Construction equipment financing: 3 options in 2023
When you’re thinking of starting a construction business, financing the equipment you need to complete your projects is often a major hurdle.
The great revenue potential in this business sector creates a certain buzz around everything to do with renovation, construction and real estate. Whether you’re starting a business in this sector or updating your construction equipment, construction equipment leasing or refinancing can help you acquire heavy machinery for your business without the financial stress of having to pay for it all at once.
The need for quality equipment is paramount in this field of activity, and with technologies constantly evolving, equipment is often in need of renewal. As all this can quickly become very expensive, it’s important to be well informed about the different possibilities for purchasing and financing construction equipment.
Whether you’re looking for tractors, forklifts, excavators, technical equipment or bulldozers, using a construction equipment financing service can be an interesting option, even if you have the funds to buy your own construction equipment. In fact, by using construction equipment financing to purchase your equipment, you can conserve your capital and use it in other ways to grow your business. Because Affiliated Financial Services is the reference in construction equipment financing, we make it our duty to find and negotiate for you the best financing terms available on the market. You can quickly apply for financing with one of our brokers.
To learn more about construction equipment financing and how to apply for financing, discover the 3 options for 2023 and how the Affiliated Financial Services team can help you find the financing you need.
1. Construction equipment financing for business start-ups
Starting a business in the construction sector is a thrilling adventure in which you’ll need to persevere to ensure profitability, and above all, keep persevering even if your road is strewn with challenges. There are ways to improve the odds of success for your construction business, such as obtaining financing for construction equipment.
At Affiliated Financial Services, we’re committed to supporting the growth and success of Canadian construction companies, making us “The gold standard in equipment financing across Canada”
Our brokers will help you prepare a financing application that presents you and your company in the best possible light to help you obtain construction equipment lease financing, regardless of your credit history or current credit rating.
2. Construction equipment refinancing, for cash or projects
Construction equipment refinancing isn’t just a solution for companies facing financial difficulties. We can also use it to raise cash for new projects.
You can refinance your construction equipment to raise cash for fluctuating sales, to market a new product or invest in a new project, or for a down payment on new equipment.
You can also refinance your debt to obtain more advantageous amortization periods that will enable you to invest more in your business.
The advantages of refinancing your assets are:
- Refinancing construction equipment can help you build working capital or pay off debts. Some seasonal businesses may refinance their assets to strengthen their working capital;
- A fast-growing company may need liquidity to purchase inventory;
- Buyouts: shareholders can refinance equipment to buy out the other shareholder.
Be well prepared
When you’re looking for refinancing, you need to be sure that your business is risk-free and that your business plan is well detailed.
If your business is in temporary difficulty, we can help you get back on your feet.
Bring us your clear, complete, well-presented documents and, of course, your up-to-date balance sheets! In this way, you’ll demonstrate the seriousness of your approach and speed up the processing of your leasing application. If necessary, call in an accountant!
3. Financing non-standard construction equipment is possible!
At Affiliated Financial Services, we understand that it can be difficult to obtain cash when starting up a business, following an equipment breakdown, conquering new markets or financing non-standard equipment.
Our specialized team can help you acquire financing for non-standard construction equipment anywhere in Canada. Contact us for more information.
Construction equipment financing, a matter for specialists!
Our team has over 45 years’ experience in the financing field, and our mission is to find the best possible financing for our customers in the shortest possible time.
Get your construction equipment financing in 3 easy steps!
- Apply for credit
- Sign your financing contract
- Work with your construction equipment
Apply for financing and receive approval within 24-48 hours
Our expertise will guide you in the best choice of equipment to meet your company’s needs and ensure the satisfaction of your employees and customers.
Let us put your business on the road to success!