Slatemont Capital Group, a small-business funding broker in Bismarck, North Dakota, offers this excavator financing calculator for contractors. Enter a price, down payment, annual rate and term to see the monthly payment and the total cost including the down payment. It shows arithmetic only; lending partners decide on requests and set every rate and term.
| You enter | Price, down payment, annual rate, term |
|---|---|
| You get | Monthly payment and total cost including the down payment |
| Contractor payrolls in Burleigh County, ND | 390 (CBP 2023) |
| Not shown | Any partner's actual offer or rate |
What to enter
- Price: the quoted price of the excavator, new or used
- Down payment: what you will pay up front
- Rate: an annual rate from a written quote, if you have one
- Term: the number of months you expect to pay
Use figures from a real dealer quote or a partner's written offer. A rate from an advertisement tells you little about what your business would be offered.
Reading the two results
The monthly payment is what leaves your account each month. The total cost adds every payment to the down payment, so it shows what the machine costs you in full. Subtract the price from the total cost and you have the financing cost.
Run the same machine at two terms. The longer term lowers the payment and raises the total cost; the calculator makes the trade-off visible.
Pencil-and-paper extras the tool leaves out
The calculator covers the loan arithmetic only. Add separately anything the quote lists outside the price, such as attachments, delivery or insurance, and decide whether those are financed or paid in cash. It does not model a lease, a balloon payment or a buyout; for those, ask the partner for a full payment schedule.
Why excavators, and why Burleigh County, ND
Construction had 390 employer establishments in Burleigh County in 2023, more than any other sector, and 64.9% of them had fewer than five employees (County Business Patterns 2023). For a small crew, a compact excavator is often the largest single purchase, and the payment has to fit alongside payroll. Contractor financing and equipment financing explain the structures; a term loan may suit a purchase bundled with other costs. More tools and guides are in the resources library.
By Slatemont Capital Group · Updated