Equipment Financing, Leasing and Loans

Equipment Loans in Canada

Equipment loans are useful tools which are specially offered to ensure that businesses can maintain smooth operations. On Smarter Loans you’ll find the best, most reputable equipment financing companies in Canada. We can connect you with the best providers for virtually any kind of equipment you need – from transportation and heavy machinery to medical office equipment financing. Getting the right equipment financing or equipment leasing in Canada is critical to successful business operations. Whether you are looking for heavy machinery equipment, manufacturing, commercial, medical, office or any other type of equipment for your business, you’ve come to the right place.

In Canada, there are many reputable companies that can help you with various types of equipment financing or leasing services. You can negotiate your equipment loan in Canada depending on your type of business, and the type of equipment you are looking for. At Smarter Loans, we’ve done all the research for you, so you can save time in your equipment financing search. Below you will find a list of companies offering equipment financing in Canada. Take a look at the type of equipment they provide, terms and conditions, interest rates and customer reviews in order to help you make a decision. Once you’ve found a company you’d like to contact, click “Apply Now” next to their listing and you’ll be taken to their website and application. Not sure who to go with? No problem! Pre-apply with Smarter Loans and we will connect you with a suitable lender that can help you with your Canada equipment loan.

We can help connect you with the top equipment financing providers in Canada.

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Top Equipment Financing, Leasing and Loans Providers in Canada

Company
Amount
Interest Rate
Reviews
Terms
$50,000 - Unlimited
Varies
Varies
$5,000 And Up
4.9% - 24.99%
18 - 84 Months
$1,000 - $1,000,000
6% - 25%
3 - 24 Months

Equipment Financing, Leasing and Loans – Explained

We rely on tools, machines, and equipment to perform countless tasks and complete a myriad of projects. Whether you’re talking about an enormous construction machine like a bulldozer or something as simple as an office printer, equipment can come in all shapes and sizes and aid us in many different ways, but it can also come with big price tags that aren’t necessarily well-suited to one-time payments.

 

This is why a lot of people, both for business and personal use, choose to take advantage of equipment loans, leasing, and financing plans. By financing or leasing equipment, one can enjoy immediate access to that equipment and start reaping the rewards it has to offer without the need of large one-off payments and long periods of saving. Smarter Loans is designed to make financing and leasing equipment in Canada a lot easier for everyone.

equipment loans

Who Needs Equipment Financing and Leasing in Canada?


Almost every business or company needs at least some equipment to function, and even individuals rely on many different pieces of equipment in their day to day lives, so almost everyone can benefit from equipment loans and leasing, with a lot of different advantages to consider from this kind of financing.

If you’re running any kind of business and want to benefit from high quality equipment, financing and loans can help. With this kind of financial support, you can access top quality machines and items to improve productivity, give your staff more options to perform their roles effectively, and expand the capacities of your business, which can, in turn, raise profits and make your company more efficient in more ways than one.

 

Equipment is a huge part of many industries and types of business like:

  1. Hospitality
  2. Convenience
  3. Fitness
  4. Office work
  5. Agriculture
  6. Construction
  7. Landscaping
  8. Wellness
  9. Forestry
  10. Mining

 

Some examples of equipment you could buy with financing plans include:

  1. Office furniture and equipment like desks and computers
  2. Farming equipment
  3. Vehicles
  4. Catering equipment
  5. Medical equipment
  6. Security items
  7. Landscaping equipment
  8. Fitness machines

 

Having to buy all of these items outright is simply beyond the budget of most individuals and companies, and that’s where the advantages of equipment financing begin to appear; with loans and leasing plans, you can enjoy all the benefits of this kind of equipment without having to cover the big bills and price tags.

Even if you have the capital to invest in equipment outright, making use of leasing and loans can be a smarter option as they allow you to save large amounts of that capital or invest it elsewhere in the business while covering the costs of your equipment in smaller, more manageable monthly chunks.

Choosing Between Equipment Loans and Leasing in Canada

You might be asking yourself questions like should my company be leasing equipment or financing it? What are the pros and cons of leasing and financing equipment? Is financing equipment better than leasing it? There are no definitive answers to these questions as every case is different.

