Business Term and Vehicle Loans
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Equipment
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Business Vehicles
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Heavy-Duty Trucks
Features:
- Available for purchases and refinances
- 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
- Inventory
- Leasehold improvements
- Expansion
- Permanent working capital
Application Checklist:
- 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
Features:
- No fees
- No prepayment penalties
- Loan to value1: new, up to 100%; used, up to 90%
Best For:
- Cars
- Light-duty trucks
- SUVs
Application Checklist:
- Completed and signed business loan application PDF
- Purchase invoice/buyers order to include: Year, Make, Model, Mileage, VIN & Sales Price (Internet print-offs not accepted)
- Certificate of Insurance: Navy Federal listed as Loss Payee
- Mileage statement (for refinances)
- Payoff statement (for refinances)
Features:
- No prepayment penalties
- No fees
- Loan to value2: 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)
Application Checklist:
- Completed and signed business loan application PDF
- Purchase invoice/buyers order to include: Year, Make, Model, Mileage, VIN & Sales Price (Internet print-offs not accepted)
- Certificate of Insurance: Navy Federal listed as Loss Payee
- Mileage statement (for refinances)
- Payoff statement (for refinances)
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Already a Business Solutions member and ready to apply for a term loan?
- For requests up to $50,000, print the application formPDF and Beneficial Owner FormPDF (if required).
- Sign the completed form(s), then scan all documents and save as a PDF or JPEG file.
- Submit your application form and Beneficial Owner Form (if required) along with any supporting documents via our Business Loan Application Submission Link
Please allow two to three business days to process a fully completed application.
For requests greater than $50,000, call 1-877-418-1462, 9 am to 5 pm, ET, Mon-Fri to request to be connected with a business lending representative to start the process.
If you have any questions, call 1-877-418-1462, 9 am to 5 pm, ET, Mon-Fri.
Disclosures
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.
↵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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