Equipment financing (sometimes called commercial auto financing) is the standard path for fleet vehicles: the vehicles serve as collateral, supporting high advance rates and terms matched to the vehicles' useful life. For larger fleets or multi-asset builds, an SBA 7(a) loan can bundle vehicles with other startup or expansion costs.
Commercial vehicles — delivery vans, service trucks, heavy-duty work vehicles — are physical assets with readily established resale values. That makes them ideal collateral for equipment financing. Lenders can typically advance a high percentage of the vehicle's cost with the vehicle securing the note, and they set repayment terms to match the asset's working life. Fleet financing is underwritten differently from consumer auto loans: lenders assess the revenue the fleet generates, not just the borrower's personal credit.
A fleet lease keeps payments lower and lets you cycle vehicles on a defined schedule — useful when you need to upgrade to newer models every few years or when the vehicles will depreciate quickly. A fleet loan (equipment financing) transfers ownership: you build equity, can claim depreciation, and keep the vehicles at payoff. The right choice depends on how long you'll use the vehicles, how quickly they obsolete, and whether Section 179 / bonus depreciation changes the after-tax cost of ownership.
When a fleet purchase is part of a larger business launch or expansion — alongside facility costs, other equipment, and working capital — an SBA 7(a) loan can bundle all those costs under a single facility with long amortization and competitive rates. SBA 504 is not typically used for vehicles alone (it targets fixed assets and real estate), but SBA 7(a) is flexible enough to include fleet vehicles within a broader project loan.
An HVAC contractor needs four new service trucks at $55,000 each to take on commercial accounts. Equipment financing matched through ClearValue Lending uses the trucks as collateral, advances the full purchase price, and sets a 5-year term aligned with the trucks' revenue-generating window. The owner applies once at ClearValue Lending and is routed to a single matched lender. Estimate your monthly payment first with our business loan calculator.