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Repair or replacement of the old equipment, can create a serious burden on your business cash flow. However, there is a number of financing options available on the market that can help you cover your immediate equipment repair expenses.
At Smarter Loans, we connect you with a plethora of equipment repair and upgrade loan lenders, offering the most affordable rates and loan terms. We’ve successfully helped countless other businesses acquire the financing they need to repair or upgrade their equipment. View the table below to access top Canadian loan lenders and select the best financing option for your business needs.
Once you are ready to proceed in applying to one of these equipment repair loan providers, click “Apply Now” beside their name. Alternatively, if you feel that you do not have ample time to tackle this research, pre-apply with Smarter Loans and we’ll handle the selection for you.
We can help connect you with the top equipment repair financing providers in Canada.
Most equipment repair or upgrade loans require a proportion of the cost of the equipment as a downpayment – typically around the 20% mark. However there are options if your business has no money to put down. You may have to provide a greater level of collateral against the loan, or pay a higher interest rate.
Equipment repair and upgrade loans come in a variety of sizes, and businesses may be eligible for anything from $5000 upwards, depending on financial circumstances and needs. In Canada, equipment repair loans represent the largest proportion of business assets financed by external lenders.