Machines make a crew faster and let you bid bigger jobs. They also cost real money before the first invoice. Here is how to think about financing the iron.
Apply Now →Every contractor eventually faces the same choice. Renting keeps cash free but costs more over a long job. Buying outright ties up cash that payroll needs. Financing sits between the two and spreads the cost of the machine across the months it earns money.
Equipment financing is generally built around buying a specific asset. How any particular deal is structured, including what secures it, is set out in the offer. Read it before accepting.
| Situation | Leans toward |
|---|---|
| One short job needing a specialty machine | Renting |
| Machine will work across many jobs for years | Financing |
| Cash is ample and the machine is cheap | Paying outright |
| Several machines needed at once to take a larger contract | Financing, possibly bundled |
Before buying, estimate how many billable days per month the machine will run. A skid steer used every week pays for itself in saved rental and shorter jobs. One that sits idle between big projects is a fixed payment with no matching income. Honest utilization planning is more valuable than any financing advice.
The basics on our side: amounts from $25,000 up to $5,000,000, funded in as little as 24 hours once things are in order. We consider FICO 500 and up, review roughly three months of business bank statements, and do not ask for tax returns. You can start the 5-minute application with a soft credit pull, and sole proprietors are welcome.
Say a contractor is bidding a larger job that requires two machines and a trailer, together costing about $120,000. Paying cash would drain the account that funds payroll for the entire job. Financing spreads the cost while the machines work. Round numbers here are for illustration only, not a quote, and say nothing about any offer.
A funder wants to see that the business is active and that the equipment fits it. Having the following ready tends to shorten the process:
You can start the application in about 5 minutes. It uses a soft credit pull, so it does not add a hard inquiry.
New York construction does not run at the same pace all year. Cold, snow and frozen ground slow or stop some trades, while others, such as interior work, carry on. A machine payment keeps arriving in January whether or not the machine is moving dirt. Before you finance, picture your slowest month and check that your deposits can carry the payment alongside payroll and insurance. If one machine works across several trades or seasons, it is easier to justify than one that sits on a narrow slice of the calendar.
Ask when you apply and confirm the details in your offer. We cannot promise a specific item will qualify.
That is under our minimum. A smaller purchase may be better handled from cash or other sources.
No tax returns are required. We review about three months of bank statements.
Sole proprietors can apply, and your statements show what the business has been doing.
Three months of business bank statements and a 5-minute application. FICO 500+ considered. $25,000 to $5,000,000, funded in as little as 24 hours.
Apply Now →It takes about two minutes and it will not affect your credit score.
No obligation • No impact to your credit score
