A construction company's truck fleet is a profit center and a liability at the same time. Every unit that rolls to the job site earns. Every unit parked for a repair or grounded because a replacement wasn't financed in time costs you a subcontractor day rate or a deadline penalty. Fleet uptime on the construction side is not an operations metric, it's a contract compliance metric.
We finance the full range of work trucks that construction companies deploy: dump truck fleets for earthwork and materials hauling, flatbed trucks moving steel, rebar, and formed concrete panels, crane trucks for setting steel and placing heavy materials, and service trucks that keep the rest of the fleet and the equipment running in the field. We also finance the trailers that move heavy equipment between job sites, including lowboys for tracked machines and step-decks for oversized loads.
Construction fleet deals start at $50,000 and the typical transaction is $100,000 to $150,000 or more. Multi-unit purchases, equipment packages, and fleet replacement programs can all be structured as a single transaction. Application-only approval is available up to approximately $400,000 for established construction contractors. Three months of business bank statements is the standard documentation package at that level.
Construction Trucks: Spec and Financing Considerations
Dump trucks are the workhorse of most construction fleets. Tri-axle straight trucks in the 14-yard to 16-yard range and tandem-axle configurations handle most earthwork cycles. For heavy material moves, a quad-axle or quint-axle straight truck extends capacity without requiring a separate trailer. The spec matters for financing because lender appetite varies by gross vehicle weight rating, body type, and whether the truck is a standard dump or a specialized configuration like a transfer or a side-dump.
Crane trucks, also called knuckleboom or boom trucks, carry a significantly higher per-unit value than a standard flatbed, and the crane attachment is part of the collateral. We underwrite these as a complete unit. Construction companies using crane trucks for steel placement, HVAC equipment lifts, or precast concrete work can finance the truck and boom together through our program.
Lowboy and step-deck trailers move tracked excavators, bulldozers, and other construction equipment between job sites. The lowboy trailer financing and step-deck trailer financing programs cover these assets, which often pair with a heavy-duty tractor in a two-piece combination. We can structure the tractor and trailer as a package transaction.
Service trucks are underwritten differently. A lube truck or mechanics truck with a crane and tool storage is a specialized asset. Lender appetite for service trucks depends on the body configuration and the equipment mounted to it. We have placed these in programs that recognize the total installed value, not just the chassis price.
Timing Matters on Construction Equipment
Construction contractors face a recurring timing problem: equipment needs show up mid-project when there is no slack in the schedule. A dump truck goes down, a subcontract haul goes out to a competitor, and the general contractor notices. Or a new contract is awarded with a mobilization date four weeks out and the fleet is not big enough to staff it properly.
Our process targets a close in one to two weeks on most construction fleet deals. The application, three months of bank statements, and sometimes a current equipment list is the starting package. For transactions above $400,000, two years of business tax returns and current financials are added. We move the file to credit the same day the package arrives complete.
For contractors with established credit and prior equipment loans that paid cleanly, an application-only approval covers a large share of construction fleet transactions without the full financial package. That shortcut matters when the deal needs to close before a mobilization date.
New vs. Used Equipment for Construction Fleets
Construction contractors buy both new and used equipment, and the financing decisions are different. New trucks from the dealer come with factory warranty coverage, which reduces downtime risk and often improves lender terms. Used equipment in the construction space is heavily inspected because dump trucks and crane trucks accumulate hard hours fast. A used unit at a good price can be the right call, but we want to see the condition and ideally an inspection report before putting it into a deal.
Older equipment that has been reconditioned, repainted, or had a new engine installed can still finance, but the lender pool is narrower. Our used truck fleet financing program covers construction equipment in that category. The rate will reflect the asset age and condition, but the structure is the same: fixed payments, defined term, and a clear payoff path.
Construction companies looking to free up capital from trucks they already own should consider a sale-leaseback. If you have three paid-off dump trucks and need working capital for a large material purchase or to cover payroll through a slow receivables stretch, we can value those trucks, buy them from you, and lease them back. You keep the trucks, you get the cash.
