How to Finance Your First Directional Drill (Without Breaking the Bank)
Smart strategies to secure one of the most expensive tools in your fleet
Buying a directional drill isn’t just a purchase-it’s a big step forward for your construction business. But with price tags often ranging from under $100,000 to over $400,000, it’s no small investment. If you’re ready to scale up but need funding to make it happen, here’s what you need to know.
1. Get a Quote Before You Shop Lenders
Most lenders require a formal equipment quote before they’ll review your application. Reach out to a trusted dealer and get pricing on the exact drill model you need. Be sure it includes key attachments, tax, and delivery if applicable.
2. Know What Kind of Financing You’ll Need
A directional drill is a major asset, so most buyers use either:
Equipment financing (secured by the drill itself)
Working capital loan (if using funds more flexibly)
Startup/subprime financing (for new or lower-credit businesses)
Working with a broker like Republic Equipment Capital ensures you’re matched with lenders who fund these exact types of deals-even if your business is just getting started.
3. Be Prepared with These Documents
To speed up approval, you’ll need:
A written quote from the dealer
3–6 months of business bank statements
A copy of your driver’s license
Your business license or EIN
Proof of insurance (or willingness to get it)
Bonus tip: If you already have steady work lined up (contracts or bids), include that info. Lenders love to see future income.
4. Combine Equipment for Better Leverage
Many drill buyers also need:
Hydrovac
Locator
Trailer or mini-excavator
Bundling these into a single financing deal often makes approval easier and can help secure better terms.
Final Word: It’s a Big Move, But a Smart One
Getting your first directional drill can take your business to the next level. With the right financing partner, it’s more accessible than you think.
Need help financing a drill or combo package? Start your application or contact us directly-we’re here to walk you through it.