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Commercial Vehicle Loans: 4 Frequently Asked Questions

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Business owners from every industry are contacting National Business Capital’ financing advisors with questions about the benefits of using commercial vehicle loans to finance their business goals. 
Here’s the answers to the top 4 questions clients are asking National’s financing advisors about commercial vehicle financing:

commercial vehicle loans frequently asked questions FAQs

Q1:  What Qualifies as a Commercial Vehicle?

Any vehicle that is owned or leased by any kind business is recognized by the US Department of Motor Vehicles as a commercial vehicle, and so are covered by National Business Capital’ commercial vehicle loans. A vehicle is also considered commercial property if:

  • It is used for business purposes, but owned by an individual such as an entrepreneur or sole proprietor.
  • The vehicle is built and used primarily for transportation of property.
  • It is designed to carry over 15 passengers.
  • The vehicles that exceeds a certain weight class, even if not owned by a business owner, or used for commercial purposes.

Q2: What Can I Use Commercial Vehicle Loans For?

The financing advisors at National Business Capital have helped business owners in virtually every industry secure commercial vehicle loans, for a vast variety of uses, including:

Public Transportation: Busses, taxis, limousines, tow trucks, and public transportation vehicles of all types that are used for the transportation of persons for hire, compensation, or profit. More vehicles means taking on more passengers, and multiplying profits for those who secure financing through National Business Capital.

Emergency Service Vehicles: Vans and trucks used for medical and safety emergencies are just a few kinds of emergency service vehicles National Business Capital has helped secure for clients across the US. Clients who secure additional emergency service vehicles through National gained the ability to grow their business, and help more people in need.

Construction, Mining, and Contractors: Heavy construction trucks and equipment are some of the most most popular commercial vehicles sought after by National Business Capital’ clients, including cranes, bulldozers, dump trucks, and excavators. With help from National’s commercial vehicle loans, these clients were able to get the machines they needed to take on more projects, and expand their businesses.

Farming and Agriculture

Farmers and agricultural professionals are able to secure any and all vehicles that help them plant, nurture, and harvest crops, including tractors, seeders, and cultivators—all of which are considered commercial vehicles. Any kind of vehicle or trailer that helps raise, care for, or transport livestock such as trailers are also considered commercial vehicles.
National Business Capital is currently helping farmers all across the country secure the financing they need to keep their farms running smoothly, and seize opportunities for growth.

Retail, Manufacturer, and Warehouse Shipping

Businesses that profit from shipping retail supplies are securing commercial vehicle loans from National Business Capital, and boosting their sales through obtaining additional semi-trucks and other vehicles built for shipping.
What’s more, manufacturers and wholesale distributors are contacting National on a daily basis for help in obtaining vehicles specialized for carrying certain materials including scrap metal and cement, and others with tanks built to transport hazardous chemicals.

Q3: Are There Any Exceptions?

Yes! There are many kinds of vehicles and motorized equipment that the US Department of Transportation does not require a CDL license in order to operate, and so are not subject to the hefty registration fees and federal regulations as commercial vehicles. These include:

  • Electric Pallet Jacks
  • Forklifts (technically a commercial vehicle, but does not require alternate certification in order to operate)
  • ATV’s for Farm Use
  • Riding Lawn Mowers, and Other Landscape Equipment

While most of these are not technically commercial vehicles, National Business Capital is able to offer cover the costs of these machines with equipment financing options that offer the same benefits of their commercial vehicle loans.
Both vehicles and other kinds of machinery used for business purposes fall under National’s equipment financing options, all of which help business owners get the tools they need to grow their business, while saving them time and money in the process.

Q4: What Makes National Business Capital so Special?

Glad you asked! Here’s the fast facts on why National’s commercial vehicle loans are so great:

  • Both long and short term options available
  • Loan amounts up to $3 Million
  • Completely write off any and all commercial equipment in as little as a year
  • Use the equipment itself as collateral, instead of personal or business assets
  • Access to funds in as little as 24 hours

National Business Capital’ team of financing advisors expedite and simplify the funding process in ways not offered anywhere else.
They work with over 75 lenders to find the perfect commercial vehicle loans for their clients in as little as 24 hours to accelerate the growth of the businesses they serve as fast as possible, while saving them valuable time and money in the process.

Next Steps

Contact the financing advisors at National Business Capital at (877) 482-3008, available 24/7, and ask them how they can help you obtain commercial vehicle loans for your business, or get started on National’s 1-minute, 1-page application online to get approved in less than 24 hours.

Last Updated on March 14, 2018

National Business Capital is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!

About the Author, Joe Camberato

Joseph Camberato, CEO of National Business Capital, developed a passion for business at a young age. Joe started his company in 2007 in his spare bedroom and has grown to secure over $1 Billion dollars in financing for small business owners nationwide. National’s team has an amazing culture and has been name the #1 Top Workplace on Long Island 3 years in a row and counting. Joe is a trusted financial expert who’s published more than 2,000 articles in the last 3 years. His articles have generated over 5 million page views and has been featured on blogs such as Google News, Yahoo, CNBC, Forbes Magazine, etc. His passion has also inspired him to build the "GrowByJoe” YouTube channel where he shares his insights into small business trends and tips for growth. Joe also holds a seat on Forbes Finance Council and is an active member of the Young Presidents' Organization (YPO), a global leadership community.





Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advise from National Business Capital and the author. Do no rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely in this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there maybe errors, omissions, or mistakes.