A quick funding process that offers equipment loans to business owners.
Last Updated on April 14, 2025
Shield Funding TeamAlternatively, a new and improved machine could save you money by reducing manual labor or making a project go faster. You might currently have to turn down jobs because you don’t have the proper equipment. Investing in new equipment could help you grow your business.
There are many reasons that it could be time for a small business owner to purchase new heavy equipment. Taking out a loan to fund these purchases, and preserving your cash reserves for working capital needs, is often your best choice. If you’re ready to apply for a heavy equipment loan now, you can apply online in just a few minutes.
But if you want to learn more about heavy equipment financing, here’s the scoop.
Apply For Your Heavy Equipment Loan Today!
What Do I Need to Qualify?
Below is a list of the general requirements to get approved for business funding with our basic program.
How Do I Apply?
Applying has never been easier. You can either call our toll free number 24 hours 7 days a week at:
OR
If you don’t want to wait for an equipment appraisal, haven’t been in business for a year, or need more than you qualify for under a heavy equipment loan, a short term loan might be your best option. These loans also have the bonus of paying it off quickly, sometimes in just a few months, a great option if you plan to take 100% of the equipment’s cost as a deduction your first year.
Alternative lenders offer short term business loan with terms of just six to twenty-four months with interest rates of 9% to 45%. To apply for a short term loan you must have been in business for a minimum of two years and need a credit score of at least 650.
Your construction business’ minimum monthly revenues must exceed $10,000 and there are no prepayment penalties. If you want to pay off the loan quickly – for personal reasons or because you don’t need loan interest deductions in future years – a short term loan could be better for your business than an equipment financing loan.
Businesses have a lot of day-to-day expenses, and that’s what working capital funding is for. Whether it’s covering payroll, stocking inventory, or taking advantage of a marketing or advertising opportunity, these loans help you with the more mundane expenses of running a business.
Like our term loans, you can get up to $1,000,000 in working capital. You still get the option of terms between 12 and 36 months and interest rates from 9–45%. You’ll need to have two months in business, and at least $10,000 in monthly revenue to qualify. You’ll also need a credit score of 650 or better.
If you meet these qualifications, you can get the funding you need the same day to cover any expense you might come across, from an emergency repair to making sure your inventory is full.
Unfortunately, the ups and downs of the construction industry over the past few years could have negatively impacted your business and damaged your credit score. If you had to borrow significantly at some point, and saw your credit score slip, traditional lenders may decline your loan application.
Banks reject about the same number as loan applications as they approve. While your credit score could qualify you for bank financing, other factors also lead to a loan application’s rejection, too. They often want to see that you’ve been in business over five years, or have significant cash reserves.
Alternative lenders offer the merchant cash advance program to borrowers with blemishes on their credit histories or who can’t qualify for traditional financing for other reasons. You could use the proceeds from those loans to rent or purchase equipment to get the project done.
If your business generates minimum monthly revenues $8,000 and you have a credit score above 500, you can qualify for financing with an alternative lender for terms of two to eighteen months. Shield Funding gives borrowers loans in amounts ranging from $5,000 to $1 million, at rates of 12% to 45%.
If you know that it’s time to take out a heavy equipment financing loan or another loan to purchase the equipment your business needs to be successful, apply for a loan today! It takes just a few minutes online, and your loan could be funded within a few days.
Apply for Heavy Equipment Financing!
Work with Shield Funding to bring the market’s direct lenders to the table and have them compete for your business. You can save money and get funded the same day in many cases.
Heavy equipment loans are a reliable way for business owners to finance the purchase of essential machinery without draining their cash reserves. These loans are ideal for companies that need to invest in new or used equipment to stay competitive, scale operations, or replace older machines. Loan amounts typically range from $10,000 to $1 million, and since the equipment being financed usually serves as collateral, you won’t need to put up additional assets. Approval depends on factors such as your business’s financial strength, time in operation, and revenue, with many lenders offering flexible terms and competitive interest rates.
For businesses with less-than-perfect credit or limited financing options, alternative equipment loan programs are also available. These allow more business owners—especially those turned away by traditional banks—to access the capital they need. Whether you’re in construction, manufacturing, or any other industry that relies on equipment, our financing solutions are designed to help you secure the tools required to grow and operate efficiently.
Heavy equipment loans give business owners a practical way to get the machinery they need without draining their cash reserves. Whether you’re replacing aging equipment, expanding operations, or starting a new project that requires specialized tools, these loans let you finance the cost over time—so you don’t have to delay important upgrades or purchases. They’re especially helpful when you need to act fast, such as jumping on a limited-time deal or replacing a critical piece of equipment that breaks down unexpectedly.
These loans typically offer fast approvals, flexible repayment terms, and predictable monthly payments with fixed interest rates. By financing your equipment instead of paying upfront, you can preserve your working capital and keep your operations running smoothly. If your business relies on heavy machinery to stay efficient and competitive, an equipment loan can be the key to making smart investments without financial strain.
A loan payment should never jeopardize ongoing operations. Before you apply for a loan, analyze the loan’s payment’s impact on your budget. Can your business’ cash flows cover daily operating expenses and the monthly loan payment? If not, reconsider borrowing that much money.
