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Before you buy or lease that excavator, get clear on your options, terms, and approval tips.
Apply now for Heavy Equipment Financing and get pre-approved in minutes.
FREQUENTLY ASKED QUESTIONS
This type of financing is designed for machinery like bulldozers, excavators, cranes, and other high-cost construction or industrial tools. The loan or lease agreement helps you spread out payments rather than pay everything upfront. In many cases, the equipment itself secures the loan, reducing the need for extra collateral. You’ll still want to compare terms to ensure they fit your project timeline and cash flow.
Construction, manufacturing, agriculture, mining, transportation, and waste management companies often rely on heavy equipment loans. Any operation needing large, commercial-grade machinery can benefit. These businesses tend to face high upfront costs and use financing to maintain cash flow without delaying operations. Lenders familiar with your industry may also offer better terms.
Loan sizes typically range from $25,000 to $500,000 or more, depending on your business finances and the type of equipment. Newer businesses or those with a lower credit score may qualify for smaller amounts at first. Larger loans are usually available to companies with consistent revenue and a clear repayment plan. Some lenders offer custom limits based on equipment value.
Rates vary, but most fall between 6% and 30%, depending on credit, business history, and whether the equipment is new or used. Repayment terms usually span from 12 months to 7 years. Some lenders offer flexible repayment based on seasonal income or project timelines. It's worth comparing multiple offers to find the most affordable solution.
Used equipment is often financeable, although some lenders may have limits on the age or condition. The key is showing the machine still holds strong value and meets safety or performance standards. Providing maintenance records and a detailed quote can help move your application along. In some cases, used machinery financing comes with shorter repayment terms.
That depends on your long-term goals. Leasing tends to offer lower monthly payments and flexibility to upgrade equipment regularly. Purchasing gives you ownership and may be better if the machine will be used for many years. Some lease agreements offer a buyout option at the end, giving you flexibility without a major upfront investment.
If your paperwork is in order, you could be approved in as little as 24–48 hours. Funding timelines depend on the lender and how quickly you submit documents like bank statements, quotes, and tax returns. In general, larger loan amounts take longer to finalize. Being responsive helps keep the process moving efficiently.
Be ready to provide your business license, ID, a recent credit report, and financial statements. You’ll also need a quote or invoice for the equipment and may be asked for insurance details. If the loan is over a certain amount, tax returns or proof of revenue may be required. Organizing everything in advance can speed up approval.
Lenders may still consider new businesses, though your approval often depends on personal credit, upfront investment, or a co-signer. Instead of focusing solely on business history, some lenders assess your overall financial stability and future earning potential. Submitting a clear business plan and detailed equipment request can improve your chances. While rates might be higher, financing can still be within reach if you’re well-prepared.
A good lender will understand your industry and be transparent about their fees, timelines, and repayment terms. Look for clear communication, tailored equipment options, and customer support that doesn’t stop after you sign. Comparing lenders also helps reveal hidden costs or differences in contract flexibility. Choose one that aligns with your needs—not just the cheapest rate.
HOW IT WORKS
Learn how the Heavy Equipment Financing process works—from submitting your application to getting approved and funded.
Complete a simple online application with basic business details.
Receive a funding decision within hours, with no lengthy paperwork.
Once approved, access up to $750,000 in your account in as little as 48 hours.
Choose custom repayment terms (6-24 months) that work for your business.
Start your Heavy Equipment Financing application today and move closer to getting the funds your business needs. Get fast approval, flexible terms, and support for all credit types.
Disclaimer: Funding amounts, approval times, and terms are subject to eligibility and lender review. Ingot Capital does not guarantee loan approval. Loan terms may vary based on creditworthiness, business financials, and other factors. Additional terms and conditions may apply.