How to get equipment financing in Canada

Most Canadian small businesses finance equipment with a lease to own agreement. Bring a vendor quote or invoice, three to six months of business bank statements, and government ID.

Clean files can fund in 24 to 72 hours. Other choices are a secured term loan, a sale leaseback if you already own the asset, or an operating lease if you want flexibility. Lenders look at time in business, owner credit, banking history, the asset, and any CRA issues.

Terms are usually 24 to 60 months with a personal guarantee and a PPSA registration, and a 10 to 30 percent down payment helps. Keep banking clean and show contracts or backlog.

Approval with weaker credit is possible but may cost more.