Equipment Financing Companies

Reach

Reach

Been here much more than a while
Location
Atglen, PA
We are working on buying another lift, and looking for a good finance company to work with. The one we used to use, that we loved, has stopped responding to our emails so I'm looking for another option.

Any recommendations for a good finance company, that will be responsive, work with us on tree equipment, and give us reasonable rates and no crazy prepayment penalties?
 
The manufacturers seem to offer the best rates, no?

Have you worked with any local banks? (not local branch of a national bank...a locally owned bank (that may or may not be sold or merged before you pay off the loan...).
 
ATH said:
The manufacturers seem to offer the best rates, no?

Have you worked with any local banks? (not local branch of a national bank...a locally owned bank (that may or may not be sold or merged before you pay off the loan...).
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Manufacturers usually work through an outside finance company, they don't usually hold the note themselves. That is an option, but I'm not sure if we want to go that way or stay independent. Also, the rates they advertise online seem to be very hard to get, even with a top credit rating we've never seen those numbers when we have applied for a loan.

Local banks are wonderful, but in my experience they are not always real willing to finance for specialty equipment like we use. Trucks are not usually a problem, but when you say "wood chipper" or "spider lift" around here, they tend to look at you like you have three heads.
 
Reach said:
Manufacturers usually work through an outside finance company, they don't usually hold the note themselves. That is an option, but I'm not sure if we want to go that way or stay independent. Also, the rates they advertise online seem to be very hard to get, even with a top credit rating we've never seen those numbers when we have applied for a loan.

...
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I think they (manufacturer) must supplement the loans. The only equipment loan I've ever taken was last year 0.99% for 36 months from Avant (other option was 0% for 24 months)...but I think they may be holding the note based on the statements I get unless they are also sending paperwork on behalf of whoever is underwriting the loan???

Are you set on a specific lift? If you are looking at different manufacturers, that may be a part of the price negotiation and maybe (???) the salesman can help with that. "We are ready to buy if you can get us financed at the advertised rate."
 
ATH said:
I think they (manufacturer) must supplement the loans. The only equipment loan I've ever taken was last year 0.99% for 36 months from Avant (other option was 0% for 24 months)...but I think they may be holding the note based on the statements I get unless they are also sending paperwork on behalf of whoever is underwriting the loan???

Are you set on a specific lift? If you are looking at different manufacturers, that may be a part of the price negotiation and maybe (???) the salesman can help with that. "We are ready to buy if you can get us financed at the advertised rate."
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It's possible that they are holding the note, I don't know. We've never financed a large machine through a manufacturer. Back when I owned a couple lawn services we financed mowers through manufacturers, and they always used a third-party finance company. We tried to finance a new Bandit chipper a couple years ago through the factory, and found out that was a third-party offering through the dealership.

Pretty confident we are buying another CMC, I just can't seem to give up a couple of the features they have that no one else seems to match. Seems like once you get used to one machine, it's hard to go to another
 
ATH said:
I think they (manufacturer) must supplement the loans. The only equipment loan I've ever taken was last year 0.99% for 36 months from Avant (other option was 0% for 24 months)...but I think they may be holding the note based on the statements I get unless they are also sending paperwork on behalf of whoever is underwriting the loan???

Are you set on a specific lift? If you are looking at different manufacturers, that may be a part of the price negotiation and maybe (???) the salesman can help with that. "We are ready to buy if you can get us financed at the advertised rate."
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They finance through Auxilior Capital. ATFS is not in any way related to Avant Manufacturing or your dealer. It's a shell corp.

I can't say anything else on that topic unfortunately.
 
Brando CalPankian said:
They finance through Auxilior Capital. ATFS is not in any way related to Avant Manufacturing or your dealer. It's a shell corp.

I can't say anything else on that topic unfortunately.
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So I just looked at a statement. It says "AVANT TECNO Financial Solutions" all over it. But at the bottom it has an overnight delivery service contact addressed to: "Bank of America Lockbox Services, Auxilior Capital Partners" So its apparently a shell of BOA. Not asking you to say more. Just confirming what you said. I wonder if Avant handles some of the paperwork to help keep the lower rate. There is no way I can go to any lender and get 0.99% so they are clearly taking on cost to sell a machine.

