8 min read
Skid Steer Financing: How Long You Can Finance, Credit Needed & How to Apply
By Christopher Chavez, Founder — Northwood Capital Group
Skid steer financing lets a landscaping, construction, farm or snow-removal business put a machine to work now and pay for it monthly out of the jobs it helps finish. Northwood Capital Group LLC finances new and used skid steers and compact track loaders nationwide, from any brand and from dealers or private sellers.
The short answer: most operating businesses can finance a new skid steer over 36–60 months (sometimes 72), and a used one over 24–60 months. Credit, time in business, down payment and the machine's age and hours decide the final terms.
How long can you finance a skid steer?
| Machine | Common term | What shortens it | What helps |
|---|---|---|---|
| New skid steer / CTL | 36–60 months, some up to 72 | Startup business, low credit | Down payment, 2+ years in business |
| Used, under 3,000 hours | 36–60 months | Older model year | Dealer inspection, service records |
| Used, high hours or older | 24–48 months | Hours, condition, private sale | Larger down payment, strong bank deposits |
Longer terms lower the monthly payment but raise the total you pay. Ask for the total repayment amount, not just the monthly number.
What credit do you need to finance a skid steer?
- Strong credit (680+) and 2+ years in business: best rates, little or no money down on many programs.
- Fair credit (600–679): often approved with a modest down payment.
- Challenged credit (500–599): possible with a larger down payment, steady bank deposits and a newer machine. See our low-FICO equipment financing guide.
- Startups: reviewed differently. Read equipment financing for startups.
Dealer financing vs. independent financing
| Dealer / manufacturer | Independent lender (Northwood) | |
|---|---|---|
| Promo rates | Sometimes 0%–low rate on new units for top credit | Market rates; no brand promos |
| Used and private sales | Limited | Yes, any brand and seller |
| Credit flexibility | Often strict prime cutoffs | Programs from 500 FICO |
| Attachments & trailer | Usually dealer-sold only | Any vendor |
| Watch for | Cash-rebate given up for the promo rate | Total cost on lower-credit programs |
If a dealer offers 0% financing, ask what the cash price would be without it. A rebate you give up can cost more than the interest you save. Compare both on total cost.
Lease or loan?
A loan or a $1 buyout lease means you own the skid steer at the end. A fair-market-value lease has lower payments but you return or buy it at the end. Seasonal businesses can ask about payment schedules that match their busy months. Compare structures in our $1 buyout lease vs. loan guide. Financed equipment may also qualify for a Section 179 deduction; see the Section 179 guide and confirm with your tax advisor.
Who finances skid steers with Northwood?
Landscaping and hardscaping
Grading, sod prep, retaining walls and debris removal. See landscaping equipment financing.
Construction and site work
Demolition, trenching, material handling. See construction equipment financing and our excavator financing guide.
Farms, ranches and snow removal
Feeding, barn cleanout and winter plowing contracts. See agricultural equipment financing.
We serve businesses in all 50 states, including Texas, Florida and California.
What you need to apply
- A quote or invoice for the skid steer and attachments (a phone photo of the quote is fine)
- The last four months of business bank statements, downloaded from your bank as PDFs
- Driver's license and basic business information
Credit decisions typically come within 24–72 hours after a complete application. Start your application or call (714) 679-8886.