8 min read
Excavator Financing: How to Finance a Mini or Full-Size Excavator
By Christopher Chavez, Founder — Northwood Capital Group
Excavator financing spreads the cost of a mini, midi or full-size excavator over monthly payments, so a contractor can take on more digging, grading and utility work without draining cash. Northwood Capital Group LLC finances new and used excavators from any brand nationwide, including dealer and private-party purchases.
The short answer: established businesses commonly finance new excavators over 36–60 months (some up to 72) and used machines over 24–60 months. Down payment ranges from none to 20%+ depending on credit, time in business and the machine.
Mini vs. full-size excavator financing
| Size class | Typical use | Common term | Notes |
|---|---|---|---|
| Mini (under 6 tons) | Utilities, landscaping, pools, tight lots | 36–60 months | Easiest first excavator; tows on a trailer |
| Midi (6–10 tons) | Residential site work, septic, trenching | 36–60 months | Bridge between mini and full-size |
| Full-size (10+ tons) | Commercial site work, demolition, mass excavation | 36–72 months | Larger amounts may need financial statements |
| Used, high hours | Any | 24–48 months | Inspection or service records help |
Rent vs. finance: a quick check
Illustration only: if you rent a mini excavator for $2,800 a month most months of the year, a finance payment under that amount means you are building equity instead of paying rent. If you need the machine only a few weeks a year, renting may cost less. Use your actual rental invoices for this comparison.
What lenders look at
- Bank deposits: four months of business bank statements show the cash flow that will make the payment.
- Credit and history: 680+ with two or more years in business gets the best terms; lower scores are reviewed with more weight on deposits and down payment.
- The machine: brand, year, hours and resale value. Popular brands hold value and finance more easily.
- Work lined up: signed contracts or bids help, especially for a first excavator. They do not guarantee approval.
For current rate ranges by credit tier, see heavy equipment financing rates.
Dealer promo or independent lender?
Manufacturer promos can be excellent for top-tier credit on new machines. An independent lender covers what promos usually don't: used machines, private sales, mixed brands, attachments from another vendor and lower credit. Ask the dealer for the cash price, then compare total cost both ways. Planning a fleet? Read used equipment financing and pair it with a skid steer or dump truck.
Who we finance excavators for
- Excavation, grading and site-prep contractors (construction equipment financing)
- Landscapers and hardscapers adding a mini (landscaping equipment financing)
- Plumbing, septic, pool and utility contractors
- Farms and ranches (agricultural equipment financing)
We fund businesses in all 50 states, with active markets in Texas, Florida and California. Need cash for payroll and fuel while the machine ramps up? See working capital for construction companies.
How to apply
Send the excavator quote (a photo from your phone works) and the last four months of business bank statements downloaded as PDFs. Credit decisions typically come within 24–72 hours after a complete application. Apply online or call (714) 679-8886.