Quick Answer

Construction equipment financing covers excavators ($30K–$1.2M), bulldozers ($75K–$2.8M), wheel loaders ($75K–$7M), cranes ($200K–$10M+), skid steers ($25K–$100K), and more. Terms run 36–84 months. Caterpillar, Komatsu, and John Deere are easiest to finance with lowest rates due to strong resale values. XCMG and SANY offer 30–50% lower prices but require specialty lenders and slightly higher down payments.

Complete Financing Guide

Construction Equipment Financing

From a $25,000 mini-excavator to a $10,000,000 crawler crane. From compact track loaders to large asphalt pavers. This guide covers financing options, brand comparisons, licensing requirements, and income potential for every type of construction equipment — with real payment estimates and what lenders actually require.

Explore Financing Options → 📞 (919) 907-2611
$25K–$10M+Equipment Price Range
36–120 moTypical Loan Terms
10–20%Typical Down Payment
620+Credit Score (preferred)

Key Facts: Construction Equipment Financing

Price Range$25,000 – $10,000,000+
Top BrandsCaterpillar, Komatsu, John Deere, Volvo CE, Liebherr
Down Payment10–20% typical; 0% for strong credit
Loan Term36–84 mo standard; up to 120 mo for large cranes
Credit Score620+ preferred; alt lenders from 550+
OEM Financingequipment lenders, equipment lenders, equipment lenders

Overview

What Is Construction Equipment Financing?

Construction equipment financing is a secured loan or lease used to purchase heavy earthmoving, lifting, compaction, or paving equipment for contractors, construction companies, municipalities, and owner-operators. The equipment serves as collateral, enabling lenders to offer competitive rates even to contractors with limited credit history. Unlike general business loans, construction equipment lenders primarily underwrite based on the equipment's value, the contractor's job history, and — for large transactions — the company's financial statements.

Construction equipment spans an enormous price range and risk profile. A $35,000 mini-excavator is relatively easy to finance for almost anyone with decent personal credit. A $3,000,000 all-terrain crane requires full financial underwriting, proof of operator certification, and typically a large down payment. Understanding where your specific equipment falls in this spectrum helps you approach the right lenders with the right documentation.

The construction equipment finance market is dominated by OEM captive lenders: Caterpillar Financial Products (equipment lenders), equipment lenders, equipment lenders, and Volvo Financial Services each offer manufacturer-specific programs through their dealer networks. These programs often offer 0% APR promotional rates for specific models, extended terms, and dealer incentives. Third-party equipment lenders — including banks, credit unions, and specialty finance companies — fill the gaps for non-OEM brands, used equipment, and borrowers who don't qualify for dealer programs.

