Everest Equipment Financing

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Frequently Asked Questions

From financing basics to tax advantages, our Heavy Equipment Finance FAQs are designed to provide you with clarity and peace of mind. Because at Everest Equipment Finance, we’re more than a lender, we’re your partner in reaching new heights.

Frequently Asked Questions

Equipment financing is a specialized loan or lease that allows your organization to acquire heavy equipment today and make payments over time. Almost any type of heavy equipment can be financed, and for small to medium-sized businesses, this helps you preserve working capital, minimize large upfront costs, and unlock tax advantages while allowing your operations to run smoothly and stay competitive.

 

During the life of your loan or lease, your company will make regular payments to cover the price of the equipment plus interest. Once the repayment term is over, you’ll either own the equipment, if it’s a loan, or, for a lease, you can either renew the financing or return the equipment.

 

Everest Equipment Finance offers heavy equipment financing via its lenders. These lenders are not like traditional banks, which generally don’t get involved in heavy equipment financing because of their lack of expertise in structuring terms that meet the needs of businesses with seasonal demand trends.

  • Reduced concern regarding cash flow because equipment financing preserves working capital for growth and daily business operations.

 

  • Elimination of the uncertainty regarding accounts payable because equipment financing provides a pre-determined and fixed monthly payment for the life of the financing agreement.  

 

  • Less worry about funding to acquire new equipment, as 100% financing is often available as an option when seeking heavy equipment financing.

 

  • Opportunity to realize tax advantages via the Section 179 deduction program.

 

  • The chance to generate cash flow from the immediate use of your new equipment to help offset monthly payments.

Loan 

  • You are buying the equipment and building equity as you pay it off. Once it’s paid, it’s yours to keep, which is perfect if you want long-term ownership of assets of vehicles like dump trucks, haul trucks, or loaders, those that you’ll use for years.

Lease

  • More like a long-term rental. You make smaller monthly payments, and at the end, you can usually execute a buy-out option or renewal at the end of your term. Leases are ideal if you want to keep your fleet fresh.  As an example, one of our demolition company clients upgrades their excavators and pavers every few years through 100% equipment leasing, so they’re always running the latest gear with the least cash outlay possible.

 

Which is better? It depends on your goals. If you want ownership and long-term ROI, a loan is usually the way to go. If keeping payments low and upgrading often matters more, a lease might be the smarter move. We’ll help you run the numbers so you can make the call that fits your business. 

We make it easy with 100% equipment financing for any type of heavy equipment — construction equipment, commercial vehicles, semi-trucks, dump trucks, service vehicles, and even specialized machinery. Whether you need a loan or lease, we’ll help you find the best fit so your business can keep moving forward. 

 

For example, a paving contractor used our paving equipment financing program to upgrade their pavers and rollers before peak season — without tying up their cash.  This put them in an excellent position to take advantage and quote on jobs as soon as the word got out.  

The term of your finance program is dependent on a few variables and can vary based on the type of loan. Generally speaking, you can finance heavy equipment from one year to ten years.

Financing heavy equipment allows you to keep your cash reserves, or working capital, intact so you can manage the business and continue to use those funds for payroll, fuel, or even growth projects.

 

With our fast commercial vehicle financing approvals, they were hauling in extra revenue within a week.  

Section 179 Depreciation provides an opportunity for tax savings if you complete the appropriate paperwork and take the deduction in the first year that the equipment was put into service. 

 

For more information on Section 179 Depreciation, check out our detailed overview here: Section 179 Depreciation Overview

We work faster than traditional banks and provide funding in a few days, and often within 24 to 48 hours.  You can purchase the new our used equipment you need, and keep your customers happy at the same time. 

 

Not too long ago, we helped a construction contractor replace two skid steers mid-project.  With our fast turn-around in finance funds, they were still able to keep their crew working as planned and hit their completion deadline.

You can finance pretty much anything that keeps your operation moving — new and used equipment typically qualifies, including pre-owned and refurbished vehicles. This includes construction dump trucks, mining haul trucks and loaders, pavers, utility trucks, recycling and waste removal vehicles, and even renewable energy equipment.

 

If it is heavy equipment and it helps you work smarter or expand faster, we can likely finance it.

At Everest Equipment Finance we partner with you to learn your business and create a financing option that suits your needs.  We lay out every fee, rate, and payment schedule clearly so there are no surprises.

 

Recently a manufacturing company told us they chose our company over another lender because “Everest explained everything up front — no hidden costs, just clear manufacturing equipment financing terms we could trust.”

Yes. Many industries like construction, paving, and snow removal have seasonal cash flows and we can tailor your financing to pay more when you are busy, and pay less when you’re not.

 

We offer flexible payment structures, monthly, quarterly, or even seasonal, to coincide with your cash flow. We know you have to manage downtime, seasonal work, and growth opportunities, and understand your need to build solutions around these business trends.

We can help with fleet financing so you can refresh or upgrade your vehicles on a regular schedule, so you avoid breakdowns and keep your crews working.

Our commercial vehicle financing and construction equipment loans are usually approved in 24–48 hours, with funding immediately after.

 

A paving company replaced two dump trucks in three days using our fast paving equipment financing approvals, saving a multi-million-dollar contract.

 

We move quickly because we know that every day without the right material handling vehicles, pavers, or service trucks will cost money. We work quickly to help you keep your business moving. 

When you meet with one of our finance specialists, we will share all the details of your finance options. We’ll break it all down, including how 100% equipment financing and tax advantages can work in your favor. No fine print, just clarity so you know the real cost upfront.

No. We are direct and transparent about every heavy equipment finance program we offer. One waste removal company told us they signed with us because “you guys actually explained the waste removal equipment financing terms in plain English.” We did this for them, and we will do it for you.

Yes. We designed our business to provide every client with a dedicated representative who answers your calls and knows your business. No phone trees, no runaround.

 

Our business was founded on the belief that securing equipment financing should be fast, clear, and reliable — and not an uphill climb. We set out to raise the standard in commercial lending, and do our best every day to offer business owners and operators a more responsive and flexible alternative to traditional banks. 

We can bundle all costs into your finance plan, up to 25% of the total equipment cost, to help you get the equipment you need as fast as possible. This can include all equipment add-ons, delivery costs, and other extras. You won’t get stuck with surprise costs and you can keep your operation running smoothly.

We have helped businesses in over nine industries, from waste haulers, manufacturers, paving contractors, and demolition crews, all expand faster and smarter. We’re happy to share their stories (and numbers) so you can understand the impact on their business and envision how it can help your company reach new heights. 

Everest stands for strength, resilience, and clarity above the clouds. Whether you are financing your next fleet, replacing aging machinery, or scaling operations, we’re here to support your ascent with dependable heavy equipment financing and personalized cash flow solutions that help you move forward.

Simply call  us at 800-466-7224 or complete an inquiry via our Contact Us form here on this website.

A credit score of 650 is the minimum most equipment financing lenders typically require. Since this is business financing and not consumer financing, the credit score is just one factor in the approval process.

 

Other important qualifications include:

  1. At least 2 years of business operations under current ownership.
  2. Previous borrowing history.
  3. The type and value of equipment being financed. 

Click on the Apply Now button from any page on our website.  From there you can complete a form and we’ll call you and walk you thought the process.  Or you can download the application form and send it to us via email. 

And, if you need funds fast, you can call our toll free number 800-466-7224.