Commercial Fleet Financing: 2022 Review


Commercial Fleet Financing Inc. (CFF) is a Texas-based company that has over 25 years of experience in equipment financing, primarily for commercial trucks, trailers and transportation equipment. In contrast to a traditional bank, CFF offers credit approvals in as little as two hours, while funding may be available as quickly as 24 hours. To qualify, Commercial Fleet Financing, Inc. looks for good business and personal credit.


Amounts, rates and fees

Commercial Fleet Financing offers commercial equipment loans, commercial equipment leases, and auction lines of credit.

Commercial Fleet Financing Programs: At a Glance
Amount Terms Starting rate Fees Min. credit score
Commercial equipment loan From $10,000 From 36 to 108-month terms depending on the type of equipment Not disclosed No hidden fees 640+ for the typical client
Commercial equipment lease From $10,000 From 36 to 108-month terms depending on the type of equipment Not disclosed No hidden fees 640+ for the typical client
Auction line of credit From $10,000 From 36 to 108-month terms depending on the type of equipment Not disclosed No hidden fees 640+ for the typical client

Commercial equipment loan

If your business will need to use a certain type of commercial vehicle or equipment for a long time, then a commercial equipment loan could be the right fit. With a commercial equipment loan, you can build equity in the equipment as you make monthly payments until you own the vehicle or equipment free and clear. In addition to providing equity in the asset, a commercial equipment loan offers lower insurance rates and would allow you to write off the depreciation expense on your taxes.

Commercial equipment loan

  • Minimum and maximum amount: From $10,000
  • Repayment terms and schedule: Depends on the type of equipment (typical terms are 36, 48 and 60 months, with the ability to go up to 108 months)
  • Interest rates: Not disclosed
  • Fees: No hidden fees
  • Typical time to funding after approval: 24 hours

Commercial equipment lease

While a commercial equipment loan gives you full ownership of the vehicle at the end of the loan term, a commercial equipment lease allows you to use the equipment for a set period in exchange for a set of payments. A lease may offer lower monthly payments or have lower credit requirements for approval, which may save you money upfront. However, a common feature of equipment leases is the option to purchase the equipment at the end of the term. If you’re looking to use a commercial fleet or piece of equipment for three years or less, the commercial equipment lease could be a good fit.

A key benefit of a commercial equipment lease compared to a loan is that you don’t need to worry about the vehicle or equipment becoming obsolete. CFF also offers commercial vehicle leases with no mileage restrictions. The downside, however, is that you will need to watch the wear and tear of your vehicle or equipment.

CFF Commercial equipment lease

  • Minimum and maximum amount: From $10,000
  • Repayment terms and schedule: Depends on the type of equipment (typical terms are 36, 48 and 60 months, with the ability to go up to 108 months)
  • Interest rates: not disclosed
  • Fees: No hidden fees
  • Typical time to funding after approval: 24 hours

Auction line of credit

If you want to purchase commercial equipment through an auction, then the Commercial Fleet Financing’s Auction line of credit could be the right fit. A business line of credit allows you to withdraw money up to a set amount instead of borrowing a lump sum. An auction line of credit works similarly, allowing you to bid up to your approved amount, and you would not need to make payments until you’ve withdrawn the money. It provides a flexible financing option for your business.

CFF Auction line of credit

  • Minimum and maximum amount: From $10,000
  • Repayment terms and schedule: Depends on the type of equipment (typical terms are 36, 48 and 60 months, with the ability to go up to 108 months)
  • Interest rates: not disclosed
  • Fees: No hidden fees
  • Typical time to funding after approval: 24 hours


Loan requirements

To be eligible for Commercial Fleet Financing’s equipment loan, lease, or auction line of credit, you need strong credit and positive cash flow, and your business needs to have been operational for at least two years. CFF will still consider applications that do not meet these criteria, but they may ask you for additional information or require you to put in a 10% to 20% down payment.

The typical business borrower will fit the following criteria:

  • Minimum credit score: 640
  • Time in business: 2 years, but funding is open to start-ups with 10% to 20% down payment
  • Annual revenue: not specified

Additionally, CFF financing options are currently only available to the following industries:

  • Trucking
  • Towing
  • Construction
  • Moving

Required documents

The application process for CFF’s financing options is quick and straightforward. To get started, you would need to provide the following information on the online application:

  • Amount to finance
  • How soon you would need funds
  • Type of truck or equipment
  • Year of truck or equipment
  • Your name
  • Your address
  • Your credit score range
  • Annual personal income
  • Amount you’re willing to put as a down payment
  • Your phone number

From there, you would be asked to fill out a credit application, which requires the following:

  • Amount to finance
  • Type and year of truck or equipment
  • Credit score
  • Type of corporation
  • Person’s name and title
  • Person’s date of birth
  • Person’s Social Security number
  • Whether or not person is a homeowner
  • Person’s contact information (e.g., cell phone number, email address)
  • Legal company name
  • Year business was started
  • Company contact information (e.g., address, phone number, email address)
  • Federal tax ID
  • Percentage of ownership
  • Fleet size

Finally, when the term is decided, a CFF loan consultant will require the following:

  • Driver’s license
  • Insurance contact information

For financing amounts under $150,000, you would not be required to provide tax returns.

Pros and cons

Pros Cons
  • Funding in as little as 24 hours
  • Typically requires a 640 minimum credit score
  • Offers 100% financing options
  • Limited to four industries:
  • Trucking
  • Towing
  • Construction
  • Moving
  • No tax return required for financing under $150,000
  • Requires 10% to 20% down payment for startups


Should you apply?

Commercial Fleet Financing offers a fast and convenient alternative to traditional banks in commercial equipment financing, with a time to fund as quick as 24 hours after approval. Their lease and auction line of credit gives you flexibility to address your short term needs, while the commercial equipment loan can help with your longer-term equipment purchases. In addition, CFF offers financing to startup businesses, though they may be required to put a 10% to 20% down payment.

Commercial Fleet Financing is limited to four main industries: trucking, towing, construction and moving. Their typical client has a minimum credit score of 640, so if your credit score is low, you may need to work on improving your credit to qualify.


Alternatives to Commercial Fleet Financing

While Commercial Fleet Financing offers fast, convenient financing options, it is wise to shop around and see how they measure up to other commercial equipment financing products.

Commercial Fleet Financing vs. Funding Circle

CFF offers financing to only trucking, construction and commercial transportation industries — so if you need equipment financing for other industries, then peer-to-peer lender Funding Circle might be right for you. With term loans up to $500,000 and repayment up to 10 years, Funding Circle can the needed funds with more flexibility in industry. However, Funding Circle requires a FICO Score of 660 and may take up to five business days to receive funds.

Commercial Fleet Financing vs. Crest Capital

Businesses outside of trucking and transportation industries would benefit from vehicle financing with Crest Capital, as they only finance trucks for non-transportation companies. For equipment financing under $250,000, Crest Capital may offer same-day approval and terms of 24 to 72 months, and would not require tax returns or financial statements. Crest Capital offers fixed-rate equipment loans and the option to purchase at the end of an equipment lease term.

Commercial Fleet Financing vs. CIT

Compared to Commercial Fleet Financing, CIT offers equipment financing to more industries. Financing goes up to $500,000 with rates as low as 5.49%, but the loan and lease terms are shorter than CFF, extending up to 72 months, while CFF allows the option to go as long as 108 months, or nine years. Still, like CFF, CIT also offers the option to purchase equipment at the end of your lease financing.