Obviously, the main difference between equipment leasing and equipment financing/loans is that when you lease a piece of equipment, you’re only effectively ‘borrowing’ or ‘renting’ it for a set amount of time, with your monthly payments allowing you to make use of the equipment for the period of your lease, while a financing/loan plan lets you buy equipment and fully own it, but pay off the cost gradually.

 

Pros & Cons of Leasing:

If/when you no longer need that piece of equipment, you can simply end the lease and move on
Allows for more flexibility
Lets you upgrade/replace equipment more easily
No down payments usually needed
No down payments usually needed
You don’t actually own the equipment and cannot resell
Less chance of getting tax breaks
Have to agree to keeping the equipment until the end of the lease period

Pros & Cons of Financing:

You own the equipment and have full liberty to use it as you wish
You can resell the equipment and make some money back on the initial investment
Tax deductions are available on owned equipment
Equipment can be used as collateral in future loans
Equipment may become outdated before you’ve finished paying it off
Can be harder to obtain a loan than a lease if you have bad credit
Down payments need to be considered
Repair costs are on you

How Equipment Loans and Leasing Work in Canada


There are a lot of different options when it comes to finding equipment financing and leasing plans in Canada, and the process can seem quite overwhelming at first, but it’s all about finding the right system to fit your needs.

 

Types of equipment financing include:

  1. Credit-Based – This is the main option for most businesses that have good credit scores.
  2. Cash Flow-Based – If your business doesn’t have a strong credit score, this type of financing will let you access a loan by proving sustainable, steady cash flow.
  3. Collateral-Based – Ideal for those with low credit scores, this involves a large down payment or form of collateral.
Pre-Apply for Equipment Financing Here

How Do I Apply for Equipment Financing, Leasing and Loans in Canada?


There are many different companies providing equipment leasing, financing and loans all over Canada, so if you’re looking for an equipment loan or leasing program in Canada, you’ll have a lot of options available and some big decisions to make.

The process can seem quite complex and overwhelming at first, and it can have some big consequences too. Choosing the right equipment loan provider can save you and your business huge amounts of cash, while making the wrong decision can have disastrous consequences, and that’s why Smarter Loans is here.

Helping to make the process easier in every possible way, the Smarter Loans team does all the hard work for you, offering easy-to-follow comparisons and tables to help you quickly and simply identify the best Canadian equipment leasing providers at a glance.

Instead of letting you spend valuable time searching all around and making calls to multiple loan providers in Canada, noting down all the details and getting multiple quotes to be compared and analyzed over and over again, Smarter Loans takes care of all the behind-the-scenes research and busywork.

So, to sum up, the 7 advantages of working with Smarter Loans to find your next equipment leasing, financing, and loan in Canada include:

  1. Find and work with trusted, reputable companies every time.
  2. Easy to read comparison tables with direct links to provider sites.
  3. No scams, hidden fees, or untrustworthy loan providers.
  4. Find an equipment loan option that works for you and your business.
  5. Make use of the ‘Pre-Apply’ feature to find the ideal equipment leasing or financing plan by spending less than a minute filling in a simple form.
  6. Friendly, experienced, highly trained loan experts waiting to match you with the perfect provider.
  7. Give your credit score a boost by finding a leasing plan that matches your budget or needs.

More Articles About Equipment Loans & Financing:

Types of Equipment Financing, Leasing and Loans offered:

  • Trucks and Trailers Financing and Leasing
  • Bus & Coach Bus Loans and Leasing
  • Equipment Sale and Leaseback
  • Office Equipment Financing
  • Transportation Equipment Financing
  • Oil & Gas Equipment Financing
  • Construction Equipment Financing
  • Airfcraft Financing
  • Heavy Machinery Equipment Financing
  • Train Financing
  • Commercial Equipment Financing
  • Crane & Rig Financing
  • Manufacturing Equipment Financing
  • Medical Equipment Financing
  • Computer Equipment Financing
  • Agricultural & Farm Equipment Financing
  • Printing Equipment Financing
  • Golf Equipment Financing

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