Ford Commercial Line of Credit for Growing Fleets
A Ford Pro FinSimple Commercial Line of Credit, commonly called CLOC, can give qualified businesses a pre-established source of credit for financing or leasing commercial vehicles as fleet needs arise.
Instead of starting a new commercial credit application every time another vehicle is needed, an approved CLOC can help a growing business add vehicles throughout the approval period while preserving cash for other business needs.
Why Larger and Growing Fleets Consider a Ford CLOC
Start with the major benefits, then jump to the sections below for more detail.
Apply Once
Establish commercial credit that may be used for eligible fleet financing and leasing throughout the approval period.
Credit Convenience ↓Add Vehicles as Needed
Acquire vehicles when fleet needs arise instead of financing your entire expansion at one time.
Fleet Growth ↓Preserve Capital
Keep more business cash available for payroll, equipment, inventory, expansion and other operating needs.
Working Capital ↓No Non-Usage Charges
Ford states that CLOC does not carry setup or non-utilization charges.
CLOC Benefits ↓Finance or Lease
An established CLOC can support eligible commercial vehicle financing and leasing transactions.
Finance vs. Lease ↓Upfitted Vehicles
Eligible commercial vehicles that include approved upfits can also be considered within the financing structure.
Vehicle Upfits ↓Streamlined Renewals
Ford provides a renewal process for businesses that continue to meet program requirements.
Renewal Process ↓Fleet Planning
Match your available commercial credit with projected vehicle replacements and expansion over the coming year.
Fleet Planning ↓What Is a Ford Commercial Line of Credit?
Ford Pro FinSimple Commercial Line of Credit is designed for businesses that expect to finance or lease multiple commercial vehicles over time.
Once approved, the business has an agreed-upon level of commercial credit that can be used for eligible vehicle transactions during the approval period.
Ford currently describes the CLOC approval as covering eligible vehicle financing and leasing needs for up to a year, subject to initial approval, ongoing eligibility and periodic review.
Discuss CLOC Eligibility →Plan Credit Before the Vehicle Is Needed
Instead of waiting until a replacement truck or new fleet vehicle becomes urgent, a CLOC can establish financing capacity ahead of the need.
- Replacement vehicles
- Business expansion
- New locations
- Additional crews
- Seasonal fleet growth
- Commercial upfits
- Planned vehicle refreshes
When Can a Commercial Line of Credit Make Sense?
CLOC becomes especially useful when vehicle purchases are an ongoing part of operating and growing the business.
Growing Companies
Businesses adding employees, crews, territories or locations may need vehicles throughout the year instead of all at once.
Large Fleets
Larger fleets may replace vehicles continuously as units reach mileage, age or operating-cost thresholds.
Multi-Location Businesses
Companies operating in several markets may need vehicles ordered and delivered at different times and locations.
Contractors & Service Fleets
HVAC, plumbing, electrical, construction and service companies may need to add trucks or vans as new crews are hired.
Planned Replacement Cycles
A business replacing several fleet vehicles every year can coordinate financing capacity with its replacement plan.
Specialized Work Vehicles
Businesses purchasing trucks, vans or chassis cabs with commercial equipment may need a larger overall vehicle acquisition budget.
Keep Cash Available for the Rest of the Business
Vehicles can represent a significant capital requirement for a growing business.
Ford highlights preserving working capital as one of the main benefits of CLOC. Instead of committing large amounts of cash to vehicle purchases, qualified businesses can use dedicated commercial vehicle financing while keeping cash available for other needs.
The right financing structure depends on the business, but separating fleet acquisition from day-to-day working capital can provide greater flexibility.
Other Business Priorities
- Hiring employees
- Payroll
- Inventory
- Tools and equipment
- Marketing
- New locations
- Technology
- Business expansion
Designed to Make Ongoing Fleet Financing Easier
Once established, a CLOC can simplify the way qualified businesses acquire additional vehicles throughout the year.
Pre-Established Credit
Establish financing capacity before every individual vehicle need becomes urgent.
One Application
Ford states that one approved CLOC can cover eligible commercial financing and leasing needs for up to a year.
No Setup Fees
Ford currently advertises no setup charges for its Commercial Line of Credit.
No Non-Utilization Charges
You are not charged simply because the full available line is not being used.
Dedicated Support
Ford Pro FinSimple provides commercial financing resources and customer support for qualified CLOC customers.
Streamlined Renewal
Ford provides advance notice and a renewal process as the approved credit period approaches expiration.
Finance or Lease Vehicles Based on Your Fleet Strategy
CLOC establishes the commercial credit relationship. The individual vehicle transaction can then use an eligible financing or leasing structure appropriate for the business.
Own the Vehicle
Traditional commercial financing may make sense when the business intends to keep the vehicle for a longer period and ultimately own it outright.
- Commercial vehicle ownership
- Predictable financing structure
- Long-term fleet use
- Vehicle equity over time
Consider Leasing Flexibility
Commercial leasing can provide another way to acquire fleet vehicles depending on expected use, replacement cycles and business objectives.
- Commercial lease options
- Fleet replacement flexibility
- TRAC lease options
- Business-focused structures
Plan the Vehicle and Commercial Equipment Together
Commercial vehicles often require more than the factory chassis or cargo van.
Ford’s CLOC customer guidance specifically notes that the agreed-upon credit can be used for the purchase or lease of commercial vehicles, including vehicles that are upfitted.
That can be important when the true cost of a work vehicle includes a service body, shelving, ladder rack, dump body, specialized equipment or other commercial modifications.
