Excavators dig the footings, trenches, septic systems and utility lines that every other trade waits on. That is why an operator with his own excavator rarely sits idle for long. If your credit took a hit and the bank or the equipment dealer finance desk said no, you are not out of options. We finance credit challenged buyers on the machine itself and the business behind it.
Reviewed by Hard Money Truck Loans Team | Updated October 11, 2026
Every application is reviewed on its own facts. Credit is reviewed, but it is not the deciding factor. Low scores, collections, charge-offs and late payments are workable. No bankruptcy or repossession within the last 5 years.
The lender reviews the specific machine as part of the transaction, including year, make and model, hours, equipment type and specifications. On an excavator the size class, undercarriage and attachments are part of those specifications.
Excavators financed through our program fall inside the $21,000 to $145,000 purchase price window. An established business is 30% down and a startup is 40% down with 2 years of industry experience.
The machine must be purchased from a licensed dealer and there is no minimum credit score. The trenching, septic and demolition examples on this page are educational context only, so you can independently confirm the machine fits the work you plan to perform.
Excavator operators are some of the most in demand people on a job site, but that does not protect their credit from a slow season, an injury or a contractor who never paid. Banks and captive finance companies decline on the score. We look at the whole deal.
There is no minimum credit score. Collections, charge-offs and late payments are workable. Bankruptcy or repossession in the last 5 years disqualifies the file.
We specialize in credit challenged commercial truck and trailer buyers, including many borrowers with scores around 500. Credit is reviewed, but it is not the deciding factor. Low scores, collections, charge-offs and late payments are workable.
Example based on 18 working days, 8 billable hours per day at $135 per hour. Expenses include fuel, insurance, undercarriage and maintenance, attachments and transport. The truck payment is not included because your payment depends on the price, term and rate quoted to you.
Money left on the table before any truck payment, while you keep applying and hearing no.
We will be straight with you. Because we lend to credit challenged buyers, you put more money down than a bank would ask for and you pay a higher rate than a bank would charge. That is the honest cost of getting approved when the bank already said no.
The difference is that a bank decline earns you nothing. A excavator that is working earns money every month. Used wisely, that income covers the payment, pays down the collections on your credit and builds the track record that gets you better terms on your next truck.
Keep the excavator earning. Revenue is what makes everything else possible.
Make every truck payment on time. That history is proof you perform.
Use part of your profit each month to pay or settle collections, oldest and smallest first.
With collections handled and a clean payment record, you are in a better spot for your next truck.
An operator who has installed septic systems and utility trenches for a contractor for seven years has a score in the low 500s from medical collections. He finds a mid size excavator at a licensed dealer for $110,000.
At 30% down he brings $33,000 and finances $77,000. He takes septic and trenching jobs directly, and stops renting machines by the week, which keeps more of every job in his pocket.
This shows how the numbers can work. It is not a specific customer.
Different truck, same kind of credit problem. These are real loans funded for our customers, and the credit situations look a lot like what excavator buyers bring us.
$47,000 purchase price, $14,100 down (30%)
5 collections totaling $21,450. Lost his job and exhausted his savings during several months of unemployment, causing multiple accounts to go into collections.
$139,000 purchase price, $41,700 down (30%)
3 collections totaling $16,850. Several commercial customers delayed payments, creating cash flow problems that caused him to fall behind on personal credit obligations.
All applications are subject to review and approval.
See All Recent LoansYes. Collections and charge-offs are workable and there is no minimum credit score. The machine must come from a licensed dealer. Approval is not guaranteed.
Yes, as long as the purchase price falls inside the $21,000 to $145,000 window and the machine is purchased from a licensed dealer.
Banks lend to borrowers with clean credit and decline everyone else. We lend to credit challenged buyers, so the risk is higher and the terms reflect it: 30% down for an established business, 40% down plus 2 years of industry experience for a startup, and a rate higher than a bank would charge. The tradeoff is that you get the excavator working and earning instead of waiting on a yes that may never come.
No bankruptcy or repossession within the last 5 years. The excavator must also be purchased from a licensed dealer and the purchase price must fall between $21,000 and $145,000.
It can, if you use it that way. The income from the excavator can be used to pay or settle collections and keep your personal accounts current, and a clean payment history on your truck loan shows the next lender you perform. Results depend on your own habits and are not guaranteed.
Same day approvals may be available. Funding can occur in as little as 3 days. Timing depends on how quickly the dealer and you provide what is needed.
Reviewed by the Hard Money Truck Loans Team. Last updated October 11, 2026.
Program terms on this page come from our current lending program. Recent loan examples are real funded deals. Read our Privacy Policy and Terms of Service.
Credit score is only one part of a truck financing transaction. Here are the HMTL program facts worth checking first.
Read MoreA startup with damaged credit can still be considered when it fits the HMTL startup program.
Read MoreSend us the truck you found at the dealer and we will tell you where you stand. No obligation.
Banks won’t touch you, but guess who will!?
