Background check help! Fired from being a college TA and sweating

About two months ago, I was fired from my most recent position: TAing a class at my college due to underperformance. I am in the late stages of an internship application process at a large investment management company, and I am now required to submit a full employment history of 10 years for a background check. I do not plan to lie or omit my termination. My supervisor is not particularly fond of me, but not particularly angry. If I'm completely honest with them, how negatively will this impact my chances of being selected as an intern? How can I make this situation better?

 

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