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Earthmoving and site equipment
Include the machine configuration, attachments, serial number, hours and service history.
CANADA & UNITED STATES
Heavy Equipment Financing
Match the machinery, purchase budget and repayment plan to the job.
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How heavy equipment financing works
Heavy equipment financing supports purchases such as excavators, loaders, dozers and other commercial machinery. A loan or lease should be assessed alongside condition, expected utilization, transport and maintenance costs.
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Learn how this financing option works and what to prepare for a discussion.
Start with what the business needs.
Replacement machinery
Compare the purchase with repair cost, downtime and the useful life remaining in the existing asset.
Additional capacity
Explain the work the asset will support, seasonal usage and any operators or transport arrangements needed.
Compare the agreement, not just the payment.
Condition and inspection
Obtain the available service records and discuss inspection requirements. Used machinery may need repairs before deployment.
Delivered and operational cost
Budget for transport, permits, attachments, installation, tax, insurance and initial maintenance as applicable.
Term versus useful life
Compare repayment commitments with the equipment’s expected use and maintenance needs. Do not choose solely on the periodic payment.
Finance the complete working setup
The machine is only part of the project
An excavator may need buckets or a hydraulic attachment; a crane may need transport and setup; a loader may require site-specific configuration. Itemize those costs with delivery, commissioning and training. Ask which can be included in the proposed financing. A complete quote helps prevent an approved machine purchase from leaving the business short of the cash required to put the asset to work.
Illustrative project budget
A contractor considers a $90,000 machine, $12,000 of attachments and $3,000 of delivery. A $25,000 contribution leaves a preliminary $80,000 gap before taxes, financing costs and operating reserves. This is a budgeting illustration, not an offer. The contractor should then test utilization, fuel, transport and maintenance costs against confirmed work and a slower season, rather than assuming every available machine hour becomes billable revenue.
Choose for the operating task
Explain lifting capacity, working environment, utilization and any specialist configuration. Excavators, dozers, wheel loaders, cranes and access equipment face different wear and resale conditions. A financing assessment does not establish safe capacity or suitability. Obtain the technical assessment needed for the job and distinguish verified contracts from prospective work when estimating how the purchase will support repayment.
Used machinery: document condition and ownership
Hours, maintenance and major components
Record serial numbers, hours, service history and known repairs. An inspection may identify wear in components that materially affect remaining useful life. Budget for necessary work and transport before relying on the asset for a new contract. Purchase price alone may not capture the real cost of putting a used machine into service, especially where parts lead times or specialist maintenance affect downtime.
Private purchases and auctions
Buying from another contractor or an auction may be considered subject to asset and transaction review. Provide seller information and evidence of ownership, and disclose existing finance where known. If a lien must be settled, confirm how payment and release will be coordinated. Do not assume an auction deadline or a signed bill of sale removes these requirements. Check financing conditions before making an unconditional commitment.
Location and mobility
Explain where the asset is stored and operated, whether it moves among sites and whether it crosses borders. Transport, insurance and any relevant operational requirements belong in the plan. For purchases in another currency, include conversion exposure and delivery-related costs. A machine suitable for one site or region is not automatically ready for another, and a financing agreement does not resolve those operating questions.
Match the financing decision to utilization
Seasonal receipts and payment patterns
If work is concentrated in certain months, provide a forecast showing both peak receipts and quieter periods. Seasonal or reduced-payment arrangements may be available for some requests, but are not automatic. Ask for the complete schedule and total cost. Payments deferred or reduced at one point can increase later obligations, so the structure should be tested across the full year rather than judged by the slow-season payment alone.
Buy, lease, repair or refinance
A purchase loan may fit equipment you intend to keep, while a lease requires review of its ownership and return conditions. For an existing asset, repair or refinancing may deserve a separate assessment. Compare the cost of downtime and remaining useful life without assuming that retaining old equipment is always cheaper. Each choice has different cash requirements, documentation and end obligations.
Plan for lower utilization
Calculate whether the business can carry the proposed payments when billable hours fall or a project is postponed. Include operators, insurance, maintenance and existing debt. If repayment depends entirely on one unconfirmed job, disclose that assumption. A disciplined decision asks how the equipment fits the business under a reasonable downside, not simply whether the monthly payment looks small beside the machine’s advertised earning potential.
A practical comparison checklist
Review point
Purchase financing
Lease structure
Existing equipment
Ownership
Read purchase and security terms
Check lessor ownership and purchase options
Distinguish refinance from sale-leaseback
Cash at the start
Contribution and eligible project costs
Advance rentals, deposits and charges
Net proceeds after payouts and fees
During the agreement
Payments, maintenance and insurance
Rentals and operating responsibilities
New obligations alongside existing needs
At the end
Any final balance and security release
Buyout, return or renewal conditions
Ownership outcome and remaining payments
Use this checklist to compare actual proposals for the same asset and period of use. It does not establish that a particular structure is available or cheaper. Record the answer to each question, including amounts still payable at the end, so the comparison reflects the complete commitment rather than a selected monthly figure.