Equipment Prices & Terms

Construction Equipment Financing by Type

Equipment TypePrice Range (New)Top BrandsTypical Term
Mini Excavators 1–6 ton$30K–$90KCat 301–306, Kubota KX018–U55, Bobcat E10–E60, John Deere 17G–60G, XCMG XE15U, SANY SY16C36–60 mo
Small Excavators 6–15 ton$90K–$200KCat 308–318, Komatsu PC78–PC138, John Deere 75G–135G, Volvo EC80–EC140, SANY SY75C36–72 mo
Medium Excavators 15–30 ton$200K–$380KCat 318–330, Komatsu PC190–PC228, John Deere 210G–290G, Hitachi ZX210–ZX290, SANY SY215C48–84 mo
Large Excavators 30–60 ton$380K–$750KCat 330–352, Komatsu PC300–PC360, John Deere 350G–470G, Liebherr R918–R938, SANY SY365H48–84 mo
Ultra-Large Excavators 60+ ton$750K–$1.5M+Cat 374–395, Komatsu PC490–PC650, Liebherr R950–R980, Hitachi ZX670–ZX87060–84 mo
Crawler Dozers Small (D4/D5 class)$120K–$250KCat D3–D5, Komatsu D37–D61, John Deere 650K–700K, Case 850M, Liebherr PR71648–72 mo
Crawler Dozers Large (D6–D11 class)$280K–$2.8MCat D6–D11 XE, Komatsu D65–D475, John Deere 750K–1050K, Liebherr PR73648–84 mo
Skid Steer Loaders$25K–$80KBobcat S66–S850, Cat 226D3–272D3, John Deere 318G–332G, Case SR130–SR250, Kubota SSV6536–60 mo
Compact Track Loaders$35K–$100KBobcat T64–T870, Cat 239D3–299D3, John Deere 317G–333G, Case TV380, Kubota SVL6536–60 mo
Wheel Loaders Small (3–5 ton)$75K–$200KCat 906–926, Komatsu WA150–WA270, Volvo L50–L70, John Deere 324G–344G36–72 mo
Wheel Loaders Medium (5–10 ton)$200K–$450KCat 930–950, Komatsu WA320–WA430, Volvo L90–L120, John Deere 624K–724K, Liebherr L52448–84 mo
Wheel Loaders Large (10+ ton)$450K–$7MCat 966–994K, Komatsu WA470–WA900, Volvo L150–L350, Liebherr L550–L58660–84 mo
Motor Graders$180K–$600KCat 12M3–24M, Komatsu GD505–GD825, John Deere 620G–872GP, Volvo G930–G97648–84 mo
Rough Terrain Cranes$200K–$900KManitowoc Grove RT530–RT9130, Link-Belt RTC-8090, Tadano GR-800XL–GR-1000XL48–84 mo
All-Terrain Cranes$500K–$3M+Liebherr LTM 1050–1750, Manitowoc Grove GMK 3060–GMK 6400, Tadano ATF 70G–800G60–84 mo
Crawler Cranes$500K–$10M+Manitowoc 6010–31000, Liebherr LR 1130–LR 11000, Kobelco CK800–CK330060–120 mo
Boom Lifts / AWP$40K–$200KJLG 340AJ–1850SJ, Genie S-40–S-125, Skyjack SJ45T, Haulotte H18SX36–60 mo
Scissor Lifts$15K–$80KJLG 2030ES–6RS, Genie GS-1930–GS-5390, Skyjack SJ3219–SJ925336–60 mo
Asphalt Pavers$100K–$600KCat AP300–AP600, Volvo P4370–P8720, BOMAG BF 300C–BF 800C, Dynapac F series48–72 mo
Soil/Asphalt Compactors$20K–$250KBomag BW 120–BW 213, Cat CB2.7–CB7, Hamm H 11i–H 25i, Dynapac CA 150036–72 mo
Trenchers$20K–$350KDitch Witch RT30–RT130, Vermeer RTX750–RTX1250, Toro TRX-20–TRX-30036–60 mo
Backhoe Loaders$50K–$120KJohn Deere 310L–710L, Cat 415F2–430F2, Case 580SN–695ST, Komatsu WB97S36–60 mo

Brand Comparison

American vs. Asian Construction Equipment: Financing Differences

One of the most significant financing decisions for construction contractors is choosing between American/European brands (Caterpillar, John Deere, Komatsu, Volvo, Liebherr) and Chinese manufacturers (XCMG, SANY, LiuGong, Shantui, SDLG). The price difference can be substantial — a new Cat 320 excavator costs $280,000–$310,000 while a comparable XCMG XE215DA costs $150,000–$180,000. But financing terms, resale values, and lender availability differ significantly.

FactorCaterpillar / Komatsu / DeereXCMG / SANY / LiuGong
Purchase Price (20-ton excavator)$270K–$330K$150K–$190K
OEM Financing AvailableYes (equipment lenders, equipment lenders)Limited (brand-specific programs)
3rd Party Lender AcceptanceAll major lendersSpecialty lenders required
Interest Rate5–8% APR7–12% APR
Down Payment Required10–15%15–25%
5-Year Resale Value50–65% of purchase price30–45% of purchase price
Dealer Network (US)Extensive nationwideGrowing, but thinner
Parts AvailabilityExcellent, same-day localImproving, may require longer lead time

For a complete analysis, see our American vs. Asian Equipment Financing guide and the XCMG Equipment Financing page.

