Get Competitive Financing for New or Used Drilling Equipment.
Your Top Ten Guide to Drilling Equipment
Here are the top 10 drilling equipment types that are often financed, whether new or used, for horizontal or vertical drilling:
1. Rotary Drilling Rigs
- Industries: Oil and Gas, Mining, Geothermal
- Description: These rigs are used for drilling in various directions and are versatile for both onshore and offshore operations.
2. Directional Drilling Equipment
- Industries: Oil and Gas, Environmental, Construction
- Description: Used for drilling at multiple angles other than vertical, crucial for reaching difficult locations.
3. Top Drive Systems
- Industries: Oil and Gas, Mining
- Description: A top drive is used to rotate the drill string and enhance the efficiency of the drilling process.
4. Hydraulic Fracturing Equipment
- Industries: Oil and Gas
- Description: Essential for horizontal drilling to extract oil and gas from shale formations.
5. Mud Pumps
- Industries: Oil and Gas, Mining
- Description: These are used to circulate drilling fluid (mud) through the drill string to cool and lubricate the bit and remove cuttings.
6. Auger Drills
- Industries: Construction, Environmental, Mining
- Description: Used for soil drilling, particularly in construction for foundation work and environmental sampling.
7. Core Drilling Rigs
- Industries: Mining, Construction, Geological Exploration
- Description: These rigs are used to take core samples from the ground to analyze subsurface materials.
8. Percussion Drilling Rigs
- Industries: Construction, Mining, Geothermal
- Description: Use a hammering action to crush and break rock formations, often used in hard rock drilling.
9. Cable Tool Drilling Rigs
- Industries: Water Well Drilling, Geothermal, Environmental
- Description: An older method of drilling that is still used for drilling water wells and other shallow applications.
10. Sonic Drilling Rigs
- Industries: Environmental, Geotechnical, Mining
- Description: Use high-frequency vibrations to advance the drill bit, providing continuous and undisturbed core samples.
Industries Utilizing Drilling Equipment
1. Oil and Gas: Primarily for exploring and extracting hydrocarbons from the earth. This industry uses a wide variety of drilling equipment to reach both shallow and deep reservoirs.
2. Mining: Used for extracting minerals and other geological materials from the earth. Equipment such as rotary rigs and core drills are commonly used.
3. Geothermal: For drilling wells to access geothermal energy resources. This includes both vertical and directional drilling.
4. Construction: Utilized for foundation work, pile driving, and creating underground structures. Auger drills and percussion rigs are common.
5. Environmental: Involves drilling for soil and groundwater sampling, remediation, and installing monitoring wells. Sonic and auger drills are frequently used.
6. Geotechnical: For subsurface investigation and analysis, typically involving core sampling to assess soil and rock conditions.
Why Choose Liberty Capital Group for your Drilling Equipment Financing?
Affordability is key when it comes to acquiring a drill rigs. High TIcket item like Drills need an expert that can help you navigate through the approval process especially if you buy through a Private Seller, Sale Lease Back or Used Equipment. Not every bank and lenders will do programs, you have to shop to find one but working with equipment loan broker will save you time and headache trying to find a lender that will do $500,000 on 15 year old drill rig?
Our financing options offer the flexibility you need to manage your cash flow effectively while investing in the equipment necessary to grow your business. With longer loan terms of up to 7 years, we can help you reduce your monthly payments and make owning a high-ticket item like a roll-off truck more manageable.
Compared to traditional lenders, we offer several advantages:
- Corp-Only Available: We cater to businesses of all sizes, including corporations.
- Up to 120% Equipment Cost: Our financing solutions can cover not only the equipment cost but also soft costs associated with acquisition.
- Fast Approval Process: With our simple one-page application, you can get Funding Approval as quickly as the next day.
- No Down Payment Required: Qualified borrowers may access financing without the need for a down payment but might still need to put first and last, security deposit for lower credit or advance payments.
- Lowest Rates: We offer competitive rates for qualified borrowers, ensuring you get the best financing terms available.
- No Pre-Payment Penalties: Enjoy the flexibility of paying off your loan early without any penalties.
Drilling Equipment Financing & Leasing Solutions
Credit Requirements for Drilling Equipment Financing:
For startup we require:
- Business license or active business entity registration.
- Personal guarantees from all owners.
- Minimum 625 credit score.
- No bankruptcies in the last 7 years.
- No unresolved tax liens.
Financing Options for Drill Rigs:
We offer various financing options tailored to your needs:
- Equipment Financing: Spread the cost of the drills over time with fixed payment terms.
- Equipment Leasing: Lease your next drill rig with off-balance sheet financing options like Fair Market Value (FMV) leases.
Additional Financing Benefits:
- $99 for the First 6 Months: Get started with minimal upfront costs.
- 90-Day Deferred Payments: Pay nothing for the first three months.
- Working Capital Loans: Access short-term cash flow solutions for immediate needs.
Preferred Drilling Equipment Vendors:
Need help finding reliable drilling equipment vendors? We’ve got you covered. Let us know your requirements, and we’ll help you find new or Used Drill Rig Dealers who can meet your needs.
Get Started Today!
Ready to invest in a new Drilling Equipment for your business? Apply online today or call our Funding Specialists at 888-588-4128 for personalized assistance. Let Liberty Capital Group, Inc. be your reliable funding partner for all your drilling equipment financing needs. Apply Now!
What do I need to apply?
1. ONLINE APPLICATION: You can fill out our application, upload and authorized us to process. We do soft-inquiry, and our lender will do hard inquiries once you are approved.
