If you’re planning to finance a boom truck for your business, getting organized before you apply can save you time, stress, and even money. Whether you’re growing your fleet or just launching your business, having the right documents and information ready helps lenders make a faster, more accurate decision.
This Boom Truck Loan Checklist will walk you through exactly what you need to prepare. We'll explain why each item matters and share common mistakes to avoid. Even if you're a startup or have less-than-perfect credit, this guide can help.
A boom truck is a commercial vehicle with a hydraulic crane mounted on it, commonly used in construction, utilities, tree services, roofing, and more. Because they’re expensive and specialized, most businesses choose to finance rather than buy outright.
Boom truck loans help you spread out the payments over time, keeping your cash flow in check while giving your business the equipment it needs to grow. Learn more about Boom Truck Financing and how it can support your business growth.
Applying for commercial equipment financing is different from a personal loan. Lenders are looking at more than just your credit—they want to understand your business, your plan, and how the equipment fits your operation.
Having your paperwork and answers ready can:
Now, let’s go step-by-step through the Boom Truck Loan Checklist.
Lenders want to know who they’re working with. Be ready to provide:
🔍 Startups can still qualify, but lenders may ask extra questions—or look more closely at your experience or business plan.
Because boom truck loans often involve large amounts, lenders will also look at the owner or operator:
💡 If more than one person owns the business, each may be asked to submit personal details.
Be prepared to explain what boom truck you’re purchasing and why it’s needed:
Having this information helps lenders understand the value and use of the equipment.
🛠️ Tip: If the boom truck is custom-built or highly specialized, include brochures or drawings that show how it will be used.
Even if your credit isn’t perfect, solid financials can help show you’re a good candidate for financing.
Depending on how long you’ve been in business, you may be asked for:
Tip: Don't wait for the lender to ask—having these documents ready helps keep things moving.
Your credit doesn’t need to be perfect, but it is a factor in how lenders make decisions.
Lenders may check:
If you’re concerned about low credit, be transparent. Many lenders work with borrowers who have credit challenges, especially if you have strong business revenues or a solid down payment.
Things that can help offset low credit: revenue history, industry experience, contracts in hand, or co-signers.
If your business is new or has limited financial history, lenders will often ask for a simple business plan or summary.
This doesn’t need to be fancy, but it should show:
If you already have job contracts waiting or a history of working in the industry, include that—it helps show the loan makes business sense.
Before funds are released, lenders usually require that the boom truck is insured. While you might not need this at the start of your application, it’s good to plan for:
Boom trucks sometimes need special coverage due to their crane equipment—check with an agent who understands commercial vehicles.
Some lenders offer 0% down or minimal down programs, but in many cases, you’ll need to have some cash ready:
Ask what options are available—even limited cash upfront doesn’t always disqualify you.
Depending on your situation, the lender may ask for more:
Every application is different, so the more prepared you are, the easier the process will be.
To wrap up, here are a few issues that often slow down approval—or lead to denials:
Tip: Keep original copies and PDFs organized in a single folder (physical or digital) so you can access them quickly.
Applying for a boom truck loan doesn’t have to be stressful. With the right preparation—and the documents outlined in this Boom Truck Loan Checklist—you’ll stand a much better chance of getting approved, even if you’re just starting out or have credit concerns.
Financing a boom truck can be a big step forward for your business. By getting everything in order ahead of time, you can focus on what really matters—getting to work.
