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Business Vehicle Loans

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Business Vehicle Loans

Riverfront Federal Credit Union provides financing for new and used cars, cargo vans, SUV’s and commercial trucks for your business.

Does your business require a business vehicle loan? Riverfront Federal Credit Union offers financing for used and new vehicles.

Loan terms up to 84 months with low monthly principal and interest payments.

Commercial Services FAQ’s and Information

Business Credit Card Benefits

What Exactly is a Commercial Loan?

As the Chief Lending Officer at Riverfront Federal Credit Union, I’m often asked “What is a commercial loan or a business loan?” Basically, a commercial loan is the same as any other type of loan; except the lending institution is loaning money to established entities such as a business, partnership, a limited liability company or a corporation. So what are the main differences?

The process for commercial lending definitely has a unique approach when it comes to underwriting. The lending institution will look at cash flow of the company first to see if the company generates sufficient cash flow to support the loan amount. Second to cash flow, is the evaluation of collateral. For example, if the loan is utilized to purchase equipment, then the equipment becomes the collateral. If the loan is utilized to purchase a commercial building, then the building becomes the collateral. In some cases, a loan may be unsecured -whereas no collateral is offered. In these cases, the cash flow of the operating entity becomes even more important. Contrasting this type of loan to a consumer loan; whereas a credit score or debt to income may have a higher emphasis on underwriting.

Riverfront Federal Credit Union specializes in commercial lending. For more information, please call Anthony Pomponio at (484) 345-4160 and we can discuss your business needs with the goal of improving cash flow and making your business a success!

Kritina McCoy

Business Development Representative kmccoy@riverfrontfcu.org

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