates offered through manufacturer-sponsored programs with terms of up to 72 months. Applications for the loans will be processed with the same automated system used for the Yard Card's instant credit.
The Yard Card for consumers and Yard Card Plus for businesses can be used to purchase new and used equipment, parts and services at roughly 9,000 dealerships.
Retailers who participate in the Yard Card program will now be part of the Yard Financing Program and will be able to offer the new loan products, the Mahwah, N.J., unit said Tuesday.
