Construction
Construction Equipment Financing
The construction industry is an important part of the American economy, employing about 8 million people and building new homes, commercial buildings, and other structures. When you need new equipment to keep your construction projects moving, we can help with fast approvals and same-day funding. Equipment financing helps you get the excavators, bulldozers, and other equipment you need to keep your business running.
Benefits
• Protect Your Finances: Zero-down options so you keep your cash reserves.
• Access Modern Equipment: Secure the latest technology and machinery without the stress of high costs.
• Strengthen Financial Stability: Maintain a healthy cash flow and distribute resources efficiently across your business operations.
• Increase Efficiency: Use updated equipment to meet project deadlines and enhance overall productivity.
• Maintain Cash Flow: With our solutions, you can keep a steady cash flow. We work with your budget to find a monthly payment that works for you.
Financing With Us
Here’s how we stand out in supporting your construction business:
• Quick Approvals: In the fast-paced construction industry, time is of the essence. We prioritize your needs with approvals in less than 4 hours.
• Credit-Friendly Approach: Our soft credit checks allow you to explore financing options without affecting your credit score.
• Expert Assistance: Our experienced specialists are available for one-on-one support, guiding you through the process and answering your questions.
• Immediate Funding: Once you’re approved, our same-day funding ensures you receive the financial support promptly..
• Adaptable Solutions: Recognizing the uniqueness of each construction business, we offer flexible solutions designed for your specific needs.
Some Equipment We Finance:
Barriers | Scaffolding | Safety Signage | Water Trucks | Concrete Barriers | Crane | Skid Steer Loader | Plows | Backhoe | Excavators | Front Loader | Compactor | Dump Truck | Bulldozer | Trenchers | Bucket Truck | Forklift | Road Roller | Grader | Mixer | Asphalt Paver | Directional Drills | Cement Mixers | Volumetric Trucks
Start Your Application Today
Frequently Asked Questions
There is no standard down payment required. However, for start-up Construction businesses, 10-20% of the equipment cost is required as a down payment. The more business and personal borrowing history you have, the more likely you will be able to qualify for zero-down.
There is no application fee for applying. If approved and you proceed with the funding process, the fees will depend on the structure of your deal. Our standard documentation fee ranges from $200-$700 depending on the loan size, but there could be additional fees for services like titling or a site inspection.
Once we receive your application, our credit team will review your information and provide you with a decision typically within 4 business hours. If your application is approved, one of our sales representatives will guide you through your payment terms over the phone. At this stage, if additional documents are required, a sales representative will collect those from you as well. From that point, our funding team will reach out directly to you to finalize the documents and schedule the funding. If everything is provided to us promptly, we are able to fund as soon as the next day.
- All we need to make a decision on your file is our one-page application. In some cases, we may require the last 3 months of your bank statements depending on the industry you are in, dollar amount, or your credit history.
- If approved, your approval may have contingencies attached to it that must be completed in order to start the funding process. Common contingencies include proof of business ownership, time in business, and income. Once those contingencies are cleared, you’ll need to provide the funding documents which includes driver’s license, voided check, and anything else required depending on the nature of the loan.
To qualify for financing, you must have a minimum FICO score of 610. An ideal customer has established operations and extensive borrowing history.
While working with your sales representative, it may be beneficial to provide them with contracts you have secured for upcoming projects, notify them if you have cash reserves to make a down payment with, or inform them of additional collateral that you own free and clear you are willing to utilize to secure the loan.
Our rates start at 6.99% and we offer terms ranging from 24-72 months. Your rate is dependent on your credit profile, collateral type, time in business, and borrowing history.
Payments will be automatically drawn from your account on the 1st or the 10th of each month via ACH.
Unlike many of traditional banks, we offer competitive Construction financing for used equipment and can facilitate private party transactions from one business to another. In addition, we offer impeccable speed with our services. We underwrite and release funds to the sellers quicker than many of our competitors so you can get the equipment you need as soon as possible.
