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First Capital Business Finance
First Capital
Backhoes play a crucial role across various industries, particularly in construction and mining. These versatile machines are indispensable on job sites, where they excel in both digging and material movement tasks. However, investing in a backhoe outright with cash may not be feasible or preferable for many businesses. That’s where new and used backhoe financing comes in handy, offering a solution to meet diverse needs.
Whether you’re in construction, mining, or another industry that relies on backhoes, securing financing is essential. Finding a lender with expertise in backhoe loans can make all the difference in streamlining the process and accessing the right financing options for your business.
Contractors and construction companies all across the country trust First Capital as their go-to heavy equipment financing company for over a decade. We have specialized expertise in the heavy equipment financing industry.
We understand the essentials for securing approval with the optimal equipment finance program tailored to fuel your business growth and boost your revenue.
The ability to access backhoe financing for new or used equipment can make or break a small business. You’re likely to find plenty of equipment finance companies out there to choose from, but how do you pick the right one?
Well, we asked our clients to shop around and find out what type of programs are being offered by these other equipment finance companies. Do some research on the company. A simple Google search will tell you many of the things you need to know about the company. How easy are they to find? What kind of reviews do their own clients give them? We believe that our service and our reviews from past clients speak louder than words!
From our past experience, we’ve heard clients tell stories about how they were ripped off by other companies. When we dug a little deeper we found out that these equipment finance companies even charged an up front processing fee or commitment fee. Now, this isn’t completely unheard of. There are reports of companies informing the client that this is their down payment, or their first two months’ payments and processing fee.
What these customers failed to ask is whether those funds are refundable if they decide to cancel the transaction, or if the finance company can’t obtain the financing. Some of these equipment financing companies will have fine print that allows them to keep some or all of those funds. So if you are ever asked to pay anything upfront, be sure you read the fine print. Better yet, look up these equipment finance companies and read their reviews. As we said, actions speak louder than words.
Of course, there are some exceptions to the rule. For example, larger transactions do have more underwriting costs, such as pulling UCC records. Plus, when you’re speaking about transactions greater than $250,000 the financial institution wants to allot the capital in advance. And when doing so, they certainly want to make sure the client is serious about the relationship and will, therefore, at times request a commitment fee.
Let us help you determine whether new or used backhoe financing is right for you and your business. The easiest way to accomplish this is by either calling our office at 888-565-6692 and speaking with one of our advisors, or you can chat with our help desk. Our help desk is typically open from 5 am PST to 11 pm PST, 7 days a week. Once you’ve found out what you are eligible for, now comes the fun part…shopping around! Plus, don’t forget, we have a wide variety of programs for all credit grades, including start-up businesses.
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Getting the loan you need is simple. Contact us & you can get prequalified for your loan on the same day!
Step 1
Reach out to us via phone or the contact form on this website.
Step 2
We'll contact you to get the information we need to process your loan.
Step 3
You'll receive a decision on your loan shortly (typically the same day).
Depending on your scenario, you will see that there are programs that will require anywhere from a zero down payment to some that may require as high as a 50% down payment. So we’ll list a few examples to give you an idea of what you can expect. As you might already know, there’s a lot that goes into pricing and qualifying a transaction:
Example A: Used Backhoe Loader $35,000
Example C: Used Backhoe Loader $35,000
Example E: Used Backhoe Loader $35,000
Example B: Used Backhoe Loader $35,000
Example D: Used Backhoe Loader $35,000
Example F: Used Backhoe Loader $35,000
Simple Application Process – Applying for backhoe loans under $250k is hassle-free with our easy online form. Say goodbye to paperwork and the need for extensive financial statements. It’s straightforward and convenient.
Competitive Fixed Rates – Enjoy the advantage of fixed rates with our financing options, ensuring that your monthly payments remain low and predictable throughout the term.
Rapid Approvals – When you need your equipment quickly, First Capital has you covered. Our Quick Turnaround approval process means most lease or loan deals can be approved within a few hours sometimes, with rare instances taking longer than a business day. We pride ourselves on being the fastest in the industry!
Exceptional Customer Service: Our team of financing experts is dedicated to providing top-notch customer service. We’re here to answer your questions, address your concerns, and guide you through every step of the financing process.
Industry Experience: With years of experience in the industry, we have the knowledge and expertise to understand your business needs and deliver the right financing solution for you.
Tailored Solutions: We understand that every business is unique. That’s why we offer personalized financing solutions that fit your specific needs and budget.
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Now that you have an idea of where your down and monthly payments might fall, which backhoe financing example do you fall in?
Please keep in mind, these payments and terms are not set in stone. There are so many variables that can improve your pricing, but this will give you a basic idea of where you might be. There are more details that go into qualifying, so it’s always best to either call our office and speak to one of our advisors, or you can use our chat help desk. If you look at the lower right of your computer screen, you’ll see a purple box that will allow you to chat with one of our professionals.
What types of heavy equipment can I finance?
Do I need a down payment for equipment financing?
What are the typical terms for equipment financing?
What credit score do I need to qualify for equipment financing?
Can I finance both new and used equipment?
What documents do I need to apply for equipment financing?
Can I finance equipment if I have a new business or limited credit history?
What happens if the equipment breaks down or becomes obsolete during the financing term?
Are there any tax benefits to financing equipment?
First Capital Business Finance is committed to helping you meet your cash flow needs to grow your business. We serve small and middle market businesses and large corporations with range of loan and financing options for bad credit
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