How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
I'M INTERESTED IN:
Our pick for
Low-interest heavy equipment financing
SBA 504 loans are designed specifically for the purchase of large fixed assets. These loans offer low interest rates and long repayment terms.
SBA CDC/504 loan
Max loan
$5,000,000
Min. Credit score
680
Apr range
5.00-7.00%
Our pick for
Heavy equipment financing for startups
If you have at least six months in business, you may qualify for equipment financing from National Funding.
National Funding - Equipment Financing
Max loan
$150,000
Min. Credit score
600
Our pick for
Heavy equipment financing for bad credit
Triton Capital offers construction and heavy equipment loans to borrowers who have a minimum credit score of 575.
Triton Capital - Equipment financing
with Fundera by NerdWallet
Max loan
$250,000
Min. Credit score
575
Apr range
5.99-34.99%
with Fundera by NerdWallet
Our pick for
Heavy equipment financing with no down payment
With JR Capital, you can finance a variety of construction and heavy equipment purchases — no down payment required.
JR Capital Equipment Financing
with Fundera by NerdWallet
Max loan
$10,000,000
Min. Credit score
620
Apr range
6.99-18.00%
with Fundera by NerdWallet
Our pick for
Same-day heavy equipment financing
If approved, Balboa Capital can provide construction and heavy equipment funding within the same day.
Balboa Capital - Equipment Financing
Max loan
$500,000
Min. Credit score
620
Our pick for
Construction vehicle financing
Commercial Fleet Financing specializes in vehicle and truck financing. Through CFF, you can purchase dump trucks, excavators, dozers, mixer trucks, concrete plants and cranes, among other options.
Commercial Fleet Financing Equipment Financing
Max loan
$1,000,000
Min. Credit score
640
Our pick for
Established businesses
Wells Fargo offers a robust construction equipment financing program, with industry specialists available to help you find the best option for your needs. You’ll likely need multiple years in business and strong credit to qualify.
Wells Fargo Commercial Equipment Financing
Max loan
Undisclosed
Min. Credit score
700
What is heavy equipment financing?
How does heavy equipment financing work?
Construction and heavy equipment financing vs. leasing
- Payments. Equipment leases typically have lower monthly payments than equipment loans. You will, however, usually pay more over the course of the lease than you would with a loan.
- Ownership. With financing, you own your equipment at the end of the term. With a lease, on the other hand, the lender still owns the equipment. You may have an option to purchase it, or start a new lease agreement.
- Down payment. Equipment financing usually requires a down payment, which is not usually the case with leasing.
- Lifespan of equipment. Whereas your heavy equipment may become outdated during the loan term, leasing allows you to update your equipment once the lease concludes.
Where to get heavy equipment financing
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How to finance heavy equipment
1. Evaluate your financing needs
2. Review your business’s qualifications
3. Find the equipment you want to purchase
4. Compare heavy equipment financing companies
5. Gather your documents and apply
- Basic information about you and your business.
- Personal and business bank statements.
- Personal and business tax returns.
- Business financial statements.
- Down payment amount.
- Equipment quote.
Frequently asked questions
Methodology
Wondering if you qualify?
It’s possible to get a business loan even if you have bad credit. Bad-credit business loans are available from alternative sources, like online or nonprofit lenders.