Explore Commercial Vehicle Upfits →A CLOC Works Best When You Know What Is Coming
The real advantage of commercial credit is not simply having money available. It is being able to combine financing capacity with a fleet acquisition plan.
Before establishing or renewing a CLOC, it can be useful to estimate how many vehicles the business may replace, add or upfit during the next year.
Explore Fleet Replacement Planning →Questions Worth Reviewing
- How many vehicles may need replacement?
- How many new employees or crews are expected?
- Are new locations opening?
- Will any vehicles require costly upfits?
- Which vehicles should be financed?
- Which vehicles may be better suited to leasing?
- When will factory orders need to be placed?
What to Expect When Applying
Ford Pro FinSimple reviews the business, projected financing need and expected fleet requirements when evaluating a Commercial Line of Credit.
Review Fleet Needs
Estimate the vehicles you expect to finance or lease and the approximate level of credit the business may need.
Provide Business Information
Ford requests information about the business, fleet, revenue, financial condition and expected vehicle needs.
Submit Documentation
Additional financial and business documentation may be required as part of the credit-review process.
Establish the Line
Once approved, the business can use the available line for eligible commercial vehicle transactions during the approval period.
Have Your Business Information Ready
The exact documentation requested depends on the business and credit request, but commercial lenders generally need enough information to evaluate the company’s financial condition and expected fleet requirements.
Ford’s CLOC guidance indicates that applicants may be asked to provide business, fleet, billing and financial information, including historical financial statements or tax-return information.
Be Ready to Discuss
- Legal business information
- Business contact information
- Current fleet size
- Projected vehicle needs
- Estimated financing requirement
- Business revenue and financial history
- Whether vehicles will be financed or leased
- Expected commercial upfit costs
Plan for Renewal Before the Line Expires
Ford’s CLOC customer guidance states that renewal notices are sent before expiration and that updated documentation may be required to renew the line.
Maintaining current financial records and a clear forecast of future vehicle needs can make the renewal conversation easier.
Review the Line as Your Business Changes
Your vehicle needs this year may not be the same next year.
Growth, fleet replacement, larger vehicle upfits and new business locations can change the amount of commercial credit your company may need.
Ford advises CLOC customers to maintain regular contact regarding future fleet needs, and businesses can discuss changes to their credit requirements when necessary.
CLOC Is Only One Part of Fleet Planning
Financing works best when vehicle selection, replacement, operations and acquisition are considered together.
Fleet Financing & Leasing
Compare commercial financing, leasing and TRAC options for different fleet acquisition strategies.
Explore Financing & Leasing →Fleet Replacement Planning
Forecast which vehicles may need replacement so financing requirements can be planned ahead of time.
Plan Fleet Replacements →Ford Pro Telematics
Use connected fleet data to better understand utilization, maintenance and operating patterns.
Explore Ford Telematics →Could a Ford CLOC Make Sense for Your Business?
Tell us about your business, current fleet and expected vehicle needs. We can help you review whether a Ford Pro FinSimple Commercial Line of Credit is worth considering and discuss the information needed to move forward.
Commercial Line of Credit Eligibility
Ford Pro FinSimple Commercial Line of Credit is subject to initial approval, ongoing eligibility and periodic review. Credit availability, approval amount, financing and leasing eligibility, required documentation and other terms depend on the individual business and Ford Credit requirements.
Information on this page is provided for planning purposes and should not be considered a credit approval or commitment to lend.
Frequently Asked Questions About Ford Commercial Lines of Credit
What is a Ford Commercial Line of Credit?
Ford Pro FinSimple Commercial Line of Credit is a pre-established level of commercial credit that qualified businesses can use for eligible commercial vehicle financing and leasing transactions during the approval period.
How long does a Ford CLOC approval last?
Ford currently describes CLOC as allowing an approved business to finance or lease eligible vehicles for up to a year without completing a new commercial credit application for each vehicle, subject to ongoing eligibility and program requirements.
Can I use a Ford CLOC to add vehicles throughout the year?
Yes. That is one of the primary purposes of the program. Qualified businesses can use available credit for eligible vehicle transactions as fleet needs arise rather than acquiring every vehicle at one time.
Can a Ford CLOC be used for both financing and leasing?
Ford describes CLOC as supporting eligible commercial vehicle financing and leasing transactions. The appropriate structure depends on the business and individual vehicle transaction.
Can commercial vehicle upfits be included?
Ford’s CLOC customer guidance states that the line may be used for commercial vehicles, including vehicles that are upfitted. Exact eligibility should be reviewed for the specific vehicle and upfit.
Are there fees if I do not use the entire credit line?
Ford currently advertises no setup or non-utilization charges for its Commercial Line of Credit. Other costs associated with individual financing or leasing transactions may still apply.
What information is needed to apply for a Ford CLOC?
Ford evaluates the amount requested, the company’s financial condition and projected vehicle needs. Applicants may also be asked for business information, fleet information, financial statements or tax-return information and other supporting documentation.
Is a Commercial Line of Credit only for very large fleets?
CLOC is designed for businesses expecting multiple commercial vehicle financing or leasing needs. Whether it is the right solution depends more on the company’s expected vehicle requirements and financial profile than on fleet size alone.
Can you help me determine whether CLOC makes sense for my business?
Yes. We can review your current fleet, projected replacements, expected growth, commercial upfits and upcoming vehicle needs and discuss whether establishing a Ford Pro FinSimple Commercial Line of Credit may be worth considering.
Let’s Review Your Fleet Financing Needs
If your business expects to purchase or lease multiple vehicles over the coming year, we can review your projected fleet needs and discuss whether a Ford Commercial Line of Credit could make the acquisition process easier.