Business LoansSmall Business Lender Reviews
How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Commercial Fleet Financing Review

Updated on:
Content was accurate at the time of publication.

  • Estimated APR range: Not disclosed
  • Best for: Businesses looking for a fast option for equipment financing with a limited application.

Pros and cons of Commercial Fleet Financing

ProsCons

  Quick application with limited documentation requirements 

  Funding may be available in as quick as 24 hours

  May be able to finance 100% of the cost of a vehicle

  Not upfront with their rates

  May need a 640 credit score to qualify for the best rates and no down payments

  May require down payments for borrowers with poor credit 

Commercial Fleet Financing review

Founded in 1995, Commercial Fleet Financing (CFF) is a business lender that specializes in commercial transportation equipment financing options. The company highlights its fast turnaround to funding, as well as its short application.

Who is Commercial Fleet Financing for?

  • Business owners with lower personal credit scores. Although the typical credit score for an approved customer is 640 or above, Commercial Fleet Financing (CFF) will consider lower personal credit scores if your business has steady revenue.
  • Businesses in need of funding fast. CFF can give preapprovals in as little time as two hours, and may be able to deliver funding in as soon as one business day.
  • Businesses needing commercial vehicles and trailers. From light to heavy vehicles, CFF specializes in financing transportation equipment and vehicles for businesses.

Commercial Fleet Financing at a glance

ProductLoan amountsRepayment termEstimated APR rangeFees
Equipment financing$10,000 up to $1,000,000Not disclosedNot disclosedNot disclosed; states no “hidden fees”
Equipment leasing$10,000 up to $1,000,000Not disclosedNot disclosedNot disclosed; states no “hidden fees”
Auction lines of credit$10,000 up to $1,000,000Not disclosedNot disclosedNot disclosed; states no “hidden fees”

Equipment financing

As above, CFF offers a wide range of loan amounts for various pieces of commercial equipment. Its one-page application can usually be approved within two hours and financing can be acquired in as little as 24 hours from then.

loading image

Equipment leasing

In addition to offering equipment loans for purchasing commercial vehicles, Commercial Fleet Financing also offers equipment leasing. While equipment leasing may offer lower monthly payments than equipment financing, the major difference is that you won’t own the equipment outright at the end of the term. Commercial Fleet Financing’s process for equipment leasing is comparable to its equipment financing: With strong credit, no down payment is necessary and funding can be acquired within 24 hours.

Auction lines of credit

An auction line of credit can be used if you’re trying to buy commercial vehicles or equipment through an auction. If you’re approved for an auction line of credit, Commercial Fleet Financing will issue your business an auction line of credit letter which would allow you to bid up to that credit limit on the equipment. After purchasing, you’ll need to send the bill of sale to CFF and it’ll fund the auction company directly.

Commercial Fleet Financing borrower requirements

col1col2
Minimum annual revenueNot disclosed
Minimum time in businessNot disclosed
Minimum credit score640 or higher is preferred

The application process to get a business loan from Commercial Fleet Financing involves a one-page credit application. You’ll need to provide a bill of sale for the vehicle you’re looking to finance, but for loans, leases or credit lines of $150,000 or less, you won’t need to provide tax returns. Preapproval — which may be granted in as few as two hours — only involves a soft credit pull, meaning it wouldn’t appear on your credit report.

Down payment requirements for CFF loan products vary depending on your credit profile. Business owners with poor credit may need to make a down payment of 20%, but if your score is good, you may be able to make no down payment. After approval, financing can be set in as little as 24 hours.

Alternatives to Commercial Fleet Financing

How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
Commercial Fleet FinancingCITBank of America
Minimum credit score640Not disclosedNot disclosed
Loan products offered
  • Equipment loans
  • Equipment leases
  • Auction lines of credit
  • Equipment financing
  • Working capital loans
  • Commercial real estate loans
  • Franchise financing
  • Commercial equipment loans
  • Term loans (secured and unsecured)
  • Lines of credit (secured and unsecured)
  • SBA loans
  • Commercial real estate loans
Time to fundingAs little as 24 hoursAs little as one dayNot disclosed
Starting APRNot disclosed5.49% for equipment financing6.75% for equipment financing
Maximum loan size$1,000,000Up to $500,000Not disclosed
Minimum annual revenueNot disclosedNot disclosedDiffers by product, but at least $50,000

Commercial Fleet Financing vs. CIT

Both Commercial Fleet Financing and First Citizens Bank (NC) offer financing for commercial equipment with quick approval — however, First Citizens Bank (NC) only offers loans up to $500,000, while Commercial Fleet Financing reports that it has provided loans of twice that amount. CFF doesn’t publish its loan terms or rates; First Citizens Bank (NC), in contrast, is more transparent, offering terms of 6 to 72 months with rates for equipment financing starting at 5.49%.

Commercial Fleet Financing vs. Bank of America

In comparison to a traditional bank like Bank of America, Commercial Fleet Financing doesn’t offer as many loan options for small businesses. Notably, Bank of America doesn’t publish as much of their loan information upfront, although you can anticipate equipment financing rates to start at 6.75%. CFF claims to be competitive with banks like BoA, but because CFF doesn’t publish its rates upfront, it is hard to compare.