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Whether you’re looking to buy a new commercial vehicle or add to your company’s services, Lendio will find you the perfect lender for your needs. You’ve gotten your business to where it is today, but with Lendio you’ll go farther than ever before.
Apply in just 15 minutes and get funded in as little as 24 hours
Get personalized support throughout the funding process. Your funding manager will be with you every step of the way to answer your questions and advocate for you.
Compare loan offers from multiple lenders. With over 75+ lenders in our network, your funding manager will work with you to ensure you get the best rates and terms for your business.
Expand your commercial vehicle fleet with a business loan custom-made for your capital needs. Lendio has partnered with over 75 lenders, each of which is capable of giving you a cutting-edge advantage in your business field.
Answer just a few questions about your business to see which lending products you qualify for. We’ve partnered with over 75 lenders, allowing us to find the best option or your business.
One of our funding specialists will reach out to you to get to know your business better. Since every business is unique, we want to make sure we find the loan type that’s perfect for your needs.
Compare different offers curated for your business. Select the capital amount and rate that will help take your business to the next level.
We work with lenders that can fund you fast. Once you’re approved, you’ll be able to access your capital in as little as 24 hours.
Equipment financing is a unique type of financing used specifically to buy equipment including many types of commercial vehicles. Pay the funds back in regular payments over a set term plus interest.
Use essential commercial vehicles for a specific period while building credit. Make a monthly payment that includes interest, with the option to purchase the vehicle when the term is up.
Term loans and SBA loans can both be used for a variety of business expenses including purchasing commercial vehicles. Borrowers receive the money in one lump sum and make regular, monthly payments until the loans are paid off.
A business line of credit is like a credit card, but it comes with a higher credit limit. It can be used for both immediate and future working capital needs. If you’re expanding your commercial vehicle fleet, a business line of credit is a great no-money-down option.
A business auto loan is a specialized financing option tailored for acquiring smaller commercial vehicles like light trucks, vans, or cars. This type of loan allows you to repay the borrowed amount, along with interest, over a predetermined term. It provides a convenient and efficient means of securing the funds necessary to invest in the vehicles your business needs.
There are several reputable banks that offer business auto loans, helping you to find the perfect fit for your commercial vehicle financing needs.
Financing for commercial vehicles is when the borrower uses a loan product to complete the purchase of a commercial vehicle. Equipment financing is a common way to secure funding for a commercial vehicle.
Requirements for equipment financing vary by lender. Minimum credit score requirements start at 500, but you will qualify with more lenders if your score is 600 or above. Some equipment lenders will work with startups, while others require at least one year in business. Some will also look for a minimum monthly revenue.
Commercial vehicle financing can be used to purchase a new commercial vehicle, repair an existing one, or to purchase additional materials needed to run your commercial vehicle company. Equipment financing can be used only to purchase the approved equipment.
While it’s possible to use a personal auto loan to purchase a company vehicle, it’s generally not the best practice. Personal auto loans are designed for personal vehicles, and using them for business purposes can lead to complications, especially when it comes to taxes and insurance. Commercial vehicles often require different insurance coverages, and the interest on a business auto loan can be tax-deductible. It’s recommended to use a business auto loan for purchasing company vehicles, as these loans are specifically designed to cater to the needs of businesses.
An online lending marketplace offers a quick application and faster disbursements than traditional business loans offered by brick-and-mortar banks. If time is of the essence, an online business loan may get you on the road in the shortest amount of time.
An SBA loan is a loan that is insured by the U.S. government through the small business administration. Because of this, SBA loans typically come with lower interest rates and higher loan amounts than other types of business loans. However, they are harder to qualify for and can take longer to process.
There are three types of SBA loans: microloans, 7(a) loans, and 504 loans. Microloans are good for small capital needs between $500 and $50,000. 7(a) are great for larger working capital needs and come with loan terms up to 25 years for real estate and 10 years for equipment and capital needs. 504 loans are best for large asset purchases up to $5 million. If you need to purchase a high-end commercial vehicle or a fleet of cars, the 504 SBA loan may be your best option.
*based on 136 Lendio employees who responded to an internal poll