Compact track loader financing

A compact track loader is a skid steer on rubber tracks, which is why it has taken over the market: it works on mud, slopes and soft ground where a wheeled machine stops. It also costs more, and the undercarriage is the number to watch on a used one. iFinancial Group finances them new or used, with the attachments on the same approval, on a one-page application. No tax returns and no audited financial statements to apply, no minimum and up to $1,000,000.

Who you're dealing with

iFinancial Group has funded equipment since 1997, roughly $600 million of it, in all 50 states. We're a direct lender, not a broker, so the file is underwritten in house and not shopped around. Our customers have ranged from independent manufacturers to global technology companies. We've barely advertised in almost three decades. The business came from repeat customers, referrals, and vendors sending us their customers.

What you're financing

A small frame track loader typically lists new from about $55,000 to $70,000. A mid frame machine, the most common, runs roughly $70,000 to $95,000. Large frame, high flow machines with a cab run $95,000 to $130,000. A vertical lift path, two-speed and high flow hydraulics each add to the number.

Those are market ranges. The maker, the hours and the hydraulic package move them.

What goes on the same approval

The attachments go on one approval with the machine: buckets, forks, a grapple, a mulching head on a high flow machine, a trencher, a soil conditioner, a snow blower. A forestry mulcher alone can run $25,000 to $45,000 and is financed with the loader that runs it.

Freight, an extended warranty and operator training are soft costs and can ride on the same deal, on many deals up to 30% of the total. The trailer can go on the approval too.

Who buys them and how the payment gets covered

Landscapers and hardscape installers, site work contractors, land clearing and forestry mulching operators, concrete crews and snow contractors. Land clearing in particular is built on a high flow track loader with a mulching head, billed by the acre or the day.

Where the work is seasonal, seasonal payments follow it.

New or used

A mid frame track loader three to six years old typically trades from about $30,000 to $65,000. Rental fleets cycle them on a schedule, so used supply is deep through dealers and auctions, and all three channels are financeable here.

On a used track loader, the undercarriage is the inspection: tracks, rollers, idlers and sprockets can cost $8,000 to $15,000 to replace, and a machine with a worn undercarriage is priced accordingly. On the financing side it's the invoice or bill of sale, the serial number, and proof of what was paid. There's no title; the lender's claim is a UCC filing against the serial number.

What slows a track loader deal down

Mostly nothing. Dealers stock them in volume, used ones are everywhere, and a deal can fund inside a week once the terms are signed.

The first machine is the one that takes a little more. It starts with the one-page application, and a newer business will typically need a little more up front, usually the owner's background in the trade and the work the machine is bought to do.

How it works with iFinancial Group

It's the same one-page application whether the equipment is small or the deal runs to $1,000,000: no tax returns and no audited financial statements to apply, no minimum and up to $1,000,000. Decisions typically come back within 24 hours, and an approval holds up to 60 days. New and used equipment, terms up to 84 months, and soft costs up to 30% so freight, setup and training can go in the same deal. Payment structures beyond level payments are there when the equipment earns unevenly. We've been doing this since 1997, in all 50 states.

Other construction equipment: excavator, mini excavator, skid steer, wheel loader, dozer, backhoe loader, motor grader, telehandler, compactor, asphalt paver, aerial lift. Or start with construction equipment financing.