Equipment financing for Florida contractors
Excavators, skid steers, dump trucks, lifts, trailers, specialty tools. Construction runs on equipment that costs more than most crews keep in the bank. Equipment financing lets you put the machine to work now and pay for it over time, usually with the equipment itself serving as the collateral.
How equipment financing works
With equipment financing, a funding provider pays for the machine and you repay over a set term. Because the equipment secures the deal, providers can often say yes to businesses that a traditional bank would send away. The basic structures look like this:
- Equipment loan. You own the equipment from day one and the lender holds a lien until the balance is paid.
- Equipment lease. You make payments to use the equipment, and at the end of the term you may be able to buy it, return it, or renew. Terms vary a lot between providers, so read the end-of-lease options before you sign.
- New or used. Many providers finance both. Used and older equipment can come with shorter terms or an appraisal requirement.
Repayment terms are often tied to how long the equipment is expected to last, so a trailer and a large excavator rarely get the same structure.
What funding partners typically look at
- How long you have been in business (many providers want at least a year)
- Your monthly deposits and overall cash flow
- The equipment itself: type, age, condition and price, usually backed by a dealer quote or invoice
- Your credit profile, which matters more with some providers than others
- Your existing debt payments
- For larger purchases, sometimes your contracts or backlog
Every provider weighs these differently. That is the reason to compare more than one option instead of taking the first offer.
Loan or lease?
A loan builds ownership. A lease can lower the payment or make it easier to refresh equipment, but you may not own the machine at the end. The right choice depends on how long you will use the equipment, how fast it loses value, and how the payments fit your cash flow. Tax treatment can also differ, so ask your CPA before you decide.
Tip: Compare the total cost of each offer, not just the monthly payment. A lower payment stretched over a longer term can cost more overall.
How to avoid overpaying
- Get a written quote or invoice from the dealer before you apply.
- Ask for the total amount you will repay, all fees, and the payment schedule in writing.
- Ask whether there is a penalty for paying the balance off early.
- Confirm whether the provider requires a down payment, a personal guarantee, or insurance proof.
- Florida has a commercial financing disclosure law that requires certain providers to give written disclosures of the terms. Ask the provider for them before you sign.
Common questions
Can I finance used equipment?
Often yes. Many funding providers finance used equipment, though age, condition and price can affect the term and whether an appraisal is needed. Availability varies by provider.
Do I need a down payment?
It depends on the provider, your credit and cash flow, and the equipment. Some deals require one and some do not. We will tell you what a given option expects before you move forward.
How much equipment can I finance?
That is decided by the funding provider, not by us. It generally comes down to the equipment value, your business's cash flow and time in business, and your existing debt.
Will I need to sign a personal guarantee?
Many providers ask owners for a personal guarantee, especially for newer businesses. Ask about it up front and read what it commits you to.
See what options fit your business
Tell us about your business once. We will match you with funding partners that fit, and we will tell you plainly if it is not a fit yet. No cost to submit a request.
Request a match →King Tide Funding is a commercial financing referral service, not a lender. We do not make credit decisions, set rates or terms, or hold or move your funds. Independent funding providers make all approval, pricing and funding decisions, and funding is never guaranteed. This page is general information, not legal, tax or financial advice. Talk to your attorney or CPA about your situation.