Updated September 29, 2026.
An excavator can help a contractor take on larger jobs, replace an unreliable machine or increase capacity. If your credit has a blemish, the financing question is still worth asking. A credit score is one part of the review, alongside the business’s cash flow, the equipment, the seller and the reason for the purchase. Approval and terms depend on the full transaction.
GFLS reviews equipment financing requests for contractors nationwide. Start with the construction equipment financing guide for the broader program, or send a quick financing request with the machine and approximate purchase amount.
What matters when credit is challenged?
Explain what happened, what has changed and how the proposed payment fits the business today. Recent bank activity, existing debt obligations, time in business, project pipeline and ownership experience can help tell the current story. A prior decline elsewhere does not guarantee a GFLS approval, but it does not always end the conversation.
For a contractor adding an excavator to an existing fleet, describe the work it will perform. A purchase tied to a replacement, a signed contract, a capacity need or reduced rental expense is easier to evaluate when the numbers and timeline are clear.
New or used excavator?
Both new and used machines may be considered. For a used excavator, include the year, make, model, hours, condition, attachments, seller information and asking price. Maintenance records and an inspection can be useful when available. The asset’s value and remaining useful life affect how a transaction can be structured.
There is no single reliable price range for every excavator: size, age, hours, condition, attachments and local availability change the purchase price. Use a current dealer quote, listing or purchase agreement rather than an old price estimate.
What should I prepare?
- A current equipment quote or listing, including any attachments and delivery costs.
- Recent business bank statements and a concise explanation of the purchase.
- Business financial statements or tax returns if requested for the transaction.
- Details about existing equipment debt and the work the excavator will support.
- A short, factual explanation of any material credit issues and subsequent improvements.
GFLS may ask for more information depending on the applicant, machine, seller and amount. An organized request can reduce back-and-forth, but no specific decision or funding time is guaranteed.
Will I need money down?
The first payment, deposit, advance amount, fees and payment schedule vary with the approval and transaction. Ask for a complete written breakdown before signing. Some qualified transactions may have different structures, so do not assume that every deal has no money down or full financing.
Take the next step
If you have a machine in mind, send the basic details through the two-minute quick request. If you are ready to provide ownership, business and seller details, use the full equipment financing application. GFLS can explain what additional documents the review needs.
All financing is subject to credit approval, program availability and final documentation. Rates, terms, advance amounts, deposits, fees and timing vary by applicant and transaction.
