Merchant Cash Advances » Excavation Business Advance

Excavation Business Funding

Man in hard hat and blue shirt examines yellow excavator representing excavation business owner.

By Richard Wilson

Last Updated on

Estimated read time: 7 minutes

If you operate an excavation business and need funding to upgrade heavy machinery for land clearing, enhance site preparation capabilities, invest in specialized trenching equipment, or improve groundworks, MCashAdvance excavation business advances are the swift solution you’ve been searching for.

We offer excavation business advances ranging from $5,000 to $900,000 to help grow your excavation enterprise. We fund all types of excavation businesses, including land clearing, site preparation, trenching services, and groundworks.

Securing financing from banks for excavation businesses can be a lengthy and challenging process, often taking weeks or even months to obtain, with strict approval requirements, extensive paperwork, and a preference for businesses with perfect credit.

An advance from MCashAdvance for excavation businesses offers simpler approval, no paperwork or collateral, the possibility of receiving funds within 24 hours or up to 3 days, and accepts poor credit scores with no hard credit check that won’t impact your credit score upon application.

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MCA Feature Offer Details
MCA Amounts: $5,000 – $900,000
Factor Rate: 1.1 – 1.5
Holdback 10 – 25%
Repay In: 3 – 18 months
Funding Time: 1 – 3 days

Applying is easy, free, and won’t impact your credit score.

Get the excavation business financing you need today.

What is an Excavation Business Advance?

An excavation business advance is a type of merchant cash advance (MCA) created for excavation businesses, including land clearing, site preparation, trenching services, and groundworks.

Your excavation business sells a portion of its revenue to MCashAdvance in exchange for an upfront lump sum of funds called a cash advance.

In exchange, we will deduct a small percentage of your daily sales revenue until the advance is fully repaid.

Emergency Funding for Excavation Companies

In the excavation industry, unique financial needs frequently arise, linked closely to the operational aspects of excavation work, like heavy machinery acquisition, site preparation, and specialized employee training. A cash advance for excavation businesses offers targeted financial support, quickly accessible and tailored for industry-specific needs.

Excavation Business Financing for Any Purpose

Here are 17 common ways a cash advance can be utilized in your Excavation Company:

  1. Heavy Machinery Upgrades: Use the funds to purchase or upgrade heavy-duty excavation machinery like backhoes, bulldozers, and excavators.
  2. Site Survey Equipment: Invest in advanced surveying equipment to accurately assess and prepare excavation sites.
  3. Excavation Safety Gear: Direct the funds towards high-quality safety gear for field crews, including helmets, visibility vests, and protective footwear.
  4. Specialized Training for Heavy Machinery Operation: Use the capital to provide specialized training for your team in operating complex excavation equipment safely and efficiently.
  5. Topographic and Geologic Analysis Tools: Finance the acquisition of topographical and geological analysis equipment to better evaluate excavation sites.
  6. Hydraulic and Pneumatic Tool Upgrades: Use the advance to upgrade your hydraulic and pneumatic tools essential for precise and efficient excavation.
  7. Environmental Compliance Measures: Invest in measures and equipment that ensure compliance with environmental regulations during excavation projects.
  8. Site Restoration and Landscaping Equipment: Direct the funds to purchase equipment for site restoration and landscaping post-excavation.
  9. Fleet Maintenance and Repairs: Use the funds for regular maintenance and necessary repairs of your excavation vehicle fleet.
  10. GPS and Navigation Systems for Precision Excavating: Finance the integration of GPS and advanced navigation systems for precision in excavation projects.
  11. Dust Control Systems: Invest in dust control systems to minimize environmental impact during excavation work.
  12. Rock Crushing and Screening Equipment: Use the capital to acquire machinery for rock crushing and screening, essential in many excavation sites.
  13. Underground Utility Location Tools: Direct the funds to technologies for detecting underground utilities to avoid accidental damage during excavation.
  14. Marketing and Client Outreach: Use the funds to develop targeted marketing strategies for attracting new clients in specific sectors like construction or landscaping.
  15. Employee Certification in Environmental Management: Finance certification programs for employees in environmental management and sustainable excavation practices.
  16. Subsurface Mapping Technology: Invest in subsurface mapping technology to provide detailed underground profiles before starting excavation.
  17. Mobile Office and Communication Equipment: Use the advance to set up mobile offices and communication equipment for managing remote excavation sites effectively.
Yellow excavator operated by excavation business owner digs into ground with precision.

