What Magilla Loans Can Offer:
If you need to purchase heavy construction equipment, agriculture equipment, or farm equipment, we have plenty of lenders and options for you. You may want to stay on the cutting edge of technology. We offer a quick turnaround on financing so you can purchase the latest heavy equipment, agriculture equipment, and/or farm equipment available. We also work with lenders who offer real estate financing if you need to purchase or improve farmland.
What do lenders look for?
You can use the heavy construction equipment, agriculture equipment, or farm equipment as collateral for the loan. However, the lender may also want to ensure you have industry experience, a profitable business, or a detailed business plan to demonstrate your expertise in the industry. They may also want to know how the equipment will generate income for the business, and they may ask if you, or one of your employees, have previous experience operating the equipment.
Best practice tips:
- Be prepared to prove how the equipment will generate income
- Look into the licensing requirements for the equipment before you buy
- A good credit score is very important, learn how to improve your credit score