Construction Equipment Financing, Heavy Equipment Loans
One of the objectives of Halo Capital Group is to help businesses that rely on heavy construction equipment obtain the tools needed to do their jobs as efficiently and effectively as possible. We accomplish this goal by providing affordable heavy and construction equipment financing solutions to companies across the country. To get started, enter your details into the form on the right and a loan specialist will be in touch with you to discuss your options for funding.
Financing the Purchase of Heavy Equipment
Many construction companies, especially the newly established, do not have the working capital they need to make outright purchases of heavy equipment. Therefore, they must rely on financiers willing to provide monetary assistance in the form of heavy equipment loans or construction equipment loans.
One of the major advantages of working with the Halo Capital Group is that you are much more likely to get approved. We look at a variety of factors when determining your eligibility, such as your business cash flow, available collateral, and business credit rating. If you apply with us, you won’t be bogged down by large amounts of paper work and long waiting times. You’ll experience an expedited application process, along with competitive interest rates and flexible terms to provide your business with the framework it needs to succeed. Heavy equipment costs are enormous and many lending institutions choose not to provide this type of financial assistance due to high risk and government regulation. Our mission is to provide construction and heavy equipment finance solutions to give you predictable access to funding whenever you need it.
Financing Bad Credit Purchases of Heavy Equipment
Many companies that need a heavy equipment loan or a construction equipment loan may not have a good credit rating. New companies that are in the infant stages usually have not had the opportunity to establish a good credit rating. Even many older companies, for various reasons, have a less than perfect rating. They hold the erroneous opinion that getting heavy equipment financing with bad credit is an impossible feat.
Our financial group takes many things into consideration prior to making a decision on whether a company with bad credit is financially sound. Contact us today by filling out our form, and a representative will contact you to review your available financial options.
How to Choose The Right Heavy Equipment Financing Companies
Acquiring financing for heavy equipment can be confusing. Our best advice to you is to perform thorough research on multiple different loan providers and compare their rates and terms. Companies that finance the purchase of heavy equipment are plentiful and most are legitimate, but not all. Make sure to deal with reputable heavy equipment finance companies and thoroughly review and understand any purchasing agreement that may be presented to you.
Rates for Heavy Construction Equipment
When financing heavy equipment, all purchasing or leasing agreements hinge on the rates and terms for financing. Heavy equipment loan rates as well as construction equipment loan rates vary case to case because they are determined by the many different factors unique to your business. It is essential to fully understand the rates that are offered, as they will determine the true cost of any equipment.
Here are some basic financing structures that lenders may present to you:
- Some companies offer “smaller up-front payment programs” that allow for small payments at the beginning of the purchase period with larger payments or a balloon payment at the end.
- Some companies offer “buy-back programs” that allow monthly payments for a certain period at which time they will buy back the equipment at an established price.
- Some companies offer “equipment rental programs” that allow monthly rental payments and a limited number of usage hours with no obligation to purchase the equipment at the end of the agreement.
For more information about rates, fill out the form to the right and a representative will contact you to discuss your options.
A simple way to estimate the amount of monthly payments involved with purchases is to multiply the total amount of the proposed loan, times the financing rates times, the total number of years involved in repayment. You can use an online loan calculator to easily calculate this, and there are many available for you to choose. The total amount obtained through this calculator reflects an approximate figure and the final totals may vary. Loan financing charges and interest rates can be extreme. Use this calculator as a method to gain the knowledge needed to complete a worthwhile investment.
Financing Used Heavy Construction Equipment
In some cases, it is better for the company to purchase used heavy equipment or used construction equipment rather than equipment that is new. Our financial experts will work with you to determine the actions necessary to reach your company’s short and long term goals.