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Business owners love that Lendio helps them get funding without the headaches.
Construction and heavy equipment financing and leasing, fast.
Apply for financing today to build your business, upgrade your equipment, or fund your next project.
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Proven construction and heavy equipment lending expertise.
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*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.
How much can I qualify for?
Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.
Lendio knows the construction and heavy equipment business.
Whether you’re looking to expand your operations or upgrade your current machinery, financing construction equipment can be an affordable solution for your business. You can find a range of financing structures to choose from, allowing you to benefit from competitive interest rates with either a secured loan or lease.
Bridge capital between contracts
Purchase or lease heavy machinery and tools
Refinance existing debt
Pay your operators
Invest in marketing
What type of commercial real estate funding is best for your business?
These are the most popular types of funding that other construction and heavy equipment-based businesses qualify for through Lendio.
Revenue-Based Financing
Access funding based on your future revenue and repay with regular payments.
Equipment Financing
Finance the tools and equipment you need to grow your business without breaking the bank.
Business Term Loan
Borrow a lump-sum with a set repayment schedule, and get funding quickly with online options.
What types of business loans are available to construction equipment businesses?
SBA Loan
SBA loans can be used to finance heavy equipment and related soft costs. There are several types of SBA loans designed for major asset purchases like equipment.
Term Length
10-30 Years
Max Loan Amount
$5 million
Term Loan
Term loans provide a fixed sum repaid in fixed monthly payments. Term loans can be used to cover any business expense including equipment purchases.
Term Length
6 months-10 years
Max Loan Amount
$2 million
Line of credit
A line of credit gives you ongoing access to funds you can borrow. So if you want to purchase some equipment now and wait to buy more as your projects grow, you can borrow only what you need at the time. And as you pay down your balance, your credit line is replenished and you can borrow more as needed.
Term Length
1-2 years
Max Loan Amount
Up to $500,000
FAQs
Find answers to some commonly asked questions in the construction and heavy equipement industry.
What is heavy equipment financing?
Heavy equipment financing is a type of loan where a lender or other financier provides funding for the borrower to purchase heavy equipment, like bulldozers. Lenders offer these loans for small businesses in the construction industry that either don’t want to use their working capital to buy the equipment up front or can’t pay for the equipment in cash. The borrower then repays the loan with interest over a specified time period. In heavy equipment financing arrangements, the heavy equipment itself usually serves as collateral for the funding. In some cases, additional collateral may be required to secure the financing.
What are the requirements to get a heavy equipment financing?
Each lender wants to feel confident that your construction company can repay the loan, and each lender’s requirements will vary. They may look at your business’ cash flow, credit score, and time in business, along with the type of equipment you want to finance.
What can I use heavy equipment financing for?
Heavy equipment financing can be used for any type of equipment or machinery your company may need, including bulldozers, pavers, lifts, compactors, and trucks.
How hard is it to get a heavy equipment loan?
Heavy equipment loans are not as difficult to qualify for as some other forms of financing, like a traditional term loan from a bank. If you have been in business for several years and have a credit score of 500 or above, you have a great chance of qualifying. The higher your credit score and the longer you’ve been in business, the higher the probability that you will qualify and get a favorable rate and term. If your business is very new, you might still qualify for heavy equipment financing if you have a higher credit score.
How many years can you finance heavy equipment?
Generally, heavy equipment financing has repayment terms that are linked to the expected lifespan of the equipment being financed. This is so the borrower isn’t paying a loan on equipment that can no longer be used. Expect heavy equipment loans to have repayment periods from one to five years, with some lenders offering terms up to 10 years.
What credit score do I need to finance heavy equipment?
This will depend on your lender. Some lenders will accept credit scores that are as low as 500, while others will only accept good credit scores (690 or higher).
How does financing construction and heavy equipment work?
The machinery being financed typically serves as collateral on a construction or heavy equipment loan. Depending on the lender and your qualifications, you can get a loan that is up to 100% of the value of the equipment that you are looking to buy. After that, you’ll repay your loan with interest.
Ready for funding?
See what you can qualify for on the Lendio Marketplace.