Finance new or used directional drills in Florida while preserving cash for utility, fiber and underground projects. Explore financing options.
A horizontal directional drill can move an underground contractor into larger fiber, utility and infrastructure jobs, but the machine can also consume a major portion of working capital before the first bore is completed. Add locating equipment, tooling, trailers and support equipment, and the total project cost climbs quickly.
Directional drill financing in Florida can spread that equipment investment over time while preserving cash for labour, fuel, drilling fluid, tooling and project mobilization. The strongest files connect the drill directly to existing or awarded underground work.
Quick Answer: Directional drill financing and leasing in Florida can cover qualifying new and used horizontal directional drills for utility and underground construction businesses. Approval generally depends on business history, cash flow, equipment age and hours, purchase price, seller quality, existing debt and whether the drill is supported by identifiable revenue-producing work.
Commercial horizontal directional drills can receive financing consideration when the machine has identifiable specifications, market value and a clear business use. New equipment is generally simpler to evaluate, but properly maintained used drills can also make strong financing transactions.
Equipment can include:
Credit should know exactly what is being purchased.
Useful specifications include:
A financing request that says only “directional drill — $325,000” creates avoidable questions.
The internal equipment guidance specifically lists directional drills among hard commercial assets and emphasizes equipment details, requested structure and the reason the machine is being acquired.
Businesses planning a purchase can review Mehmi Financial Group's equipment financing and leasing options before committing substantial cash to the equipment.
Florida has a large construction base and continued transportation and broadband infrastructure investment, creating meaningful demand for underground utility work. The individual business still needs enough backlog and utilization to justify owning another drill.
The U.S. Bureau of Labor Statistics reported approximately 661,500 construction jobs in Florida in July 2026. That gives underground contractors a large market tied to residential, commercial, road and public-infrastructure development. (Bureau of Labor Statistics)
Florida's FY 2026–27 budget also includes $14.4 billion for the state transportation work program, including $4.9 billion for highway construction and maintenance and $1.4 billion for resurfacing 2,622 lane miles. Transportation work can create related utility relocation, conduit and underground-infrastructure requirements. (Florida Governor's Office)
For a Florida construction and underground utility contractor, those statewide numbers provide market context. Credit is more interested in the company's actual contracts, customers and expected drill utilization.
Broadband expansion can create another source of work for directional drilling contractors because fiber and conduit often need to cross roads, developed areas and other locations where open excavation is disruptive.
Florida's Office of Broadband reported that broadband infrastructure programs represented $612 million in awards, while participating internet-service providers had committed more than $888 million in total private investment across state-supported broadband initiatives. The federal BEAD final proposal was approved in January 2026, with deployment projects scheduled to begin in spring 2026. (Florida Jobs)
That does not mean every broadband project will use directional drilling.
It does mean contractors serving fiber installation, conduit placement and related underground work should evaluate whether their existing fleet can handle the potential workload.
Buying the drill first and hoping contracts follow is much riskier than acquiring the machine because awarded work already requires additional capacity.
Credit reviews the business and the machine together. The company needs the cash flow to support the payment, and the drill needs enough value and remaining useful life to make the transaction reasonable.
Key business factors usually include:
An established contractor has a track record showing revenue, project cycles, equipment payments and how it handles slower periods.
A newer company can still be considered, but industry experience, current contracts, liquidity and owner strength become more important.
Annual sales matter, but repayment comes from cash flow.
A $7 million utility contractor can still be stretched if it carries heavy equipment debt, slow receivables and several projects that require significant upfront labour and material expense.
Credit may review:
A company that has successfully financed excavators, vacuum equipment, trenchers or previous HDD units has demonstrated experience handling equipment obligations.
That can help when moving into a larger drill.
This is particularly important.
The file should explain:
Internal credit guidance similarly stresses explaining revenue generation, top customers, addition versus replacement and the equipment itself.
Down payment varies with credit quality, business history, equipment age, supported value and overall transaction risk. There is no one percentage that applies to every Florida HDD purchase.
More equity may be required when:
A stronger established contractor purchasing a current machine from a recognized dealer may receive a different structure.
Do not automatically put every available dollar into the down payment.
Directional drilling operations also need cash for rods, tooling, bentonite, locating equipment, fuel, crews, insurance and customer receivables.
At this decision point, use Mehmi Financial Group's equipment financing calculator to test different financed amounts before deciding how much cash to contribute.
Rates and final structures remain subject to credit approval and current market conditions.
Financing generally fits contractors that plan to operate the drill for many years, while leasing can provide a different cash-flow and end-of-term structure. The right answer depends on expected utilization and fleet-replacement strategy.
Financing may fit when:
Leasing may fit when:
Do not choose based only on monthly payment.
A lower monthly payment can come from a longer term or a larger amount remaining at maturity. The business should understand the complete obligation and expected value of the machine at the end.
