London ON Backhoe Financing | Fast 24–48h Approvals

Why London Contractors Finance Backhoes

Backhoes are the workhorses of Ontario construction. They handle trenching, landscaping, utility work, and site prep — making them indispensable for contractors in London ON. But with prices often between $70,000 and $150,000+, buying outright can strain cash flow.

Financing ensures London contractors can:

• Access equipment fast with 24–48h approvals.
• Preserve capital for payroll, fuel, and project materials.
• Choose between loans or leases based on ownership goals.
• Finance new, used, or private-sale backhoes with flexible structures.

That’s why many London-based builders, landscapers, and excavation firms partner with Mehmi Financial Group for backhoe financing built on speed and flexibility.

Fast 24–48h Approval Process

Unlike banks that can delay projects with 5–6 week approval timelines, Mehmi’s streamlined process keeps contractors moving:

1. Submit an online application in minutes.
2. Receive conditional approval within 24–48 hours.
3. Finalize documentation and release funds.
4. Take delivery of your backhoe — no lost project time.

👉 Preview monthly payments with our financing calculator.

Backhoe Lease vs Loan

Lease

• Lower monthly payments.
• Easy upgrades every 3–5 years.
• Payments treated as operating expenses.
• Ideal for contractors needing flexibility.
• See: Equipment Leases.

Loan

• Builds equity and long-term ownership.
• Deduct depreciation + interest.
• Higher upfront down payment than leases.
• Better for contractors keeping backhoes 7–10 years.
• See: Equipment Loans.

Sale-Leaseback

Already own a backhoe? Use a sale-leaseback to free up capital while continuing to use the equipment.

Who Benefits in London Ontario?

• Construction Contractors – handling residential & commercial builds.
• Utility Contractors – trenching, sewer, and municipal services.
• Landscaping Firms – managing large residential or estate projects.
• Startups – qualifying for low-doc, fast approvals when banks decline.

👉 Learn more on our Construction & Contractors industry page.

Case Study: London ON Contractor

Client: Small excavation business in London ON.
Need: Used backhoe for city utility contracts.
Challenge: Traditional bank quoted a 5-week approval and 20% down payment.
Solution: Mehmi structured a lease-to-own agreement, approved in under 48 hours with only first and last month upfront.
Outcome: The contractor won a new municipal contract, scaled operations, and plans to finance additional units.

Real-World Considerations for Backhoe Financing

1. Operating Costs

Backhoes typically consume 7–10 litres of diesel/hour and require consistent maintenance (tires, hydraulics, filters). Financing helps preserve capital for these ongoing expenses.

2. Seasonal Work in Ontario

Winter slowdowns can pressure cash flow. Seasonal or deferred payment structures let London contractors pay more during busy summer months and less in winter.

3. Municipal & Utility Bidding

Owning or financing backhoes can make contractors more competitive in municipal tenders, where equipment readiness is a factor in bid evaluation.

4. Resale & Trade-In Value

Backhoes hold residual value well. Financing ensures you can upgrade without full ownership risk, and leases make trade-ins simpler.

Why Choose Mehmi in London ON?

• Fast 24–48h approvals.
• New, used, and private-sale eligible: Eligible Equipment.
• Support for startups via In-House Financing.
• Asset-backed options for fleet operators: Asset-Based Lending.
• Browse inventory: Inventory.

FAQ: London ON Backhoe Financing

1. How fast can I get approved?
Most approvals close in 24–48h.

2. Do you finance used backhoes?
Yes, both new and used units are eligible: Eligible Equipment.

3. Do you accept private sales?
Yes, private seller transactions are fully financeable.

4. Do startups qualify?
Yes, via In-House Financing.

5. What are the tax benefits?

• Lease: Payments often fully deductible.
• Loan: Deduct depreciation + interest.

6. How do I compare lease vs loan?
Use our calculator.

7. Do you fund beyond London?
Yes, we serve contractors across Ontario.

Final Thoughts

For London Ontario contractors, backhoes are indispensable for trenching, site prep, and utility work. With 24–48h turnaround financing, cash flow–friendly structures, and private sale support, Mehmi Financial Group ensures you can scale equipment fleets quickly and reliably.

Apply online today for backhoe financing in London ON.

👉 Contact our credit analysts or explore our inventory.

‍