Manufacturer Overview

Construction Equipment Manufacturers by Country of Origin

Caterpillar🇺🇸 Irving, TX — USA

World's largest construction equipment manufacturer. equipment lenders offers industry-leading financing programs. Cat equipment has the strongest resale values in North America.

Komatsu🇯🇵 Tokyo, Japan

World's second-largest construction equipment maker. equipment lenders offers competitive dealer programs. Known for Intelligent Machine Control technology.

John Deere Construction🇺🇸 Moline, IL — USA

equipment lenders offers some of the most competitive construction equipment financing in the market. Strong dealer network throughout North America and globally.

Volvo CE🇸🇪 Gothenburg, Sweden

Swedish manufacturer of excavators, wheel loaders, and articulated haulers. Volvo Financial Services provides dealer financing. Strong in Europe and North America.

Liebherr🇩🇪 Bulle, Switzerland / Germany

German-Swiss family-owned company. World leader in crawler cranes and premium excavators. Liebherr machines command top resale values among European brands.

Hitachi Construction🇯🇵 Tokyo, Japan

Japanese manufacturer specializing in excavators. Now partnered with John Deere for distribution in some markets. Hitachi ZX series are well-regarded for reliability.

Doosan Bobcat🇰🇷🇺🇸 Korea / USA (West Fargo, ND)

Bobcat is the world's most recognized compact equipment brand. Manufactured in West Fargo, ND and Gwinner, ND. equipment lenders offers dealer programs.

Case Construction🇺🇸 Racine, WI — USA (CNH Industrial)

Case backhoes, skid steers, and excavators. equipment lenders provides financing. Case equipment widely used in residential and light commercial construction.

Manitowoc / Grove🇺🇸 Manitowoc, WI — USA

American crane manufacturer. Grove rough terrain and all-terrain cranes are among the most popular in North America. Manitowoc crawler cranes handle heavy lifts.

JLG Industries🇺🇸 McConnellsburg, PA — USA (Oshkosh Corp)

World's leading aerial work platform manufacturer. JLG boom lifts and scissor lifts are industry standard. Oshkosh Financial provides competitive leasing.

SANY Group🇨🇳 Changsha, China

China's largest construction equipment manufacturer and world's second-largest crane maker. SANY America operates US distribution. Growing resale market in North America.

XCMG🇨🇳 Xuzhou, China

China's largest crane manufacturer and second-largest construction equipment company. XCMG North America is expanding dealer network. Price advantage over Western brands is significant.

Ditch Witch🇺🇸 Perry, OK — USA (Charles Machine Works)

American manufacturer of trenchers, vacuum excavators, and directional drills. Employee-owned. Ditch Witch Financial provides dealer programs for utility contractors.

Vermeer🇺🇸 Pella, IA — USA

Iowa-based manufacturer of horizontal directional drills, trenchers, and surface mining equipment. Family-owned. Widely used in underground utility installation.

Gradall Industries🇺🇸 New Philadelphia, OH — USA

American manufacturer of telescoping boom hydraulic excavators. Gradall XL series are widely used in highway maintenance. See our Gradall financing guide.

Bomag🇩🇪 Boppard, Germany (Fayat Group)

German manufacturer of soil and asphalt compaction equipment. BOMAG single-drum rollers and compaction equipment are widely used in road construction.

Licensing & Compliance

Construction Contractor Licensing Requirements

Construction contractor licensing varies significantly by state. Some states (like California and Florida) require specific contractor licenses for nearly all construction work. Others (like Texas) have minimal state licensing but extensive local requirements. Understanding your licensing requirements is essential — many commercial customers and general contractors require proof of current licensing before awarding subcontracts.

