Construction Equipment Financing
“Financing For Construction Equipment”
Construction equipment leasing is available for all the major construction activities including but not limited to road construction, sewer construction, landscaping, building construction and general construction.
Here is a list of different types of construction equipment that are pre-approved for equipment financing by Canadian based lenders and leasing companies. While this list is far from exhaustive of what can be financed from this category of equipment, it should give you an idea of the more typical requests for financing we deal with.
Road Construction
- Grader
- Seal Coater
- Excavator
- Earth Moving
Equipment- Surveying Equipment
- Paver
- Paving Equipment
- Compaction Equipment
- Smooth Roller
Building Construction
- Crane
- Concrete Equipment
- Compressor
- Cement Mixer
- Jack Hammer
- Compactor
- Construction Lights
- Scissor Lift
- Cement Wagon
General Construction
- Skid Steer Loader
- Backhoe
- Trenching Equipment
- Crushing Equipment
- Bulldozer
- Crawler
- Loader
- Landscaping Equipment
- Wheel Loader
Loan and lease financing programs are available for both new and used construction equipment for construction applications all across Canada.
Because of the strength of the resale market for used equipment, and the long useful life for some of the heavy duty machinery, it’s possible to secure equipment financing with an asset age greater than 20 when the overall average for used equipment financing is under 10 years.
One of the benefits of construction equipment financing programs is the amount of leverage available to the business owner. In most cases, 100% financing of the equipment cost can be secured, allowing cash to be conserved for other purposes.
If you’ve just started an acquisition process, I recommend that you apply for credit right away and get pre-approved for a certain amount of capital for the particular type of equipment you’re after.
The pre-approval is almost as good as cash allowing you to bid more aggressively on new or used equipment knowing that the funds are going to be available for you to access if you’re bid or offer gets accepted.
And if you ever end up paying cash for an asset out of your cash reserves or line of credit, remember that you can refinance the purchase up to 6 months after the deal was finalized. Refinancing can be done through an equipment loan or a sale and lease back transaction through a leasing company.
Regardless of your situation or construction equipment financing needs, I suggest that you give us a call so that we can perform a quick assessment of your requirements and recommend the best options available.