Equipment Refinancing in Canada

By leveraging the equity in your existing equipment, you can secure better loan terms, reduce monthly payments, or access additional working capital.

Get In Touch

What is equipment refinancing?

Equipment refinancing involves replacing your current equipment loan with a new one, often with more favourable terms. This process uses the equipment you already own as collateral, potentially unlocking lower interest rates and better loan conditions. It’s an excellent strategy for businesses looking to improve cash flow, invest in growth, or adjust to changing financial circumstances.

What is the process for refinancing equipment?

  • Assessment of Current Equipment Value: We start by evaluating the current market value of your equipment to determine how much capital you can access.

  • Review of Financial Standing: Our team reviews your business’s financial health, including credit history and current loan terms, to identify refinancing opportunities.

  • Application Submission: We guide you through the application process, ensuring all necessary documentation is complete and accurate.

  • Loan Matching and Approval: Leveraging our network of lenders, we find the best refinancing options for your situation and assist in securing approval.

  • Closing the Deal: Once approved, we finalize the new loan terms, ensuring they align with your business goals. 

What are the benefits of equipment refinancing?

  • Improved Cash Flow: Lower monthly payments can free up cash for other operational needs.
  • Access to Additional Capital: Refinancing can provide extra funds for business expansion or other investments.
  • Better Loan Terms: Take advantage of lower interest rates and more favorable repayment terms.
  • Financial Flexibility: Adapt more easily to changes in your business or market conditions.

How to Get Started

  • Contact Us: Reach out to our team for an initial consultation.
  • Provide Equipment Details: Share information about the equipment you wish to refinance.
  • Financial Documentation: Prepare your financial statements and current loan details for review.
  • Application Process: We’ll guide you through each step, from application to approval.
Contact Us
man working, smiling at laptop

Equipment Refinancing Benefits

Lower Interest Rates

One of the most significant benefits of refinancing is the potential to secure a lower interest rate. This can lead to substantial savings over the life of the loan. Lower interest rates mean reduced monthly payments, freeing up cash that can be reinvested into the business, used to pay down debt faster, or allocated to other operational needs.

Improved Cash Flow

Refinancing can lead to better cash flow management. By extending the loan's term or lowering monthly payments, businesses can have more available cash on hand. This improved liquidity is crucial for day-to-day operations, helps in managing unexpected expenses, and provides more financial flexibility to invest in growth opportunities.

Access to Additional Capital

Refinancing can also provide access to additional funds. By tapping into the equity built up in your assets, you can secure extra capital without the need for a separate loan. This additional funding can be pivotal for businesses looking to expand, invest in new technology, increase working capital, or even consolidate other debts under more favorable terms.

Equipment Refinancing FAQ