A loan payment is made up of a portion of the loan’s capital with interest added to it, spread over the repayment term. Reducing how much you borrow leads to a smaller loan payment because you’re repaying less borrowed capital and the interest due is calculated on a lower amount. Ask your lender for an estimated loan payment when you apply, and use this payment to calculate the loan’s impact on cash flows. And always have a plan for how you’ll repay the loan.
When applying for a heavy equipment loan, it’s important to clearly define why you need the funds. Whether it’s to replace a broken-down loader or invest in a new excavator for an upcoming contract, knowing exactly what you’re financing helps you determine how much to borrow. Asking for too little could leave you short of what you need to complete the purchase, while borrowing too much means you’ll pay unnecessary interest and fees.
It’s also important to match your financing needs with the right lender. Some equipment lenders have minimum or maximum loan amounts they’re willing to approve, so if you’re only looking to borrow $10,000 and a lender starts at $50,000, you’ll want to look elsewhere. Before applying, list the equipment you plan to purchase and get price estimates—this will help you borrow the right amount and approach lenders that can meet your specific needs.
Heavy equipment loans are a great option for business owners who need to acquire machinery without disrupting their day-to-day cash flow. These loans often come with reasonable interest rates and flexible terms, allowing you to invest in new or used equipment essential for productivity and growth. Since the equipment typically serves as collateral, the approval process can be more accessible than unsecured financing—especially for established businesses with steady revenue.
Even if your credit isn’t perfect, there are alternative financing solutions available that can help you secure the tools you need. Before applying, it’s important to look at the full cost of the loan and make sure the monthly payments fit within your operating budget. By aligning the loan with your business goals and making sure it supports efficiency or revenue growth, an equipment loan can be a smart and strategic way to move your business forward.
Qualifying for a heavy equipment loan depends on several key aspects of your business’s financial profile. While your credit score is taken into account, lenders often focus more on your company’s overall financial strength, including revenue trends, time in business, and current obligations. The equipment itself typically acts as collateral, which can make it easier to get approved—even if your credit isn’t ideal. Lenders also assess whether the equipment is essential to your operations and likely to retain value.
Maintaining steady cash flow and showing consistent deposits through your business bank account can significantly boost your chances of approval. Demonstrating that the equipment will contribute to productivity or business growth helps reassure lenders that the investment is worthwhile and that your business will be in a strong position to repay the loan.
The amount you can qualify for with a heavy equipment loan is based on several factors, including the equipment’s purchase price, your business’s financial health, and the equipment’s ability to hold its value. In many cases, lenders are willing to finance up to 100% of the cost for qualified applicants, especially if the equipment has strong long-term use and resale potential. Your business’s cash flow, length of time in operation, credit score, and the role the equipment plays in your day-to-day operations all help determine your eligibility.
Lenders want to see that the investment will directly support your business’s success, so demonstrating how the equipment will improve efficiency or generate revenue can work in your favor. Businesses with steady income and a clean financial track record often qualify for higher loan amounts and more favorable terms.
Heavy equipment loans are repaid through fixed monthly installments that begin shortly after the loan is issued. Each payment includes both principal and interest, and the consistent structure allows you to easily plan and budget for repayment. Since the equipment serves as collateral, lenders often offer more favorable interest rates compared to unsecured loans, which helps keep borrowing costs manageable. This setup not only supports smoother cash flow but also lets your business build equity in the equipment over time—making it a practical and predictable way to invest in the tools you need without overwhelming your finances.
This is likely one of the most important benchmarks you will use to compare lending options. If one lender offers a better interest rate than the other and all other things remain the same you can have a good idea of the rate comparison. You must keep in mind that different products such as credit cards or car loans work using traditional financing interest rates and APR, but many alternative funding programs quote in a factor rate or annualized interest rates so try to compare options based on the types of loans they are most similar to. And ultimately it will come down to what you have to pay back when all is said and done.
When comparing lending options, whether quoted in factor rates, interest rates, or any other framework, what is most important is what you will pay back when all is said and done. For this reason you should always try to look at what you will pay over the entire life of the loan.
Yes, many lenders offer financing for both new and used heavy equipment. However, the terms for used equipment may differ, with factors like the equipment’s age, condition, and resale value influencing loan approval and interest rates. It’s advisable to provide maintenance records and ensure the equipment is in good working order to enhance financing prospects.
Down payment requirements can vary based on the lender and your credit profile. Some lenders may offer 100% financing, especially for borrowers with strong credit and financials. Others might require a down payment ranging from 10% to 20% of the equipment’s purchase price.
Longer loan terms generally result in lower monthly payments but may lead to higher total interest over the life of the loan. Conversely, shorter terms typically have higher monthly payments but lower total interest costs. Choosing the appropriate term depends on your cash flow and financial strategy.
Many lenders allow the inclusion of “soft costs” such as delivery, installation, and training expenses in the total loan amount. This can help preserve your working capital by covering all associated costs within a single financing package.
A wide range of heavy equipment can be financed, including excavators, bulldozers, cranes, backhoes, loaders, and more. Both new and used equipment are eligible, provided they meet the lender’s criteria regarding condition and value.
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