I got quotes from Bobcat on an MT100, they had 0% or $4000 off. So its a little more clear how much they are eating to finance the machine for you. I asked if the Avant would cost less if I paid cash, and they said no....so I figured I might as well take the loan even as much as I despise borrowing money.
 
ATH said:
So I just looked at a statement. It says "AVANT TECNO Financial Solutions" all over it. But at the bottom it has an overnight delivery service contact addressed to: "Bank of America Lockbox Services, Auxilior Capital Partners" So its apparently a shell of BOA. Not asking you to say more. Just confirming what you said. I wonder if Avant handles some of the paperwork to help keep the lower rate. There is no way I can go to any lender and get 0.99% so they are clearly taking on cost to sell a machine.

I got quotes from Bobcat on an MT100, they had 0% or $4000 off. So its a little more clear how much they are eating to finance the machine for you. I asked if the Avant would cost less if I paid cash, and they said no....so I figured I might as well take the loan even as much as I despise borrowing money.
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We offer financing to our customers through an independent finance company. We have the option to offer them various terms, including 0% financing for as long as two years. The longer 0% term we wish to offer, the greater percentage of finance company takes out of the money they give us. I'm sure equipment financing works in a similar manner. In order to get that 0.99%, Avant probably gives the finance company an additional 3% discount on the machine.
 
If I need money fast and for something my credit union won’t finance I go with AP Financing. They understand our industry and the values of the equipment in a way that traditional banks don’t.

You can negotiate the terms to a point but their job is to make money on interest and don’t really want to lend if you are going to pay it off instantly with no penalty.

They’ve financed 3 pieces of equipment for us and have been very easy to work with.
 
Ryan Cafferky said:
If I need money fast and for something my credit union won’t finance I go with AP Financing. They understand our industry and the values of the equipment in a way that traditional banks don’t.

You can negotiate the terms to a point but their job is to make money on interest and don’t really want to lend if you are going to pay it off instantly with no penalty.

They’ve financed 3 pieces of equipment for us and have been very easy to work with.
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Thank you. I understand they don't want to loan and be repaid instantly which leaves them with no income, but it's nice to have a reason to pay something off early too.

I'll be filling out their application later today, we will see how it goes.
 
Reach said:
Local banks are wonderful, but in my experience they are not always real willing to finance for specialty equipment like we use. Trucks are not usually a problem, but when you say "wood chipper" or "spider lift" around here, they tend to look at you like you have three heads.
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Having a great relationship with "your" banker is a great asset. I'm very lucky in that regard.
At 12:50pm on a random Wednesday last year I text my banker, starting the conversation about buying a telehandler.
1788275931640.webp

At 1:03pm I said it would be $450-500k. At 1:09PM he sent back:
1788276415261.webp



Literally 19 minutes and 9 text messages total. I used the grapple truck as the down payment/bringing the LTV down. Another conversation got the term pushed out considerably to make my required payment palatable (thinking weathering the slow seasons). Signed the loan a couple weeks later (after deciding on the machine, dealer, deal), got the machine on 6/26/25 and got the title back for the grapple truck in early October 2025.

The only potential penalty is if I refinance it somewhere else, no penalty for early payoff, and if rates change I can ask them to recast the loan (they've done that before).


My general vote would be to shop local, but there are plenty of options across the country to get it done.


Normally mfg/dealers don't hold the paper, they buy down the rates to get the deal done through a typical finance company.
 
I’ve had a really good run with Western Equipment Finance. Joel Schuman was always on point for me. It all started through buying our first spider lift. From there it’s been a whole lot more. Turn around have been really quick. If I initiate something late in the week it’s never been funded, wired and closed later than the following Friday.

I do agree with what @Lumberjack is saying about a local bank. With all the above said, we are also trying to get out of a bank that I’ve had an account at since childhood. It’s been swallowed up by bigger banks multiple times and not a great look right now. We’re putting things into a local bank and in 16 months, once all loans have come to term, we’ll be working solely with them.

Equipment is one avenue, and property/land is another. The local bank can definitely help with both.
 
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