Heavy equipment loans are not as difficult to qualify for as some other forms of financing, like a traditional term loan from a bank. If you have been in business for several years and have a credit score of 620 or above, you have great chances of qualifying. The higher your credit score and the longer you’ve been in business, the higher the probability that you will qualify and get a favorable rate and term. If your business is very new, you might still qualify for heavy equipment financing if you have a higher credit score.