General Contractor License

Required in most states for commercial construction work. License requirements vary by state — typically include exam, experience verification, insurance proof, and bond. See full state-by-state guide at construction-contractor-licensing.html.

OSHA 10-Hour Construction

Required on most commercial job sites and many federal projects. The 10-hour OSHA construction card is the minimum. 30-hour OSHA required for supervisors on many projects. $250-$450 for online courses.

NCCCO Crane Operator Certification

Required federally under OSHA 29 CFR 1926.1427 for all operators of equipment with a manufacturer-rated capacity exceeding 2,000 lbs and a boom length exceeding 10 feet. Written and practical exam required.

CDL (Commercial Driver's License)

Class A CDL required to haul equipment on trailers over 26,001 lbs GVWR. Excavator and dozer transport typically requires CDL-A. CDL testing done at state DMV locations. Critical for any contractor moving their own equipment.

EPA Stormwater Permits

Construction sites disturbing 1+ acres require NPDES stormwater permits in all states. A Stormwater Pollution Prevention Plan (SWPPP) must be prepared and implemented. Required before ground disturbing activities begin.

Aerial Lift Certification

ANSI A92.22 requires operator training for all boom lifts and scissor lifts. Employer must train operators before use. Third-party certification available through IPAF, JLG, and other providers. Required on virtually all commercial job sites.

For state-by-state contractor licensing requirements, see our Construction Contractor Licensing Requirements guide.

Income Potential

Construction Contractor Revenue & Income

Owner-Operator

1–2 Machines

$300K–$700K Revenue

$80K–$200K Owner Income

Typically 1 excavator or dozer, owner-operated. May subcontract dump truck hauling. Strong demand for solo excavating contractors in residential site work.

Small Contractor

3–8 Machines

$1M–$4M Revenue

$200K–$600K Owner Income

Multiple excavators, dozers, and support equipment. Employees. Pursuing commercial site work, utility work, and subdivision grading contracts.

Established Contractor

10+ Machines

$5M–$20M+ Revenue

$500K–$2M+ Owner Income

Full-service earthmoving and site development contractor. Multiple crews, project managers, dedicated estimators. Pursuing public infrastructure and large commercial projects.

For detailed income estimates by specialty, see our Excavating Business Income guide.

Equipment Financing

0% Down Available on All Brands

Axiant Partners finances all major equipment brands — Caterpillar, Komatsu, John Deere, XCMG, SANY, and 200+ more. 0% down available for qualified borrowers regardless of brand. Terms 36–84 months.

  • ✓ 0% down for qualified borrowers
  • ✓ All brands including XCMG and SANY
  • ✓ New and used equipment
  • ✓ Startups and established businesses
  • ✓ Decision in 24–48 hours

