Large hydraulic excavators and shovels load haul trucks in surface mines and quarries. They are some of the most expensive mobile equipment in any industry, so financing is usually structured around the operation’s cash flow and contracts.
Subject to credit approval and documentation.
Structured EFAs or leases with terms tied to contracts and component life are typical for large loading tools.
| 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, within soft-cost limits, when they are on the seller’s quote.
Expect to provide financial statements, customer contracts and equipment details, including hours and rebuild history for used units.
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.