Does drill Financing Group Finance directional drills and rigs?

Often, equipment like drills and drill rigs falls outside of the bank credit window. Unlike banks, we have no age or collateral restrictions. We specialize in heavy machinery and finance lots of directional drills and drill rigs. Drill Financing Group is proud to offer leases and loans with more term options and greater flexibility.

Who is drilling financing group?

At Drill Financing Group, we know the industry, understand boring and drilling needs, and have tailored our loan and lease financing products to fit the unique needs of businesses - whether they want to expand a large commercial fleet or simply replace an aging piece of equipment.

Are drill rigs financed by banks or credit unions?

98% of drill and other heavy machinery transactions are not funded by local banks or credit unions. Bank and credit unions are great resources for credit lines, real property loans, and personal loans - but heavy equipment and machinery is another story. Often, equipment like drills and drill rigs falls outside of the bank credit window.

Who operates a drill rig?

Operator or Driller: A person operating the drill rig. They may also be the driver of the rig if it is a carrier mount.

Should you buy or lease a used drill rig?

Used for mining, exploration, water wells, and more, drill rigs are essential. They are also expensive, making a strong market for pre-owned drill rigs. Financing and leasing used drill rigs thus becomes a must for most companies, as even used pieces can be a significant part of a yearly budget.

What is a drill rig used for?

Drilling rigs have all manner of configurations and uses. One of the more popular is a cable tool drill rig, which is typically used for water well drilling. These machines stand tall, and drill deep for residential water (the drill is used for other applications too, but water is the big one.)