Construction Equipment Financing

When looking to finance the purchase of construction equipment, there are a few options available to you. Your bank or credit union may be able to offer you a variety of construction equipment financing options, depending on your individual situation. Some common types of financing include:

-Fixed-rate loans: These loans have an agreed-upon interest rate throughout the entire loan term.

-Adjustable rate loans: These loans have an interest rate that can change over time, based on a predetermined index.

-Home equity lines of credit: This type of loan is typically used to purchase larger items, like trucks or bulldozers. Because these are unsecured loans, you could lose all your money if you can't repay it in full. To avoid this risk, make sure to get pre-approved for a home equity line of credit before applying for one.

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