What financing options are available for mini excavators?
Commercial Funding Partners offers qualified borrowers equipment loans and several lease structures, including capital leases, operating leases, tax leases, and FMV leases. The appropriate structure depends on the transaction, equipment use, desired end-of-term options, and cash-flow needs. CFP can also structure seasonal, step-up, deferred-principal, balloon, or custom amortization payments when the transaction supports them.
Can I finance a used mini excavator?
Yes. CFP finances qualified new and used commercial equipment, which can include used mini excavators. The equipment, seller, transaction size, borrower credit profile, and intended use are reviewed as part of underwriting. A well-documented equipment description, purchase price, seller information, and financial information help CFP evaluate the request and recommend an appropriate financing structure.
What is the minimum financing amount for mini excavator financing?
CFP’s equipment financing transactions generally begin at $250,000 per project. A single mini excavator may not meet that minimum on its own, but a larger request may qualify when it includes multiple machines, a fleet acquisition, attachments, or other eligible equipment and project costs. A structuring specialist can review the full purchase plan and discuss available options.
Can financing include mini excavator attachments and related costs?
When a transaction fits, CFP can finance up to 100% of eligible project costs. In addition to the mini excavator, eligible costs may include certain attachments and related expenses such as installation, engineering, software integration, freight, commissioning, training, and taxes. Eligibility is determined through the equipment appraisal, transaction structure, and credit review.
How do lease payments work for construction equipment?
Lease payments are structured around the agreed equipment cost, lease type, term, credit review, and end-of-lease option. CFP can consider seasonal schedules, step-up payments, deferred principal, balloon payments, and custom amortization to better align payments with business cash flow. Some lease payments may offer tax treatment advantages; businesses should consult their tax adviser for guidance.
How quickly can CFP review a mini excavator financing request?
CFP states that a structuring specialist responds to equipment financing quote requests within one business day. The time to a preliminary structure and final funding depends on the completeness of the request, transaction size, equipment details, credit review, vendor documentation, and any related project costs. Providing clear purchase and financial information supports an efficient review.
Can I use a sale-leaseback for excavators my business already owns?
Yes, a sale-leaseback may be available for eligible mini excavators and other owned equipment. Your business sells the equipment to CFP and leases it back, allowing continued operational use while releasing capital tied up in the assets. Businesses commonly use the resulting liquidity for working capital, expansion, acquisitions, recapitalization, or other strategic needs.
What information is needed to request mini excavator financing?
Start with the equipment quote or purchase details, including the mini excavator make, model, condition, price, seller, and any attachments or related costs. CFP will also need information about the borrowing business and its financing goals. For larger or more complex requests, project timelines, vendor invoices, and financial documentation may be required during credit review.