Backhoe loaders combine a loader and a digging arm in one road-capable machine. Utility contractors, municipalities and farms rely on them because they can drive between small jobs without a trailer.
Subject to credit approval and documentation.
An EFA suits most buyers. Contractors with steady municipal or utility contracts often choose level monthly payments.
| Equipment finance agreement (EFA) | You own it from day one. Fixed payments; usually eligible for Section 179. |
|---|---|
| $1-buyout lease | Lease payments, then you buy it for $1. Treated much like an EFA for tax. |
| Fair-market-value (FMV) lease | Lower payments. Return, renew or buy at market value at the end. |
Time in business, business and owner credit, revenue, and the equipment’s details: make, model, year, serial number and condition. Requests above $1M also need financial statements.
Equipment bought with an EFA or $1-buyout lease and placed in service by December 31 may qualify for a first-year deduction. Estimate your tax savings.
Need cash for delivery, training, materials or the ramp-up? Add working capital to the same application.
Yes. We confirm ownership and serial number and check for liens before paying the seller.
It depends on age, hours and credit. New backhoes are often financed over 36 to 72 months.
LenderCloud finances equipment from $10,000 to $10 million. Requests up to $1 million can usually be decided on the application alone; larger requests need financial statements. All financing is subject to credit approval.