Excavators, from mini excavators to large crawler models, are the most common heavy equipment purchase in construction. They hold value well and have an active resale market, which makes them strong collateral.
Subject to credit approval and documentation.
An EFA is the common choice. Contractors with seasonal work can ask for skip or deferred payments on approved deals so payments line up with the building season.
| 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.
Often, yes. The term reflects the machine’s age, hours and condition. Service records and recent undercarriage work help.
Yes. Attachments bought with the excavator can be on the same contract.
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.