Directional Drill Financing
Directional drill financing spreads the cost of an HDD rig, and often the rod, tooling and support equipment around it, over time: a third-party lender pays the seller, and your business repays on agreed terms. Ironmark follows up personally and connects you with a financing specialist.
- Small, midsize and large HDD rigs
- Drill rod, bits and reamers
- Mud mixing and fluid recycling systems
- Locating and guidance systems
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How does directional drill financing work?
Directional drill financing works like most equipment financing. You collect a quote for the rig and any rod, tooling, mud system or locator you are buying with it. A financing specialist reviews your business and the equipment and explains the options, which can include an equipment loan or a lease. If a third-party lender approves the request, it pays the seller and your business makes payments over the agreed term, with the equipment typically serving as collateral.
Many contractors finance so they can put a complete spread in the field without draining cash needed for payroll, fuel and mobilization. Financing can also cover the supporting pieces that are easy to overlook, such as extra rod or a new locator, when they are part of the purchase. Lenders generally treat HDD rigs as working equipment with a resale market and will look at the age and hours of used units. Terms vary by lender and deal, and every request is subject to approval.
A useful quote lists each piece being bought: the rig's year, make, model and hours, the amount of rod included, tooling, the mud system and the locating system. Who is selling the equipment, and whether it is one package or several separate purchases, also matter. Send the details through the Quick Quote and Ironmark will follow up personally and connect you with a third-party financing specialist who handles the application.
What you can finance
New and used units from dealers, auctions and private sellers, depending on the lender.
Small HDD rigs
Compact drills used for fiber, residential service lines and short urban bores.
Midsize and large HDD rigs
Higher-capacity drills used for longer bores, larger pipe and road or water crossings.
Drill rod
Additional or replacement rod bought with a rig or on its own as your bore lengths grow.
Bits, reamers and downhole tooling
Bits, housings, backreamers and pullback tooling matched to the ground conditions you drill.
Mud mixing and fluid recycling systems
Systems that mix drilling fluid and recycle it on site to cut down on fresh water and disposal.
Locating and guidance systems
Walkover locators, transmitters and guidance systems used to steer and track the bore.
Vac excavators for fluid cleanup
Trailer or truck vacuum units that recover drilling fluid and clean up entry and exit pits.
Support trucks and trailers
Rod trucks, mud trucks and equipment trailers used to move the rig and its support gear between jobs.
Businesses we work with
- HDD and boring contractors
- Fiber and telecom installers
- Gas distribution contractors
- Water and sewer contractors
- Electric utility contractors
- Pipeline construction companies
- Underground construction firms
What lenders look at
Every lender has its own criteria. These are the things that commonly shape the options for this equipment.
Time in business and drilling experience
Lenders commonly look at how long the company has operated and the owner's experience running HDD crews. A contractor with years in the field may present differently than a new entrant.
Credit and financial history
Personal and business credit history are typically reviewed. Larger rigs or complete spreads may call for bank statements, tax returns or financial statements.
Rig age, hours and condition
For a used drill, lenders weigh the year, engine hours and overall condition, including the rod loader, carriage and vise. Maintenance records and recent repairs help explain condition.
Seller and purchase structure
Buying a complete spread from one dealer is simpler to document than assembling equipment from several sellers. Private-party and auction purchases may need title or lien checks.
What the package includes
Lenders want an itemized list of the rig, rod count, tooling, mud system and locator. Tooling and consumables may be treated differently from the rig itself, so ask the specialist how the lender handles them.
Financing is provided by third-party lenders, subject to their review and approval. Ironmark is not a lender.
Before you apply
- 1Get the rig's engine hours and the amount and condition of the rod included in writing.
- 2Confirm whether the locator and mud system are part of the sale or priced separately.
- 3Ask for maintenance records on the rod loader, carriage and drive components, not just the engine.
- 4Confirm with the seller that the locator and transmitters included suit the work you plan to do.
- 5If you are buying from several sellers, collect every quote first so the full spread is reviewed together.
Buying guideDirectional drills buying guide and inspection checklistWhat to compare, what to ask the seller and a checklist to take to the lot.Read the guide Directional Drill Financing FAQs
Can you finance a used directional drill?
Yes, used HDD rigs are commonly financed. Lenders tend to focus on the rig's year, hours and condition, along with its maintenance history. Whether a specific drill qualifies depends on the lender and the deal.
Can you lease a directional drill?
Leasing is one of the structures lenders may offer for directional drills and HDD support equipment, alongside equipment loans. Leases differ in their end-of-term options, such as returning the equipment or buying it, so compare the total cost and what happens when the term ends. Your accountant can explain how each structure affects your taxes.
Can drill rod and tooling be financed with the rig?
Rod, bits, reamers and other tooling on the same quote can often be included with the rig. Some lenders treat tooling and consumables differently than the drill itself, so list everything on your quote and the specialist can explain how it will be reviewed.
Can you finance a directional drill with bad credit?
Some lenders work with owners whose credit is less than perfect, but there is no guarantee of approval. Lenders weigh credit together with time in business, cash flow, industry experience and the drill itself, and requirements vary by lender. Your drilling experience and the work you have lined up are worth sharing with the specialist.
Does Ironmark provide the financing?
No. Ironmark helps you get a quote, follows up personally and connects you with a financing specialist. Financing is provided by third-party lenders, subject to their review and approval.
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