2. Equipment Invoice or Quote for the truck or equipment you want to buy. Multiple vendors accepted. We’ll lump them into one monthly payment for you.
3. Banks statements (3-4 months) – Proof income, proof of banking, and proof funds availability in case down payment is needed and to match for ACH Payment Drafting – as an auto pay.
So, if you want expand your rigging trucks business operation, we can handle working capital, term loans, lines of credit and especially Used Heavy Equipment, including horizontal rigs, auger drill, rotary drill, Directional Drilling Equipment and many heavy ticket items all can be financed. Apply now to get your business capital to grow. Call now 888-511-6223.
Drilling Equipment Financing Application Only up to $250,000
One of the utmost necessities for a Rig Operators and Management Companies are the two essential equipment – rig, rigging trucks and flatbed trucks. It’s imperative to ensure that operational equipment, which serves as an asset for the company, is well-maintained and kept current. Equipment loans or leasing are viable routes for expanding a heavy construction company. Leasing, in particular, offers numerous advantages, though they won’t be explored here today. One notable benefit of equipment leasing is the accompanying tax advantages, cashflow saving, inflation buster and safety from obsolesense.
Covers many types of equipment in the Oil Industry
Easier to get than walking to a bank.
Used Drill Rig Equipment Financing are easy to get. Here is why:
Less paperwork
Fast processing time
Less stringent requirements for qualifying
No collateral needed, the equipment is the collateral
May require less credit score for you and your business as well
Guide to Drill Rigs and Rigging Truck Financing
Ensuring your riggin dril trucks is crucial for running a successful well drilling or well drilling business. However, these specialized vehicles come with significant costs. Drill rigs and the trucks may range from $100,000 to $300,000, while heavy-duty drill trucks with full rigging can exceed $500,000.
Why Financing Your Next Drilling Equipment?
Affordability is paramount when investing in drilling equipment and rigging trucks. Financing offers the advantage of spreading the cost over an extended period, with loan terms of up to 7 years available for heavy duty equipment and machinery. This results in reduced fixed monthly payments, making these high-ticket items more manageable for businesses.
Leasing equipment that depreciates in value can also preserve working capital. By avoiding large upfront expenditures, businesses can allocate funds towards hiring skilled personnel, marketing efforts, and other operational needs. DRilling equipment and rigs can both fall in the commercial truck categories of Heavy Equipment in the oil industry is critical. It’s bust and boom business so cashflow is critical in survival trying to weather some down turn throughout the business cycle will keep you awake at night.
Advantages of Choosing Liberty Capital Group, Inc.
When it comes to drilling equipment financing, Liberty Capital Group, Inc. offers several advantages over traditional lenders:
– Corp-Only Availability: We cater exclusively to corporations, providing tailored financing solutions for businesses.
– Up to 120% Equipment Cost Coverage: Our financing options can cover not only the equipment cost but also associated soft costs.
– Flexible Funding Amounts: Access financing ranging from $250,000 with a simple one-page application to $5,000,000 with financial statements.
– Quick Approval Process: Benefit from next-day funding approval, ensuring minimal downtime for your operations.
– Approved Equipment Vendors: We work with approved to package your equipment vendors, streamlining the acquisition process for our clients.
– Competitive Industry Rates: Enjoy competitive rates for qualified borrowers, reducing the overall cost of financing.
– Eligibility for New and Used Equipment Financing: Whether you’re purchasing new or pre-owned equipment, we’ve got you covered.
– Minimal Impact on Personal Credit: Our financing solutions do not appear on personal credit reports, preserving your personal credit history.
– No Pre-Payment Penalties: Enjoy the flexibility of paying off your loan early without incurring penalties.
Liberty Capital Group Financing Programs For Drill Rigs
At Liberty Capital Group, Inc., we offer aggressive financing programs designed to meet the diverse needs of our clients. Our solutions typically involve two primary options:
– Equipment Financing: Spread the cost of any equipment over time with fixed payment terms.
– Equipment Leasing: Opt for off-balance sheet financing with Fair Market Value (FMV) leases, providing flexibility at the end of the lease term.
Additional Financing Benefits Our financing options include:
– $99 for the First 6 Months: Start with minimal upfront costs.
– 90-Day Deferred Payments: Pay nothing for the first three months.
– Working Capital Loans: Access short-term cash flow solutions for immediate needs.
– Fast Approvals: Apply online for funding up to $250,000 with a Streamlined Process.
Preferred Leasing Vendors
Utilizing our extensive experience in commercial truck financing on drill rigs, rigger trucks, we can assist you in finding reputable vendors for new or used equipment rigs Additionally, if you’re a vendor seeking financing for rig trucks, we’re ready to serve your needs.
Get Started Today!
If you’re seeking a reliable funding partner for your commercial truck and equipment financing needs, can be daunting. You start with a simple apply online today or call our Funding Specialists at 888-588-4128 for personalized assistance. Let Liberty Capital Group, Inc. empower your business with comprehensive financing solutions tailored to your requirements.
Our small business financing experts are available to guide you through the funding Process.
Despite technological advancements, loans, especially in drilling equipment financing, predominantly involve personal interaction with an underwriter to ensure as fraud prevention. Automation may not suffice, particularly when dealing with a third party like the vendor and the complexities of equipment purchase. In such scenarios, business owners are often better served by collaborating with a Business Loans Broker like Liberty Capital Group, Inc., who can steer them in the right direction.
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