Heavy Equipment Financing Hub
Financing heavy equipment allows your business to purchase or lease expensive machinery through loans or lease agreements. We’ve vetted the best heavy equipment financing resources, companies, banks, and online lenders for you.
Equipment Financing Types
WHAT YOU’LL LEARN
There are several types of equipment financing, including equipment loans, equipment leases, and equipment refinancing.
Equipment loans provide ownership through installments, while leases allow use without ownership. Refinancing lets businesses restructure existing equipment loans for better terms.
6 resources
Financing by Equipment Type
WHAT YOU’LL LEARN
Financing varies by equipment type.
Tractor financing may offer lower rates with agricultural-specific lenders. Farm equipment financing often includes flexible terms or government-backed loans.
Construction equipment financing may require larger down payments and shorter terms due to higher equipment costs.
7 resources
Tools & Resources for Equipment Financing
WHAT YOU’LL LEARN
Tools and resources for equipment financing include online loan calculators, business credit monitoring services, and comparison platforms for financing options.
Additional resources include industry-specific lenders, financial advisors, and government programs like SBA loans that support equipment purchases.
5 resources
Eligibility, Qualifications & Financing Terms
WHAT YOU’LL LEARN
Eligibility for equipment financing typically requires a credit score of 600 or higher, a minimum of 1 to 2 years in business, and stable revenue.
Lenders also assess the type of equipment, its resale value, and the business’s financial health.
6 resources
Equipment Financing Considerations
WHAT YOU’LL LEARN
Equipment financing considerations include assessing equipment needs, conducting ROI and cash flow analysis, choosing between loans or leases, negotiating terms, and avoiding hidden fees and overborrowing.
5 resources
Heavy Equipment Financing FAQ
WHAT YOU’LL LEARN
Heavy equipment financing allows businesses to purchase machinery by obtaining loans or leases from financial institutions. Typically, the equipment itself serves as collateral, and financing terms can range from 24 to 84 months. This helps companies manage cash flow while accessing essential tools for operations.
What credit score do you need to finance heavy equipment?
To finance heavy equipment, a credit score of at least 600 is generally required. However, higher scores (above 650) may qualify for better interest rates and terms. Lenders may also consider other factors such as business revenue and time in operation.
How long is heavy equipment financed for?
Heavy equipment is typically financed for terms ranging from 24 to 84 months. The exact length depends on the type of equipment, its cost, and the lender’s terms. Longer financing periods may lower monthly payments but increase total interest paid.
How do people afford heavy equipment?
People afford heavy equipment by using financing options such as loans, leases, or equipment-specific financing plans. Many opt for leasing to avoid large upfront payments, while others take out loans where the equipment serves as collateral. Businesses may also use government grants or trade-in programs to reduce costs.
What are typical terms for equipment financing?
Typical terms for equipment financing include loan durations of 24 to 84 months, interest rates ranging from 4% to 20%, and down payments between 10% to 20%. The terms vary based on the equipment type, the borrower’s credit score, and the lender’s requirements.
More Heavy Equipment Financing Resources
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Can You Refinance an Equipment Loan? (Heavy Equipment Refinancing Guide)
What if your iron fleet is worth more than you think? In today’s market, we’re seeing equipment values shift dramatically – and savvy operators…
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Use This Heavy Equipment Loan Calculator (to Estimate Your Monthly Payments)
What’s the difference between equipment operators who secure premium financing terms and those who don’t? It’s not luck – it’s leveraging two powerful tools…
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Heavy Equipment Loan Management: Best Practices + Options
Picture this: Two identical Caterpillar D8 bulldozers. Same age, same hours. Yet one secures financing at 2% lower interest. This is where heavy equipment…
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How to Get an Equipment Loan in 2025: What Bank Data Analysis Reveals
Picture this: Your competitor just landed a major contract because they had the right equipment. Meanwhile, your growth is stalled because that vital piece…
