Wheel loader financing

A wheel loader is the machine that loads trucks, feeds a crusher, moves material around a yard and pushes snow in the winter, and for an aggregate producer or a landscape supply yard it runs every day the gate is open. iFinancial Group finances wheel loaders new or used, with the buckets and forks 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

Compact wheel loaders, the 1 to 1.5 yard machines a landscape yard or a farm runs, typically list new from about $100,000 to $180,000. Mid-size loaders with a 2.5 to 4 yard bucket, the standard site work and aggregate yard machine, run roughly $200,000 to $400,000. Production class loaders with 5 yard and larger buckets run $400,000 and up.

Those are market ranges. The maker, the hours, the tire size and the bucket configuration move them.

What goes on the same approval

The loader, the general purpose bucket, a light material bucket for mulch or snow, pallet forks, a quick coupler and a scale system for loading trucks to weight all go on one approval. A payload scale on a loader is a $10,000 to $20,000 item that pays for itself in overloaded trucks it prevents.

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

Aggregate and sand and gravel producers, landscape and mulch supply yards, recycling and scrap operations, site work contractors, farms and snow removal contractors on large lots. Yard work is steady and year round, and a loader on a supply yard is close to a fixed piece of the operation.

For a contractor whose loader works a seasonal job, seasonal payments follow the working months.

New or used

A mid-size wheel loader six to ten years old typically trades from about $60,000 to $200,000 depending on hours and size. Compact loaders run $40,000 to $90,000 used. Dealers, auctions and private sales between operators all move loaders, and all three are financeable here.

On a used loader, the tires (a set can run $10,000 to $30,000 on a large machine), the articulation joint, the transmission and the bucket edge 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 wheel loader deal down

Production class machines above $1,000,000 are written under a master lease rather than a single financing, usually when a producer is adding several machines at once. Below that line it's the same one page.

A used loader from a private seller needs a lien search showing the seller owns it free and clear. That's a day, not a week, and it protects the buyer as much as the lender.

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