Equipment Leasing in Canada
Equipment Finance Canada is the equipment leasing partner Canadian businesses use to get the equipment they need without paying for it all upfront. Tell us what you need and we shop our network of banks, financial institutions, and private lenders, secure competitive lease terms on your behalf, and get you approved, usually within 24 hours, with up to 100% financing. New or used, one machine or a whole fleet, we handle the paperwork and the negotiations so your working capital stays free.
How it works
Our 3-step process
We make securing your equipment a hassle-free process. Just follow these three easy steps.
Apply Online
It takes less than five minutes to fill in our application form. Share your equipment requirements and details online from any device.
Get Approved Within 24 Hours
Our team will review your application and work with our network of trusted Canadian lenders to find the best financing options, including seasonal and skip-payment structures that match your revenue cycles.
Receive Your Equipment Fast
Once approved, all you need to do is collect your equipment and continue growing. Our team will handle the rest.
Spread the cost of high-ticket equipment
Equipment leasing eases the strain of buying outright. You preserve cash flow and working capital, keep your bank line of credit free, and spread the sales tax over the term instead of paying it upfront, with up to 100% financing and little or nothing down. In most cases, lease payments are tax-deductible as a business expense, and many businesses also claim capital cost allowance (CCA) on equipment they will eventually own, so ask your accountant how leasing fits your tax picture.
A simplified equipment leasing process
Between the jargon and the sheer number of options, leasing can make your head spin. At Equipment Finance Canada, we simplify it by managing every application, all the paperwork, and the lender negotiations on your behalf.
Access to Canada’s Leading Lenders
Trusted. Vetted. Secure.
Get access to our wide network of leading banks, financial institutions, and private lenders across Canada. Our team of experts connects you to the best rates available, including equipment loans, refinancing options, and lease-to-own solutions, so you can get back to doing what you do best.
Find the best financing option for your business
Discover a range of financing options for new and used equipment. We work with you to find the right tailored solution for you.
Experts Guide You Through the Process
Our agents submit your application on your behalf, ensuring all the I’s are dotted and the T’s are crossed. Our team of Canadian experts is on hand throughout the process to offer guidance and support.
Fast Credit Decisions Within 24 Hours
There’s no waiting around when you apply for equipment financing through EFC. We work directly with Canadian lenders to obtain credit decisions within 24 hours and notify you as soon as a decision has been made.
Work With Trusted Equipment Financing Experts
Our mission is to make accessing equipment financing easy, quick, and stress-free. With years of experience working across construction equipment financing, agriculture equipment financing, transportation equipment financing, and medical equipment financing, our team delivers solutions tailored to your industry.
91% Approval Rate Across Canada
of submitted applications approved
24-Hour Approval Process
turnaround for approvals upon submission
Apply today for 24-hour approval
Skip the queues with Canada’s most trusted site for equipment finance.
Apply Now
Frequently Asked Questions (FAQs)
We answer your most pressing questions about equipment financing.
Businesses of all sizes, including startups, small businesses, and large enterprises can benefit from acquiring expensive equipment without tying up significant capital.
The contractual agreement offers several key benefits, including lower upfront costs, regular payments, and flexibility in terms. It’s especially useful for acquiring equipment quickly and ensuring businesses can access the latest technology or machinery needed to keep growing.
The lessor owns the equipment throughout the term. The lessee may use the equipment under agreed terms, with the option to purchase it at the end of the lease if specified in the agreement. This structure ensures businesses can evaluate the overall value of leasing without the full responsibility of ownership.
The process involves selecting the asset, submitting an application, undergoing credit approval, and signing the lease agreement. Depending on the type—such as operating or capital—the terms and conditions will vary. Once finalized, delivery is arranged, and monthly payments commence as per the agreement.
Not all leases require a down payment. In some cases, businesses can qualify for short-term or long-term leases without upfront costs. The lender evaluates the lessee’s creditworthiness to determine the standard terms, including any initial payment requirements.
Lease payments depend on factors such as the total cost, the type of lease, the lease term, interest rates, and the lessee’s creditworthiness. Payments are typically structured as monthly installments, allowing businesses to manage cash flow effectively.
Yes, most agreements include an option to purchase at the end of the term. This option may involve a nominal buyout or a pre-determined amount. Businesses can evaluate whether purchasing aligns with their long-term goals and total cost considerations.
Lenders assess a lessee’s financial statements, credit history, business revenue, and the assett being leased. These factors impact the terms and conditions of the lease, helping both parties make informed decisions.
Taxes like Goods and Services Tax (GST), Harmonized Sales Tax (HST), and Provincial Sales Tax (PST) are typically added to the monthly payments. The lessee is responsible for paying these taxes unless the equipment or business qualifies for exemptions.
Leasing can provide tax benefits, such as the ability to deduct lease payments as a business expense. If you choose an equipment loan, you may also deduct Capital Cost Allowance (CCA) and interest. Always consult your tax advisor for details.
As the lessee, you are generally responsible for maintenance and service during the term. Leases often include warranties that cover standard repairs or defects, but it’s essential to understand the performance expectations and your responsibility as outlined in the agreement.
