Harry Fry & Associates saw a strong finish to 2025, although the first quarter of 2026 presented several challenges across the crane and heavy equipment industry. Weather anomalies, including frigid temperatures in the Southeast and significant snowfall across much of the country, created operational disruptions. In addition, the onset of the conflict involving Iran contributed to rising fuel costs.

Tariffs also continue to create uncertainty among dealers, manufacturers, and customers, contributing to supply chain constraints and limited equipment availability. Despite these challenges, customers remain cautiously optimistic. Many contractors report having strong project backlogs, but cite two primary obstacles: limited equipment availability and an ongoing labor shortage.

Customers we have spoken with noted they could take on additional work if they had access to more skilled labor. At the same time, many remain willing to absorb the increased costs associated with new equipment purchases.

During Q1 2026, Harry Fry & Associates funded approximately $13 million in transactions, which is slightly lower than our normal Q1 averages. Approximately 43% of the units financed were new equipment, while 57% were used equipment. Transactions ranged from approximately $70,000 for trailers to nearly $5 million for a Liebherr LTM 1750.

Harry Announced as President of SC&RA

For more than thirty years, Harry Fry & Associates has worked alongside crane and specialized transportation companies across North America, helping customers finance equipment, navigate growth, and weather industry cycles.

At the SC&RA Annual Conference in Amelia Island this past April, company founder Harry W. Fry Jr. accepted the gavel and officially became President of the Specialized Carriers & Rigging Association (SC&RA).

Harry began his finance career with GM Financial and Mercedes-Benz Financial Services before establishing Harry Fry & Associates in 1995, traveling coast to coast to meet with customers and dealers. One year later, his wife Cheryl joined the business, managing office operations while Harry traveled. Their daughter, Tonya, joined the company in 2004, helping establish the firm as a multi-generational family business.

Since its founding, Harry Fry & Associates has surpassed $1.7 billion in fundings, providing financing solutions to companies ranging from owner-operators to publicly traded corporations. The company remains focused on its niche within crane and heavy equipment financing, including all types of cranes, concrete pumps, trucks, trailers, and tree service equipment.

So, What Do We See Going Forward?

One of the questions we are most frequently asked is what the Federal Reserve will do with interest rates moving forward.

Following the appointment of new Federal Reserve Chairman Kevin Warsh on May 22, we anticipate interest rates will remain relatively steady in the near term as the Fed continues to take a “wait-and-see” approach toward inflation trends and overall economic conditions.

Elevated oil prices have raised concerns about renewed inflationary pressure. However, recent inflation data has remained relatively benign. In addition, the labor market continues to demonstrate resilience, with recent job growth exceeding expectations and unemployment remaining historically low.

From a crane and heavy equipment perspective, stable interest rates would provide support for equipment financing and capital investment decisions. That said, customers remain cautious due to tariffs, project timing concerns, ongoing labor shortages, and continued uncertainty surrounding equipment availability.