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Loans to Keep Your Business Moving

We know that success looks different for every small business, which is why our term loans were built with smart growth in mind. Explore your options for purchasing vehicles or equipment or increasing working capital.

  • Equipment
  • Business Vehicles
  • Heavy-Duty Trucks

Term Loans

Looking to strengthen or expand your operations? A Term Loan can provide the funds you need to take that next step.

Highlights:

  • Available for purchases and refinancing
  • No prepayment penalty
  • Loan to value: up to 75%, depending on the type of equipment
  • $150 origination; lien search and recording fees may apply and vary by state

Best For:

  • Commercial equipment
  • Computer equipment
  • Leasehold improvements
  • Expansion

What You'll Need to Apply:

  • Completed and signed business loan application PDF
  • Purchase invoice/buyers order to include: serial number(s) if applicable to ensure proper lien filing and sales price
  • Certificate of Insurance: Navy Federal listed as Loss Payee
  • Personal guarantee
  • Personal credit check

Business Vehicle Loans

As a small business owner, you need reliable transportation to connect you and your products to clients, customers and consumers. Whether purchasing or refinancing, we can help you secure the vehicles you need to grow and thrive.

Highlights:

  • No fees
  • No prepayment penalties
  • Loan to value:1 new, up to 100%; used, up to 90%
  • A review of the CARFAX Vehicle History Report™2 so you can buy with confidence

Best For:

  • Cars
  • Light-duty trucks
  • SUVs

What You'll Need to Apply:

  • Completed and signed business loan application PDF
  • Purchase invoice/buyers order to include: year, make, model, mileage, VIN and sales price (internet print-offs not accepted)
  • Certificate of Insurance: Navy Federal listed as Loss Payee
  • Mileage statement (for refinancing)
  • Payoff statement (for refinancing)
  • Personal guarantee
  • Personal credit check

Commercial Vehicle Loans

We get it. Not all vehicles are created equally, and many small businesses rely on commercial vehicles to get the job done. Our Commercial Vehicle Loans can help you transform your operations.

Highlights:

  • No prepayment penalties
  • No fees
  • Loan to value:3 new, up to 80%; used, 75%

Best For:

  • Commercial, heavy duty or “special use” trucks and vans
  • Rolling stock (semi-tractor trailers, grain trailers and other equipment associated with hauling goods)

What You'll Need to Apply:

  • Completed and signed business loan application PDF
  • Purchase invoice/buyers order to include: year, make, model, mileage, VIN and sales price (internet print-offs not accepted)
  • Certificate of Insurance: Navy Federal listed as Loss Payee
  • Mileage statement (for refinancing)
  • Payoff statement (for refinancing)
  • Personal guarantee
  • Personal credit check

Ready to Apply?

To be eligible for Business Solutions offerings, business owners must first be members of Navy Federal Credit Union.

Already a Navy Federal member, but not yet a business member?

Join Today to become a Navy Federal Business Solutions member.

Already a business member and ready to apply for a loan?

Term or Commercial Vehicle Loan

  • Complete the application form and beneficial owner form (if required). Print them out and sign with a pen (digital signatures aren’t accepted). Then scan the signed document(s) and submit online.
  • For requests greater than $50,000, call 1-877-418-1462, 9 am to 5 pm ET, Mon.-Fri., and request to be connected with a business lending representative.

Business Vehicle Loan

  • For Single Owner Businesses: Begin the application process by signing in to our secure portal using your Navy Federal personal credentials.
  • For Multi-Owner Businesses: Compete the application form and beneficial owner form (if required). Print them out and sign with a pen (digital signatures aren’t accepted). Then scan the signed document(s) and submit online.

You'll receive an update approximately 7-10 business days after you've submitted your request.

Note: If you’re a Navy Federal employee applying for business credit, you must contact Business Solutions by calling 1-877-418-1462 to apply.

Disclosures

1

Amount approved based on NADA value or purchase invoice amount, whichever is lower. Eligible collateral for a business vehicle includes vehicles manufactured for personal or household purposes and are not deemed to be a "fleet" or fare-paying passenger use (i.e., car, light-duty pickup truck [one-quarter ton maximum limit], or SUV). Please contact a business lending officer for details.

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2

If you are approved for a used business vehicle loan, Navy Federal will use a CARFAX Vehicle History Report to review the collateral. The result of this review may determine whether Navy Federal will disburse your loan proceeds for the selected vehicle. This process may expire at any time. Navy Federal Credit Union is in no way responsible for the accuracy of the CARFAX Vehicle History Report. CARFAX is a registered trademark of CARFAX, Inc.

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3

Amount approved based on NADA value or purchase invoice amount, whichever is lower. Eligible collateral for a commercial vehicle includes a commercial, heavy-duty, or "special use" truck or vehicle. Please contact a business lending officer for details.

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