Yes. Excavators, dumpers, loaders, telehandlers, rollers, crushers, site generators, welfare units, scaffolding and mobile CCTV towers can all be financed, new or used. CW Asset Finance works with lenders who understand construction and groundworks and will look at both owner-operators and established contractors.
Plant holds its value reasonably well and is easy to identify, which makes it attractive security for lenders. That usually means a decent choice of funders and terms typically running over a few years, matched to how long the machine will earn. Attachments and ancillary kit can often be included in the same agreement.
Construction is cyclical and payment terms in the sector can be slow, so lenders will look closely at your work pipeline, retentions and cash flow as well as your accounts. A strong forward order book helps. Newly formed contractors may face tighter terms or be asked for a larger deposit.
Because the machine is the lender’s security, arrears can result in it being taken back and the work it supports being lost. You will also need to insure the equipment and cover theft risk, which is significant in this sector. Approval is never guaranteed.