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FRAUD AWARENESS REMINDER

Chartway will NEVER contact you directly and ask for specific confidential information (login credentials, PIN, card number, etc.). Be aware of fraudulent text and phone scams and take extra precaution. If you are contacted unprompted, please call us at (800) 678-8765. We are here to help keep your accounts safe.

Commercial Vehicle Loan

Tailored Just For You

Whether you're running a logistics company, construction business, or offering delivery services, our Commercial Vehicle Loan is tailored just for you. You’ll have the flexibility you need to acquire the perfect vehicles for your unique requirements.

With a Chartway Commercial Vehicle Loan, you can benefit from:

Flexible terms (from 12 to 84 months)

Fixed Rate Loans

Loans up to $150,000

Loans up to 80% of vehicle value

Loans on vehicles up to 26,000 lbs GVWR (Gross Vehicle Weight Rating)

Table data for Commercial Vehicle Loan Rates
 Effective 03-02-2024
Standard Terms Rate - As Low As Alert Me
Fixed for 5 years 8.15%

Frequently Asked Questions

How can I qualify for a Chartway Business Loan?

You will need to have:

  • Business established for at least two years with 1 year tax returns
  • Liquidity to Total Debt = 7%
  • Combined Net Worth (borrower plus guarantor) at least 3x the loan amount for term loans and lines of credit, 2x for vehicles and Residential Commercial Real Estate.
  • Businesses must have a Chartway account with Prime Share and be located within Chartway’s markets (Virginia, Utah, Northern Arizona, Southern Nevada, North Carolina, Houston Texas area)
  • Business documentation and identification required from borrower and guarantors

How can I reach out for more questions?

  • If you have questions regarding our Business Loans, please give us a call at (877) 609-8533.

Is there a Loan Origination Fee?

  • A loan origination fee will apply to each small business loan. This fee is permitted to be deducted from the loan proceeds.

Is a down payment required?

  • Chartway generally loans up to a percentage of the current asset value for Commercial Vehicles or Equipment provided as collateral. In situations where the purchase price or refinance amount exceeds this limit, a down payment would be necessary.

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