DC Green Bank today announced $1 million in financing for FinEV to provide loans for DC small businesses to purchase electric vehicles. The financing will be used to help approximately one dozen businesses – such as transportation providers, florists, dry cleaners, plumbers, HVAC technicians, and solar developers – make the switch to fully electric vehicles. By electrifying their fleets, businesses can save thousands of dollars each year through reduced fuel and maintenance costs, while also lowering pollution in their communities and cutting their climate impact.
FinEV is filling a gap in the industry, as electric vehicle manufacturers often do not offer in-house financing for small businesses. FinEV will offer affordable credit options, helping to ease small businesses’ transition to electric vehicles. DC Green Bank’s loan will help FinEV expand its footprint and scale its lending operations.
“Making it easier for pioneering businesses to electrify their fleets will help them save money and energize their businesses,” said Brandi Colander, Interim CEO of DC Green Bank. “Our loan to FinEV is DC Green Bank’s first investment in resilient infrastructure for vehicle and fleet electrification, and we look forward to helping small business owners invest in what is best for both their needs and their communities.”
“The market for converting fleets to electric is already there, what lacks is the supply to fulfill this demand. FinEV is filling this gap, which will lead to more business owners in the DC area jumping at the opportunity to invest in electric vehicles,” said Nic Abel, CEO and Founder of FinEV. “DC Green Bank’s partnership will help us attract further investments that will continue to support small businesses and help the District reach its sustainability goals.”
DCGB FinEV Press Release_10.21.25