Yes. Used directional drills can receive financing consideration when their age, hours, condition and purchase price remain commercially supportable. A used drill normally requires more asset information than a current new unit.
Important information includes:
Hours alone do not determine whether the machine is good.
A drill with 4,800 hours and complete service records can be a better asset than a 3,500-hour machine that has been poorly maintained and operated hard.
Higher-hour equipment should be supported with meaningful repair records.
If the hydraulic system, engine, undercarriage or major drilling components have been rebuilt, provide documentation showing the work, date and hours at completion.
Inspect the components that determine drilling performance and upcoming repair exposure. Exterior paint tells you almost nothing about whether the machine is production-ready.
Before buying, check:
A professional inspection may make sense on a higher-value or specialized machine.
The uploaded credit guidance specifically notes that inspections may be used to confirm asset specifications, condition, serial numbers and operation, while an appraisal may be requested when market comparables are difficult to establish.
Some directly related equipment may receive consideration, but the directional drill should remain the core hard asset. Break the project into individual components so the financing request is easy to understand.
A complete HDD setup might include:
Not every item has the same resale value.
A $500,000 project made up primarily of a recognizable drilling machine is easier to assess than a $500,000 request where a large percentage represents consumable tooling, training and miscellaneous project expenses.
Ask the vendor to itemize the quotation.
That also helps prevent a shortfall at funding when the customer assumed every accessory would automatically be included.
Potentially, but deposits and staged payments should be discussed before the purchase agreement becomes binding. Approval for a completed drill should not be assumed to cover every pre-delivery manufacturer payment.
Some larger or custom HDD packages may involve:
The internal financing guidance recognizes that interim or progress funding can be possible in some commercial equipment transactions, but it requires the payment structure and equipment documentation to be established in advance.
Do not sign a non-refundable purchase agreement requiring a large deposit within 48 hours and then start arranging financing.
Get the payment schedule reviewed first.
Show what the additional machine changes operationally. The strongest explanation uses current numbers rather than broad statements about growth.
A contractor could justify another drill because:
An addition should create additional production.
A replacement should solve a clear reliability, capacity or repair-cost issue.
If the company already owns two drills that average only 30% utilization, adding a third unit deserves a strong explanation.
A strong file ties the machine directly to existing underground work and gives enough equipment information to establish value.
Consider a Tampa-area underground construction contractor financing heavy equipment that has operated for eight years. The company currently owns two compact drills and wants to purchase a $425,000 mid-size HDD unit with approximately 2,100 hours to handle larger conduit and fiber projects.
The company provides:
It also shows an awarded underground infrastructure contract expected to produce approximately $1.4 million of work over twelve months.
The existing compact drills can handle service drops and small bores, but they do not have the capacity required for several larger crossings under the contract.
That gives credit a clear story.
The company is not buying a bigger directional drill and hoping to find work. The work is driving the equipment purchase.
Most delays come from missing specifications, weak value support or an incomplete explanation of how the drill will be used.
Common issues include:
One of the simplest improvements is to send the complete vendor quote and business explanation together.
Credit should not need three rounds of follow-up just to understand what the customer is buying.
Yes. Qualifying used directional drills can be financed when their age, hours, condition and purchase price are commercially reasonable. Provide complete machine specifications, serial number, current hours and maintenance history. Older or specialized equipment may require additional photographs, inspection or valuation support before funding.
Available terms depend on the machine's age, hours, supported value and the applicant's credit profile. Newer equipment typically supports more flexibility than older high-hour machines. The financing term should remain reasonable relative to the drill's expected useful life and is subject to credit approval and current market conditions.
Not every transaction requires the same cash contribution. Down payment depends on business history, credit strength, equipment age, seller quality and supported value. A larger contribution may strengthen a higher-risk transaction, but contractors should retain enough liquidity for labour, materials, tooling and normal operating expenses.
Potentially. A newer business should be prepared to demonstrate significant prior HDD or underground-construction experience, current work, adequate liquidity and a realistic operating plan. A first major equipment purchase becomes easier to understand when contracts or customer commitments already support the requested machine.
They may receive consideration when they are directly related to the directional drill and represent a reasonable portion of the overall transaction. Ask the vendor to itemize the drill, rod package, tooling and support equipment separately so credit can distinguish the main hard asset from more consumable items.
Yes, a multi-unit request may be considered when the business has enough cash flow and contracted work to support the total obligation. Provide the specifications and purchase price for every machine, current fleet information and a clear explanation of how the additional drilling capacity will be deployed.
A directional drill should create profitable underground production without using the cash needed to operate the crew that runs it.
Before committing, verify the machine's hours, hydraulic system, thrust and torque, tooling package, market value and expected utilization. Then match the financing payment to conservative project cash flow rather than best-case production.
For directional drill financing and leasing in Florida, call Mehmi Financial Group at (437) 777-5901 or submit the equipment details through Mehmi Financial Group's contact page.
.avif)
.svg){kind=small}