Caterpillar Equipment Purchase & Financing in Prince Edward Island

Caterpillar Equipment is Essential for PEI Farms

Prince Edward Island might be the smallest province in Canada, but it has a robust farming industry. Prince Edward Island’s main crops include potatoes, with 86,000 acres of land devoted to potato production in 2018, according to the PEI government. PEI has production in grains, oilseeds, fruits, vegetables, and livestock that includes beef, dairy, hogs, and poultry. There are approximately 125 farms on the Island. Island farmers require Caterpillar excavators and Caterpillar loaders to remove and move materials around the farm, including feed, snow, sand, and soil. For these tough jobs, it’s Cat equipment that remains a top choice for these rugged Island agricultural businesses.

Construction on Prince Edward Island Requires Caterpillar Equipment

After some very busy years, construction on Prince Edward Island levelled off at a more manageable pace. Residential and non-residential construction have both been prominent on the Island in the last five years. The Island has worked hard to recruit skilled tradespeople to fill the need in this busy industry.

During this push to fulfill construction demand, increasing access to heavy-duty Caterpillar equipment can help companies improve their bottom line. Construction sites require a diverse group of equipment including Caterpillar excavators, loaders, pavers, shovels, and bulldozers. For smaller projects, Caterpillar backhoes are ideal for simple excavations and skid-steer loaders enable construction projects in tight spaces.

Other industries in PEI also require heavy equipment. For instance, the forest industry relies on Caterpillar’s forest machines. The aquaculture and fisheries industry benefits from Caterpillar’s marine power systems. According to PEI’s provincial website, ” In the past 30 years, the sector has grown from a small developmental industry with a landed value of less than $5 million to an industry under full commercial production and a landed value $44 million (2014). ”  All off-road industries in Prince Edward Island rely on adaptable vehicles such as utility vehicles that enable businesses to haul materials over rugged terrain.

Commonly Asked Questions About Caterpillar Equipment in Prince Edward Island:

How Much Does Caterpillar Equipment Cost in PEI?

The cost of Caterpillar equipment depends on a number of factors, including whether you buy new or used, any sales or offers from the dealer, and whether you purchase a base model or add onto that model. For instance, a small or medium-sized excavator generally costs over $100,000 and up to nearly $300,000.

Can My Business Finance Caterpillar Equipment in Prince Edward Island?

Yes, it’s definitely possible to finance Caterpillar equipment. You can do so by talking with your bank or credit union, contacting the dealership, or seeking out an online loan provider.

If you’re looking for loans for Caterpillar equipment or Caterpillar dealers in Prince Edward Island, you’ve come to the right place. Connect with us at Smarter Loans to find the resources that you need to grow your business.