Telehandler financing

A telehandler is a forklift with a telescoping boom, the machine that puts a pallet of shingles on a roof or a bundle of trusses on a second floor, and the one every framing and masonry crew ends up owning after renting it for a year. iFinancial Group finances telehandlers 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 compact telehandler with a 5,500 pound capacity and 19 foot lift, the size a residential crew runs, typically lists new from about $90,000 to $120,000. The standard 6,000 to 8,000 pound, 40 to 45 foot machine runs roughly $130,000 to $190,000. High capacity 10,000 to 12,000 pound machines with 55 foot reach run $200,000 and up.

Those are market ranges. The maker, the hours, the capacity and the reach move them.

What goes on the same approval

The telehandler, the fork carriage, a bucket, a truss boom, a work platform and a quick coupler go on one approval. A truss boom and a platform are the two attachments that let one machine serve a framing crew and a finish crew.

Freight and an extended warranty are soft costs and can ride on the same deal, on many deals up to 30% of the total.

Who buys them and how the payment gets covered

Framing contractors, masonry contractors, roofers, drywall and glazing contractors, steel erectors, and farms that use one for hay and feed. Framing and masonry crews that rent a telehandler on every job typically spend more in a year of rent than a payment would cost.

Where the work is seasonal, seasonal payments follow it.

New or used

A standard telehandler four to eight years old typically trades from about $40,000 to $100,000. Rental fleets own most of the telehandlers in the country and cycle them on a schedule, so the used supply through dealers and auctions is deep and the machines are well documented. All channels are financeable here.

On a used telehandler, the boom wear pads, the tires, the hours and the annual inspection record get the inspection. 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 telehandler deal down

Mostly nothing. Rental fleet sales and dealer stock keep used machines available, and a deal can fund inside a week once the terms are signed.

The one thing: a framing or masonry crew buying its first machine is often a business a year or two old. It starts with the one-page application, and a newer business will typically need a little more up front.

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, compact track loader, wheel loader, dozer, backhoe loader, motor grader, compactor, asphalt paver, aerial lift. Or start with construction equipment financing.