Explore equipment examples
Relevant equipment can include Bobcat, Caterpillar 140 motor grader, John Deere 1050K dozer, Volvo. These links provide equipment context; brands are examples, not partners or endorsements. Eligibility depends on the specific asset, condition, seller and financing review.
For a dealer quote, ask for a clear equipment specification and itemized extras. For an auction or private seller, clarify ownership, inspection and payment conditions before committing. An equipment page or brand listing is not a pre-approval for a particular purchase. Keep the intended location, currency and operating purpose consistent across the quote and application so the review addresses the real transaction.
What to prepare
These details help frame the review. Additional documents may be requested for your business, location or proposed transaction.
Machine and seller information
Quote, make, model, year, serial number, hours, condition, attachments and seller details.
Operating plan
Intended work, location, utilization and replacement or expansion purpose.
Business and financial records
Business details, existing obligations and financial information requested for assessment.
Build a complete request
Include the equipment quote, business location, intended use and available financial records. For used or privately sold equipment, ask which ownership, inspection and lien documents are needed.
From enquiry to a considered decision.
01 / Share the request
Describe the business, equipment, location and purpose. Include the quote or asset schedule when available.
02 / Complete the review
Respond to requests for documents and clarify the available structure, costs, conditions and any outstanding checks.
03 / Review before committing
Read the written agreement and confirm obligations, conditions and next steps before signing or committing to the purchase.
Canada and United States: confirm the local requirements.
Tell us where your business is registered, where the equipment will operate and the transaction currency. We serve businesses in Canada and the United States; individual products and transaction structures vary by location.
Canada
Include the province or territory, business registration and equipment location. Confirm applicable taxes, documentation and security requirements in the written proposal.
United States
Include the state, business entity and equipment location. Confirm state-specific availability, documentation, taxes and any security requirements before committing.
Explore your industry
Find guidance for your sector and how your business operates.
9 industries · Swipe, scroll or choose a group below.
Transportation & logistics
Explore financing considerations for carriers, logistics businesses and freight operations.
Explore industry →Construction & contractors
Plan around project costs, contract timing and day-to-day business needs.
Explore industry →Manufacturing & wholesale
Explore financing for production, order cycles and wholesale operations.
Explore industry →Farming & agriculture
Consider seasonal cash flow, operating needs and long-term farm investment.
Explore industry →Restaurants & hospitality
Explore financing for food-service businesses, hospitality operations and growth.
Explore industry →Medical, dental & wellness
Plan financing around practice operations, patient services and business expansion.
Explore industry →Technology & business services
Explore financing considerations for project delivery, hiring and growth.
Explore industry →Forestry, mining & energy
Consider contract cycles, operating requirements and investment in resource businesses.
Explore industry →Aviation & marine
Explore financing considerations for commercial aviation and marine operations.
Explore industry →Frequently asked questions
Can I finance a machine at auction?
Discuss the auction, asset and payment deadline before bidding. Equipment acceptance, inspection and transaction requirements must be confirmed.
Can attachments be part of the request?
List each attachment with its value and intended use. Confirm whether the proposed agreement covers it.
Can a new contractor apply?
Provide experience, work arrangements, financial information and available contribution. Requirements vary by business and program.
What if my current machine needs a major repair?
Compare repair cost, downtime and expected life with replacement. Repair financing and an equipment purchase address different needs.
Can I apply before choosing equipment?
You can discuss a planned purchase before selecting the final asset. A discussion or preliminary review is not an approval. A specific quote, seller and equipment details may be needed to complete the assessment.
How long will the review take?
Timing depends on the application, supporting documents, equipment and transaction checks. Ask what remains outstanding and when to expect the next update; no approval or funding timeframe is guaranteed.
Financing guides for your next step.
CANADIAN FINANCING GUIDE
Heavy Equipment Financing Checklist — Canada
Prepare the equipment details and business records for a heavy-equipment financing review.
Read article →CANADIAN FINANCING GUIDE
Used Equipment Financing Canada Guide
Review asset condition, seller information and the documents needed for a used-equipment request.
Read article →Explore related financing options.
Use estimates as a planning aid. Actual costs and conditions depend on the written proposal.
Equipment financing calculator →Explore the operating context.
Construction and contractor financing →Consider the machinery alongside the costs and timing of the work it supports.
Tell us what you are planning.
Start with the business location, equipment or assets, and the purpose of your request.
Apply for financingFinancing is subject to application review and approval. Availability, terms, costs and documentation vary by product, business and location. This page provides general information and is not a financing offer. Tax and accounting treatment should be reviewed with your adviser.