When does refinancing make sense?
Not every operator should refinance — but in the right circumstances the math is dramatic. We give you a candid view of the numbers before any paperwork is signed.
- Existing equipment loans are above current market rate
- Equipment is paid down 50%+ and you want to free working capital
- You are carrying multiple equipment notes and want one schedule
- A balloon payment is coming due and you need to roll it forward
- Your business credit profile has materially improved since the original loan
- You acquired equipment via a private purchase and want to put it on lender paper
What we can refinance
Almost any titled commercial equipment with remaining economic life is eligible. The most common refinances we close are:
- Highway tractors and vocational trucks
- Reefer, dry-van, and flatbed trailers
- Excavators, loaders, dozers, and skid steers
- Aggregate and crushing equipment
- Specialty vehicles (recovery, septic, vacuum, refuse)
How the process works
A clean refinance moves quickly — most of our refi files fund within seven to ten business days from a complete application.
- Provide a quick equipment summary and current payoff balance
- Soft credit + business profile review (no impact to score)
- Lender match and indicative offer within 24 hours
- Equipment appraisal and final underwriting
- Close, payoff, and new schedule begins
Frequently Asked Questions
Will refinancing extend my term beyond what is sensible?
We will not let you finance an asset past its useful life. If a refinance would push the schedule past the equipment's reasonable economic life, we will say so and propose alternatives.
Does refinancing show on my credit report?
A new equipment loan does report as a new trade line. The original loan is closed and reported as paid. Net effect on a healthy business is generally neutral to positive.
How much working capital can I pull out?
Cash-out depends on the appraised value of the equipment and the lender's loan-to-value comfort. Mid-cycle equipment commonly supports 50–70% LTV.
Are there prepayment penalties on a refinance?
Lender by lender. Many of our partners offer open loans with no penalty after 12–24 months. We will flag the exact terms before you sign.
What documents are usually required?
For applications under $250,000 the file is typically minimal — a one-page application and basic ID. Above $250,000 we generally request two years of business financial statements and the most recent three months of bank statements. Specific lenders may also request equipment quotes, articles of incorporation, or a personal net-worth statement.