How AL Elite works for construction equipment financing
- Tell us about it. Your trade, where you operate, roughly how many jobs a month you quote, and whether you need capital, a customer-financing program or both. No credit pull.
- We match you. Your request goes to lenders in our network who work with contractors in your trade and state. For customer financing, we set up a program; for capital, we match you with business lenders.
- You choose and apply with the lender. Rates, terms and the decision come from the lender. For customer-financing programs, there's no cost to join and no obligation to use it on every job.
Loan or lease?
Equipment loan
You own the machine at the end. Payments build equity.
Equipment you'll run for years.
Higher payment than a lease; you carry resale risk.
Fair-market-value lease
Lower payments; return, renew or buy at market value at the end.
Equipment that goes obsolete or that you need only for a contract.
You don't own it; total cost can be higher if you keep it.
$1 buyout lease
Lease structure, but you own it for a dollar at the end.
Ownership with lease-style paperwork.
Economically a loan; compare the rate as one.
Equipment purchases can have tax consequences (depreciation, expensing elections). That's a conversation for your accountant before you choose a structure.
New vs used
Used equipment is financeable, usually at shorter terms and sometimes higher rates, with lenders capping age and hours. Have the serial number, hours and an inspection or auction report ready. Dealer financing on new machines can carry promotional rates; compare against an independent lender's offer, as with any dealer program.
Try the numbers
The equipment loan calculator shows the payment at different terms and rates, plus total interest, so you can compare a 36-month loan against a 60-month one before talking to a lender.
Example payments on construction equipment financing
Illustrative arithmetic only. Business lenders quote their own rates, fees and structures (some use factor rates rather than APR; ask for the APR equivalent).
| Amount | Example APR | 36 mo | 48 mo | 60 mo | 84 mo |
|---|---|---|---|---|---|
| $40,000 | 7.50% | $1,244.25 | $967.16 | $801.52 | $613.53 |
| 10.50% | $1,300.10 | $1,024.14 | $859.76 | $674.43 | |
| 14.50% | $1,376.84 | $1,103.12 | $941.13 | $760.69 | |
| $90,000 | 7.50% | $2,799.56 | $2,176.10 | $1,803.42 | $1,380.44 |
| 10.50% | $2,925.22 | $2,304.30 | $1,934.45 | $1,517.46 | |
| 14.50% | $3,097.89 | $2,482.02 | $2,117.55 | $1,711.56 | |
| $180,000 | 7.50% | $5,599.12 | $4,352.20 | $3,606.83 | $2,760.89 |
| 10.50% | $5,850.44 | $4,608.61 | $3,868.90 | $3,034.92 | |
| 14.50% | $6,195.78 | $4,964.03 | $4,235.09 | $3,423.11 |
Example monthly payments using standard amortization with no fees. The APRs shown are illustrative tiers, not offers. Your rate, fees and term are set by the lender and depend on your credit profile, income and state.
What lenders look for
Every lender sets its own criteria. The things that come up most often:
- Time in business. Many business lenders want at least one to two years of operating history; some products accept less.
- Revenue. Annual revenue thresholds vary by lender and product. Bank statements are the usual proof.
- Business and personal credit. Smaller contractors are often underwritten partly on the owner's personal credit.
- Licensing and insurance. A current contractor's license (where required) and general liability insurance.
- State. Lender availability and product rules vary by state. We match you with lenders who serve your location.
Frequently asked questions
Can I finance used construction equipment?
Yes. Most equipment lenders finance used machines within age and hours limits, often at shorter terms. Bring the serial number, hours and condition report.
Is it better to lease or buy construction equipment?
Buy (loan) what you'll run for years; lease what goes obsolete or is contract-specific. Compare total cost over the period you'll keep it, and ask your accountant about tax treatment.
What credit do I need for equipment financing?
Because the equipment is collateral, requirements are often more forgiving than for unsecured loans. Lenders still look at business history and the owner's credit; newer businesses may need a larger down payment.
Is AL Elite a lender for construction equipment financing?
No. AL Elite is a matching service. We route your request to business lenders in our network who fund construction equipment financing, and they set the terms and make the decision. Lenders pay us for introductions; you don't.
Does requesting options affect my business or personal credit?
Submitting a request to AL Elite does not pull credit. Business lenders typically run a soft inquiry to pre-qualify and a hard inquiry at formal application. We tell you each lender's approach before you proceed.