Heavy Equipment Financing Matched to the Machine

Heavy equipment financing, sometimes called heavy machinery financing, is a loan used to buy machinery such as excavators, dozers, loaders and trucks, with the equipment itself serving as collateral. You choose the machine and the seller, Coast pays the vendor, dealer or private party directly, and you repay through fixed monthly payments over 2 to 5 years. When the final payment clears, the equipment is fully yours. It is how contractors and operators put $10,000 to $5,000,000 of heavy machinery to work while keeping cash reserves for the business.

Start with the quote. Submit a one-page application along with the invoice, quote or bill of sale for the machine you have chosen, and for purchases up to $150,000 that is all it takes. Your dedicated Business Funding Advisor confirms the program and helps you choose a 2, 3, 4 or 5 year term, with approvals typically back within 24 to 48 hours. Coast then pays the seller directly and you take delivery. Larger requests may call for tax returns or financial statements, and your advisor tells you what is needed upfront.

Yes. Construction equipment financing is one of Coast’s specialty equipment programs, alongside heavy machinery and fleet vehicles. Coast funds general contractors, homebuilders and the trades, and construction equipment loans run from $10K to $5M with the same 2 to 5 year terms and fixed monthly payments. When the job needs more than the machine, the same advisor can structure capital for mobilization and payroll through Coast’s financing for construction contractors.

Yes. Excavator financing, skid steer financing and dump truck financing all sit inside Coast’s equipment financing program, along with backhoes, bulldozers, loaders, cranes and commercial trucks. If the equipment is essential to how your business makes money and priced at $10,000 or more, it is likely a fit. The terms are the same whatever the machine, so excavator financing and skid steer financing both run 2 to 5 years with fixed monthly payments. Your advisor can confirm eligibility for your specific machine in one conversation.

Yes. Coast finances new and used equipment with up to 100% financing, so used heavy equipment financing works the same way as a new purchase. If you have an invoice or purchase agreement in hand from a dealer, an auction or a private seller, our equipment team can typically move on it quickly, and Coast pays the seller directly. The one requirement is that the seller has a U.S. presence, so plan sourcing accordingly.

Coast writes equipment terms from two to five years, with fixed monthly payments. The term is matched to the working life of the asset, so a machine that will still be earning in year five can carry a longer term than one with a faster replacement cycle. Your advisor walks through the options with you at pre-approval, and on most programs you can pay off early without penalty.

It depends on how long you will run the machine. With a heavy equipment loan you own the equipment, and every payment builds toward full ownership. With heavy equipment leasing the lessor owns it and you pay for the right to use it, typically returning, renewing or buying it out when the lease ends. Financing usually suits long-life machines you will use for years. Coast offers both structures, and your advisor can run them side by side.

The strongest approvals for heavy equipment loans go to businesses with two or more years of operating history, $200,000 or more in annual revenue and a FICO score above 640, though those are not hard cutoffs. There is no hard credit pull to explore your options. A hard inquiry applies only to certain traditional products — larger equipment deals and SBA loans — and then only with your consent, after an approval you have chosen to move forward with. If equipment financing is not the fit, your advisor can point you to a Coast program that is.