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Common Questions

Construction Equipment Financing — Frequently Asked Questions

What is the monthly payment for excavator financing?
Monthly payments for excavator financing scale with machine size and cost. A used $90,000 Cat 308 mini-excavator financed over 60 months at 7% APR runs approximately $1,782/month. A new $280,000 Cat 320 medium excavator financed over 72 months at 6.5% APR runs approximately $4,694/month. A large $600,000 Cat 352 excavator financed over 84 months at 7% APR runs approximately $9,020/month. OEM programs (equipment lenders, equipment lenders) often offer promotional rates that reduce these payments further for qualified buyers.
How do I finance a used excavator or dozer?
Used construction equipment financing follows the same basic process as new: credit application, equipment identification (VIN/serial number, hours, condition), and financial documentation. The key differences are shorter available terms (36–60 months vs. 84 for new), slightly higher rates (1–3% premium), and more scrutiny on age and condition. Equipment under 3,000 hours and under 5 years old qualifies most easily. Equipment over 10 years old or 10,000+ hours may require specialty lenders. Independent appraisals are sometimes required for machines over $200,000 at auction or private sale.
Can I finance XCMG or SANY equipment?
Yes, XCMG and SANY construction equipment can be financed in the United States. XCMG North America and SANY America have both developed US dealer networks with financing programs. Third-party specialty lenders also finance Chinese construction equipment, though rates are typically 1–2% higher than for Caterpillar or Komatsu (reflecting lower resale value certainty). Down payments of 15–25% are more common for Chinese equipment vs. 10–15% for established brands. The price advantage is typically large enough — often $100,000–$150,000 less than a comparable Cat — to make the financing premium worthwhile.
What credit score is needed for construction equipment financing?
Most construction equipment lenders prefer 620–650+ personal credit scores. Caterpillar Financial, equipment lenders, and equipment lenders offer their most competitive rates at 680+. Alternative and specialty lenders work with scores as low as 550–580 for established contractors with strong bank statements and revenue history. For startup contractors (under 2 years in business), 680+ personal credit and 20–30% down is typically required. The strength and recency of your construction business history matters as much as your score — a contractor with $500,000 in recent jobs and a 620 score may get better terms than a startup with a 680 score and no track record.
What is the difference between a TRAC lease and a finance lease for construction equipment?
A Terminal Rental Adjustment Clause (TRAC) lease sets a residual value at the end of the term. If the equipment sells for more than the residual, you receive the surplus. If less, you owe the deficiency. TRAC leases work well for construction equipment that holds value (Cat, Komatsu) because the residual risk is manageable and the lower monthly payments improve cash flow. A finance lease (capital lease) is functionally a loan — you own the equipment at end of term for a nominal $1 purchase. Operating leases (with fair market value purchase option) let you walk away at end of term, making sense for equipment you expect to upgrade regularly such as aerial lifts and compact equipment.
Can a startup construction company get equipment financing?
Startup construction companies can get equipment financing, but expectations must be realistic. Day-one startups typically need: 680+ personal credit score, 20–30% down payment, personal guarantee, and often additional collateral. The strongest startup applications include the owner's prior construction experience (even as an employee), a signed contract or LOI from a first customer, and a clear business plan with revenue projections. Many successful construction companies start with one used mini-excavator or skid steer at $30,000–$60,000 — much easier to finance — then build a track record before upgrading to larger equipment. See our How to Start an Excavating Business guide.
How does crane financing work differently from excavator financing?
Crane financing involves higher amounts ($200K–$10M+), longer terms (up to 120 months for large crawlers), and more specialized underwriting. Lenders verify NCCCO operator certification — required by federal OSHA since November 2018 — and may require proof of operator certifications before funding. Insurance requirements are significantly higher: crane operators typically need $5M–$25M in liability coverage depending on crane size and job sites. Large all-terrain and crawler cranes often require certified appraisals before loan approval. The OEM crane finance arms (Manitowoc Finance, Tadano Financial) offer competitive programs for their specific brands, while third-party lenders fill in for used equipment and non-OEM brands.
What is the best construction equipment for collateral value?
Caterpillar equipment consistently commands the highest collateral values in construction — Cat 320-class excavators, D6 dozers, and 950-class wheel loaders retain 50–65% of new value after 5 years in normal working condition. Komatsu and John Deere machines also hold value extremely well. Equipment with broad utility (standard excavators, skid steers) holds value better than specialty machines (asphalt pavers, slip form pavers). Mini-excavators have become excellent collateral due to enormous secondary market demand from landscapers, utility contractors, and homeowners. Aerial lifts (JLG, Genie) have very active rental markets that support strong collateral values. XCMG and SANY machines are improving in resale value as their US market share grows, but still trade at a 20–30% discount to equivalent Cat/Komatsu equipment at major auction houses.

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Whether it's a $35,000 mini-excavator or a $3,000,000 crane, explore financing options for your specific equipment and situation.

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Informational resource only. Not an offer of credit or guarantee of approval. Terms vary by lender and equipment type.