Heavy Equipment Finance Utah

Paradigm Equipment Finance provides upfront, easy-to-understand guidance for businesses seeking industrial equipment financing. We serve businesses throughout Utah and the lower 48 states as an alternative lender, providing construction equipment financing to bad credit and subprime borrowers who have solid business fundamentals and a comprehensive understanding of the assets they’re pursuing.

Below is a review of our heavy equipment financing guidelines. Please bear in mind that Paradigm Equipment Finance is a collateral lender, and that all decisions are based on our evaluation of the type and value of the equipment being leased.

Deal and Credit Analysis

Before moving forward with any heavy equipment finance, we require that our clients provide the following information for credit analysis:

  • Application for lease
  • Authorization to pull credit
  • Minimum three months of bank statements
  • Equipment list of pledged collateral
  • Proof of ownership of all pledged collateral
  • Invoice or proposal for equipment to be purchased
  • Corporate and personal financial statements and tax returns for deals over $150,000

Credit Guidelines

As an asset-based lessor, we strive to accommodate lessees regardless of traditional creditworthiness metrics. Below is a matrix of guidelines to be used in determining pricing and collateral requirements:

*Based on monthly lease payment. Approval will be subject to an analysis of a minimum of three monthly bank statements.
TierGradeCreditCover RatioDeposit Requirement / Extra Equipment*Average Monthly Deposit Required*Average Ending Balance
IA700+1:1:110% Cash / 1.25:120x Pmt6x Pmt
IIB660-6991.2:120% Cash / 1.5:115x Pmt4x Pmt
IIIC620-6591.5:133% Cash / 1.75:115x Pmt4x Pmt
IVD580-6192:150% Cash / 2:112x Pmt2x Pmt

Deposit and collateral requirements are subject to minimum coverage ratios. More conservative requirements are taken when using equipment in place of cash deposits. Set pricing is also subject to meeting all minimum Tier requirements. For example, if a lessee has a 700+ credit score but average monthly deposits of 16x the new monthly lease payment, the lessee is scored as Tier II instead of Tier I.

Equipment and Industries

Each individual piece of equipment being leased requires a valuation in excess of $10,000. Paradigm Equipment Finance retains the rights to make an exception based on a blanket UCC-1 lien on company’s assets. The following is a list of preferred and restricted equipment and industries we deal in.


  • Heavy Construction / Yellow Iron
  • Titled Trucks & Trailers
  • Heavy Industrial Equipment
  • Mining (surface equipment)
  • Manufacturing (Min. value +$10,000)
  • Agriculture
  • Medical


  • Equipment valued under $10,000
  • Restaurant
  • Heavy Industrial Equipment
  • Technology / IT
  • Leasehold Improvements
  • Anything related to CBD

Inspection and Valuation

After a proposal receives a conditional approval and receipt of the initial deposit required, Paradigm Equipment Finance will move forward with due diligence. As part of our due diligence, we complete a thorough evaluation of collateral and a site inspection of the business.

Completed reports include pictures, notes and values of the collateral item(s), as well as pertinent information regarding industry, condition and resale values. The scope of an inspection with vary depending on the nature of the assets and collateral involved.

Secure the Assets Your Business Need

Looking for an asset-based lessor in Utah who can help your business transcend traditional financing options to get the equipment you need? Let Paradigm Equipment Finance help you the way we’ve helped other business like yours. Contact us today at 801-682-8648 for more information about our lending process or to speak with one of our experienced team members.