Commercial Lending
Commercial Lending
COMMERCIAL LINE OF CREDIT (CLOC)
The convenience of credit
Open a CLOC and you’ll get the advantage of:
- Flexible terms
- No setup or nonutilization charges
- Available for Retail, Red Carpet Lease and CommerciaLease financing
- Credit that frees up capital
- Availability of a combined billing statement
With our CLOC program, you can apply for a credit line starting at $250,000 and, once approved, you can add vehicles to your fleet whenever you need to, for up to 12 months.** Now you can be covered all year for all of your financing or leasing needs. No need to reapply every time you need a vehicle.
When to consider a Commercial Line of Credit
- If you need or anticipate needing $250,000 or more in fleet financing for your business
- If your existing Ford Credit account balance is getting close to $250,000 and you’re planning to make additional purchases in the next 12 months
Start the application process
To apply for a CLOC, please click on the link below and submit the required information. For questions about the CLOC application process, please contact the Commercial Lending Services team via email at fcorigin@ford.com or by phone at 1-800-567-2426 ext. 17251. You can also contact your Ford/Lincoln dealer directly.
To complete the initial CLOC application, you will need:
- Signature of person(s) authorized to sign for the business
- Reviewed or Audited Year-End Financial Statements – three years, including Notice to Reader and notes
APPLY HERE:
COMMERCIAL LEASE
Work smart with a customizable plan for your business.*
CommerciaLease is an open-ended lease program that allows flexibility to set the residual based upon business requirements.
Eligible vehicles
- New/used
- Cars through heavy duty trucks
- Upfit vehicles
- High kilometrage and heavy use vehicles
Ineligible vehicles
- Vehicles used for livery (for hire) operations
- Emergency, fire and ambulance
- Rental units
Features
- Flexible terms
- No acquisition or up-front administration
- No kilometrage restrictions or penalties
- No charges for excess wear and tear
- Upfits can be residualized
- Combined billing
Standard Terms and Residuals Guidelines
| Months | % Based On Final Net Capitalized Cost: |
|---|---|
| 12 mos. | 65% |
| 24 mos. | 55% |
| 36 mos. | 45% |
| 48 mos. | 35% |
| 60 mos. | 25% |
| 72 mos. | 15% |
Lease-end Options
You have several options at the end of your CommerciaLease:
- Contact your dealer to:
- Purchase or lease a new Ford vehicle and facilitate the trade in of your current CommerciaLease
- Assist you with terminating your existing CommerciaLease account. You will need to schedule a vehicle return appointment with your originating Dealer.
- Contact our Business Centre at 877-636-7346 (toll free) for any other inquires.
Note: You are responsible for any deficiency between the balance owed and the selling price (including any costs incurred to sell the vehicle as agreed upon in your Master Lease Agreement).
Contact a Commercial Business Development Manager for more information.
Warranty and Service Products
It’s smart that you keep up with your scheduled maintenance. What about unexpected repairs? Ford Extended Service Plan (ESP) helps protect you from the cost of any unforeseen events.
*Not all customers will qualify. See your Dealer for standard CommerciaLease customer and vehicle eligbility requirements. All program terms are subject to be changed, modified or removed at Ford Credit’s sole discretion.
