Equipment Financing in Canada

Finding the right equipment can be a challenge. That's why we offer streamlined equipment financing services to save you time and money, and get you the resources you need to fuel your business faster. We help your business acquire equipment from any vendor across Canada.

See eligible equipment

Borrow from $10,000

Rates as low as 4.99%

Terms up to 84 months

Funds within 48 hours

What qualifies for equipment financing?

Equipment financing is designed to cover a broad range of tangible assets that your business may need to operate and grow. This can include, but is not limited to:

Office Equipment: Computers, printers, copiers, phone systems, and furniture.
Manufacturing Machinery: CNC machines, assembly lines, packaging machines, and other manufacturing tools.
Construction Equipment: Excavators, bulldozers, cranes, loaders, and other heavy machinery.
Medical Equipment: Diagnostic machines, patient monitors, surgical instruments, and other healthcare-related tools.
Restaurant and Kitchen Equipment: Ovens, stoves, refrigerators, freezers, and food processors.
Agricultural Machinery: Tractors, plows, harvester machines, and irrigation systems.
Technology and Software: Software licenses, IT infrastructure, servers, and cybersecurity tools.
Vehicles: Trucks, vans, cars, and trailers used for business operations.

The eligibility for financing these items typically depends on the lender’s policies, the financial health of your business, and the intended use of the equipment. Financing helps businesses acquire the necessary equipment without paying the full cost upfront, thus preserving cash flow and enabling more strategic financial management.

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Why equipment financing?

Choosing to finance equipment lets you spread out the cost over time, making it easier to handle big purchases without draining your funds. This way, you can keep money available for other important parts of your business, like growing or adding new products. You can also work out a payment plan that fits your budget, making it flexible. In short, financing helps you get the equipment you need to stay ahead, without stressing about the price tag.

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Equipment Financing Benefits

Tax Benefits

Each payment in most equipment financing plans includes interest. The interest portion of these payments can typically be written off as tax-deductible. This offers a fiscal benefit when you file your taxes.

Stay Ahead Of The Competition

Ensure your business operates at peak efficiency and meets growing demands by investing in the latest and most effective tools.

Preserve Working Capital

Avoid straining your cash flow by not paying for equipment all at once. Financing allows you to spread the cost over the equipment's life, making it more manageable and helping you keep cash on hand for other business needs.

How Equipment Financing Works

Apply for Financing: Start by applying for your loan with us.
Utilize Equipment: We pay the vendor directly, so all you have to do is pick up your equipment and start utilizing it.
Repay in Installments: Make fixed payments according to your repayment schedule.
Gain Ownership: After fully repaying the loan, the equipment is all yours.

5 Minute Application

Equipment Financing FAQ

Can I finance the full cost of the equipment?
Yes, you can usually finance up to 100% of the equipment’s value. However, the exact amount might change based on the equipment’s type and condition, the lender’s policies, and how your business qualifies for the loan.
Who can apply for equipment financing?
All registered businesses in Canada, from small to medium enterprises, are welcome to apply. While eligibility criteria may differ among lenders, we’re here to help find the perfect match for your unique needs. Get started today, and let us connect you with the ideal lender to support your business goals.
How long does it take to get approved?
Approval times can vary, but we aim to get your application processed within 48 hours. Many of our lenders offer quick decision-making processes, sometimes within a few business days.
What are the typical terms for equipment financing?
Loan terms can range from 12 to 84 months, depending on the type of equipment and the agreement with the lender.
Can I finance used equipment?
Yes, our lenders offer financing options for both new and used equipment. Whether you’re looking to acquire the latest technology or find cost-effective alternatives with pre-owned machinery, we have leasing options designed to support your specific operational requirements and financial constraints.
Is the equipment itself used as collateral for the loan?
In most cases, the equipment being financed acts as collateral for the loan. This means that the lender uses the value of the equipment as a form of security against the loan amount. If, for any reason, the business fails to make the agreed-upon payments, the lender has the right to seize the equipment to recover the outstanding loan balance. This setup reduces the risk for the lender and often enables more favourable loan terms for the borrower.
Are there tax benefits to equipment financing?
Yes, in many cases, the interest paid on the loan can be tax-deductible. Additionally, leasing payments may also offer tax advantages.
Can I pay off the loan early?
This depends on the lender’s policy. Some lenders allow early payoff without penalties, while others may have terms regarding early repayment. Please review your financing contract for more details.
How do I start the application process for equipment financing?
You can start by contacting us directly through our online application portal or by phone. If you have any questions, reach out via our contact form. Our team will guide you through the application process.