Loan on Construction Equipment
Tips to getting a Loan on Construction Equipment
What: Loan on construction equipment needed by Companies.
Who: All Businesses in the Construction Industry.
Credit Scores of 500 FICO and higher may qualify.
Why your request is a Deal:
- Strong and well priced collateral.
- Buyer’s track record.
Apply Below, Or call 919-771-4177.
Why use a purchase loan instead of a Cash Advance?:
The customer gets terms for 24, 36, or 48 months.
Payments are also much lower than an MCA.
Customers can use this monthly savings for other things.
Approval TIPS:
- Asset for loan should not be more than 5-10 years old.
- It should be in good condition.
- Hours should not be high based on the year.
- Purchase from a Dealer not a Private Seller.
- Have Equipment pictures ready when making the financing request.
- Provide Model and Serial numbers for loan request.
Buy from a Dealer:
Dealers have clean titles. They usually guarantee the equipment, so Lenders take less risk.
Private sales may have hidden liens.
Does your business need other Pieces? Get a
loan for a Skid Steer here?
Do you have Construction Equipment and now need new Customers? Learn how to win Contracts with the SBA’s help.