Mining & Aggregates

Mining and aggregate production runs on heavy iron, and heavy iron accumulates equity. A 90-ton excavator or an articulated dump truck that has been working a quarry face for four years is not just a depreciated machine. It is a capital asset with a real lien position and real cash value. Cash-out equipment refinancing puts that capital to work rather than letting it sit in the ground along with the rock being extracted.

We work with quarry operators, aggregate producers, sand and gravel operations, surface mining contractors, and portable crushing and screening companies. The equipment classes span the full range of heavy production equipment, and most of it supports refinancing as long as the market value is there.

Minimum transaction is $50,000. Mining and aggregate transactions often run significantly higher given the capital intensity of the equipment involved. Multi-million dollar fleet refinancings are not uncommon in this industry. We handle both single-machine transactions and comprehensive fleet restructurings.

The primary equipment classes in mining and aggregate production that we lend against:

• Excavators and large track hoes. Excavator refinancing in mining contexts involves larger machines than construction: 50-ton, 70-ton, and 90-ton class units from Komatsu, Caterpillar, Hitachi, and Liebherr. These are multi-hundred-thousand-dollar assets with deep secondary markets.
• Articulated dump trucks. Articulated dump truck refinancing is a core transaction in quarry and aggregate haul operations. Volvo A40s, Caterpillar 740s, and John Deere 460Es all have strong secondary market comps.
• Dozers. Bulldozer refinancing applies to the D8 and D9-class machines used in overburden removal and road building within mining sites.
• Wheel loaders. Large wheel loaders loading crusher feed and aggregate trucks carry significant equity after multiple years of quarry service.
• Crawler cranes. Crawler crane refinancing applies to the large lift equipment used in mining infrastructure construction and maintenance.

Portable and stationary crushing and screening plants are evaluated case by case. They have more limited secondary markets than the mobile earthmoving equipment, but name-brand portable plants from manufacturers like Kleemann, Sandvik, and Terex often have refinanceable value.

Aggregate and mining businesses face capital demands across two timelines. The first is immediate: a new crushing contract, an expansion to a new pit, a haul road extension, or acquisition of additional permitted acreage all require capital now against revenue that comes over months or years. The second is long-cycle: major equipment rebuilds, crushing plant upgrades, and processing line improvements that are large expenditures with long payback periods.

Equipment equity is one of the cleanest sources for both timelines. It is not dependent on the current commodity price, it is not subject to environmental permit conditions, and it does not require a permit amendment or mining plan modification. The iron you have paid down is simply a financial asset you can borrow against.

Aggregate producers in active construction markets like Phoenix, Salt Lake City, and Denver where construction demand drives consistent aggregate consumption run this structure as part of their regular capital planning, not as a distress tool.

Mining equipment accumulates hours faster than most other industries. A haul truck working a quarry can accumulate 3,000 hours in a single year. Evaluating high-hour mining equipment requires understanding the rebuild cycle and actual machine condition rather than applying a generic depreciation formula.

We account for that. A Komatsu PC360 with 8,000 hours that has had its engine and undercarriage rebuilt within the last 2,000 hours is a different asset than the same machine that has never been touched. Maintenance records, rebuild documentation, and current utilization all factor into our assessment.

Used equipment purchased at auction or from another mining operation can also be refinanced after acquisition, particularly if it was purchased at a favorable price relative to current market value. See the used equipment financing page for more detail on how we approach used assets.

Mining and aggregate companies often have complex financial structures: multiple pit entities, royalty obligations, mineral lease payments, and equipment leaseback arrangements that affect the balance sheet presentation. We work with that complexity rather than demanding a simplified picture that does not reflect how the business actually operates.

Documentation at the core is the same: three months of business bank statements for the primary operating entity, equipment details, and an application. For larger transactions above $400,000, we want financial statements. For fleet-level transactions, we may ask for a comprehensive equipment list with estimated values and payoffs.

Operators who want to explore how standard equipment refinancing compares to a structured debt consolidation approach for a fleet with multiple outstanding loans will find both paths available through us.

These are the underwriting points the desk uses to turn the taxonomy page content into a real cash-out structure.