Cash-Out Refinance on Scissor Lifts

Use the equity in your scissor lift fleet to access working capital. We fund cash-out refinances on existing owned equipment from $50k.

Equity sitting in a paid-down scissor lift fleet is working capital you have not collected yet. A cash-out refinance pulls that equity out as cash while leaving the equipment in your control, replacing your existing loan (or adding a first lien if the units are owned free-and-clear) with a new note sized above the payoff balance. The difference between the new loan amount and the old payoff lands in your account. We structure cash-out refinances on scissor lift portfolios from $50,000 in total loan value, covering both single-unit equity pulls and multi-unit fleet transactions.

This is a different transaction from a sale-leaseback, where you sell the equipment and rent it back. In a cash-out refi, you retain title throughout. The equipment stays on your asset register; only the lien changes. That distinction matters for operators who want to own the iron outright again once the new loan is paid down, or who have lease-use restrictions in their current leaseback that a refinance would avoid.

How the Cash-Out Structure Works

The mechanics are straightforward. We appraise the equipment at current market value. The advance rate on the appraisal determines the maximum new loan amount. If the equipment appraises at $200,000 and we advance 80% of that, the new loan is $160,000. If the existing payoff on your current note is $90,000, the net cash to you is $70,000, and you carry a new $160,000 loan on the equipment at the new rate and term.

On units owned free-and-clear with no existing lien, the full advance amount (subject to the appraisal-based maximum) goes directly to you. There is no payoff calculation because there is no existing debt to retire. You are simply borrowing against the equipment's value and receiving the proceeds as working capital.

The new loan is secured by the equipment, just like an original purchase loan. We file a UCC-1 lien, and you make fixed monthly payments over the agreed term. The total monthly obligation may be higher than your previous payment if you were partially paid down on the old note, or it may be comparable if the old payment was already structured at a high balance.

When a Cash-Out Refi Makes Sense

Three business situations drive most of the cash-out refinancing we see on scissor lift fleets. First, capital for a new contract: a general contractor or interior finish contractor who has won a large new project and needs mobilization cash, bonding, or material deposits can pull equity from the lift fleet rather than diluting equity or chasing a business line of credit.

Second, fleet expansion: using the equity in a mature, productive fleet to fund the purchase of additional units. This is essentially a bootstrap play, where the older paid-down iron funds the acquisition of newer or additional equipment without requiring out-of-pocket capital. The result is a larger fleet financed by the fleet itself.

Third, general working capital: covering payroll through a slow period, funding a company move, or bridging an accounts-receivable gap while a large invoice clears. Equipment equity is often more accessible and faster to deploy than a bank line of credit, particularly for operators with B or C credit profiles that a traditional bank would decline.

For facilities maintenance operators who have owned the same scissor lift fleet for several years, a cash-out refi on fully paid-down slab electrics is a clean way to fund a fleet upgrade while keeping the current units running until the replacement cycle is complete.

What Qualifies as Collateral

The same equipment profile that makes a strong lease or loan collateral makes a strong cash-out refi collateral: late-model, well-maintained units from recognized manufacturers with clear secondary-market demand. A fleet of electric slab scissor lifts from the last five to seven years with a documented maintenance history is ideal. These units have predictable market values that we can advance against confidently.

Older equipment or units with significant hours will qualify at lower advance rates or shorter terms, reflecting the narrower margin between advance and residual market value. The advance rate is a function of how confidently we can resell the equipment if the loan goes sideways, so equipment with strong secondary demand supports higher advances.

One practical note: cash-out refinancing works best when there is meaningful equity to pull. If the existing loan balance is already close to the equipment's market value, a cash-out refi will produce minimal net proceeds after the payoff. We will run the math for you before you commit so you know the net cash figure upfront.

Comparing Cash-Out to Other Equity-Access Structures

Cash-out refinancing, sale-leaseback, and straight refinancing all involve existing equipment as collateral, but they serve different goals. A straight refi lowers your payment without producing cash. A cash-out refi produces cash but maintains ownership and adds debt. A sale-leaseback produces cash, transfers title, and replaces a loan payment with a lease payment.

The cash-out refi is usually the right choice when ownership retention matters and the equity available is meaningful enough to justify the additional debt. The leaseback is usually right when you want maximum liquidity or prefer the balance-sheet treatment of a lease. Neither is universally superior; the choice depends on the deal size, the equipment profile, and your capital priorities.

If you are comparing these options, we can model both for the same equipment inventory so you can see the net cash and monthly obligation side-by-side.

Find Out How Much Equity Your Fleet Carries

Send us the unit list and current payoff balance if applicable. We will come back with an advance estimate and net cash figure within a day. No commitment required to get the numbers, and Most completed files close after seller documents are ready once you decide to move forward.

Questions operators ask

Clear answers before the lift moves.

Open a question for the practical details on equipment, documents, timing, and structure.

Can I do a cash-out refinance on units I already own outright with no existing loan?

Yes. Free-and-clear equipment is the cleanest scenario. The full advance (based on current market value and advance rate) goes directly to you with no payoff deducted. We file a new lien on the equipment and you make monthly payments on the new note.

How is the advance amount determined?

We appraise the equipment at current market value based on make, model, year, and hours, then apply an advance rate to that value. The advance rate varies by equipment type, age, and credit profile. We will tell you the appraised value and the advance rate so the math is transparent.

Does the equipment have to stay in the same location during the term of the refinance?

No, but we require notice of any significant change in location or use. Equipment securing a loan needs to remain accessible for inspection and, in a default scenario, recovery. For fleet operators who move units between job sites, this is not a practical restriction.

Can I refinance a mixed fleet with both scissor lifts and other equipment types?

We focus on scissor lifts and aerial work platforms. If the fleet is mixed, we can structure the scissor lift portion under our program while you arrange separate financing for other equipment types.

How long does a cash-out refinance take?

From application to funded: typically one to two weeks. The timeline is driven by appraisal turnaround, payoff quotes from current lenders if applicable, and document signing. Deals with clean collateral and straightforward credit move faster.