Excavation Company Advance Example

Let’s say you need $5,000 of excavation business cash advance to buy a new excavator bucket for your machine. If you are approved for $5,000 and receive a funding offer with a factor rate of 1.2 and a daily credit card holdback percentage of 15%, your total repayment amount will be $6,000, which means you’ll be paying $1,000 in fees.

Advance Amount$5,000
Factor Rate1.2
Avg Monthly Credit Card Sales$10,000
Holdback Percentage15% of Daily Credit Card Sales
Daily Credit Card Sales$333.33 per day (approx.)
Daily Payment Amount$50.00 per day (approx.)
Repayment Term (in days)Approximately 100 days
Repayment Term (in months)Approximately 3.33 months
Total Repaid$5,000 (Advance Amount) + $1,000 (Fees) = $6,000

Excavation Contractor Funding Eligibility

To be eligible for funding from MCashAdvance you must meet these 5 criteria:

  1. Your excavation business must have been operational for at least 6 months
  2. Your excavation company should be generating a minimum of $100,000 per year in revenue
  3. As the excavation contractor, your personal FICO score needs to be 550 or higher.
  4. Your excavation firm must utilize a business checking account
  5. You, as the excavation contractor business owner, must be over 18 years of age and a U.S. citizen

How to Get an Excavation Company Advance from MCashAdvance

To get an advance for your excavation business from MCashAdvance, follow these 5 steps:

Step 1: Begin Online Application: Click Apply for an MCA to begin.

Step 2: Fill in Your Details: Provide information about your excavation company and some personal details as the owner of the company.

Step 3: Submit Bank Statements: Upload the last three months’ bank statements of your excavation company.

Step 4: Await Review Process: Our underwriters will review your cash advance application to determine if funding can be provided.

Step 5: Receive Offer and Funding: Once you get a funding offer, review it. If it suits your business needs, accept it, sign the MCA agreement and the funds will be deposited into your business account

Get an Excavation Business Advance Now

or learn more about merchant business funding

Excavation Business Funding FAQs

Can excavation businesses get an SBA loan?

Excavation businesses can potentially qualify for SBA loans, and they are most likely to be eligible for options like the SBA 7(a) Loan, SBA Microloan, and SBA Express Loan, which can provide financial support tailored to their industry.

Can excavation businesses get invoice financing loans?

Excavation businesses that engage in substantial B2B contracts and issue invoices for their services could potentially qualify for invoice financing.

Can banks provide loans to excavation businesses?

Banks usually require excavation businesses to have a minimum of two years in operation, a FICO credit score of 680 or higher, three years of cash flow records, and a clear business plan detailing fund usage. Meeting these criteria raises the chances of bank approval. If you can’t meet these requirements, consider exploring alternative lenders like MCashAdvance, which may offer more favorable eligibility criteria for obtaining financial support for your excavation business.

How does excavation equipment financing work?

Excavation businesses can purchase equipment like excavators and use the excavators as collateral to secure financing. At MCashAdvance, you can acquire excavators using our advances without having to use the equipment as collateral.

Can excavation businesses get business lines of credit?

Certainly, excavation businesses can access business lines of credit when they meet criteria tailored to the excavation industry. Qualifications typically include maintaining a FICO credit score of 660 or higher, having at least one year of experience in excavation, and consistently generating monthly revenue exceeding $5,000 as an excavation company.

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