Article
Why Your Fleet Needs a Proactive Line of Credit Strategy
05/19/2025
Do you have a plan for quickly adding vehicles to your business? Maybe a lucrative contract opportunity calls for more vehicles than you have, or a heavily used vehicle isn't up to the next task, and every day it goes unreplaced, your bottom line shrinks.
These scenarios are all too familiar for business owners and fleet managers. Opportunities present hidden challenges, and setbacks are inevitable.
The key is to prepare your business for the unknown. And that's where a business [line of credit] comes in.
Advantages of fleet credit lines
As Kris Morris, Vice President of Commercial Vehicle Lending and Fleet at GM Financial, says, "Time is money for businesses, and vehicles are revenue-producing assets."
Every minute spent acquiring vehicles is revenue lost. Traditional bank loans, while reliable, may require lengthy approval processes. So the more vehicles you need, the longer it takes.
"A line of credit is ideal for companies with dynamic fleet needs," explains Kris. "One simple application unlocks quick access to funds whenever you need to expand your fleet."
Unlike loans, lines of credit offer a revolving pool of funds. You only draw what you need, pay interest on that amount and face no penalties for unused funds.
Managing fleet cash flow with credit
A typical business line of credit offered by banks allows businesses to cater to diverse needs, from payroll to overhead.
But GM Financial's dedicated commercial vehicle line of credit, starting at $350,000 with annual reviews, is dedicated to vehicle purchases and leases, allowing you to keep bank lines of credit open for other business needs.
A line of credit shouldn't be just a transaction, says Kris. "It's a gateway to a partnership with an experienced team, opening doors to ongoing conversations about optimizing your fleet."
GM Financial's fleet management experts are true consultants, providing guidance and support for the unique needs of your business every step of the way. Contact us to discuss how a commercial vehicle line of credit can work for your business.