CANADIAN EQUIPMENT LEASE PROGRAM
Program Background
Specialized lease program created to support commercial businesses in Canada to acquire income generating equipment.
Financing Type
Leases available with fixed terms and interest rates based on approved credit (OAC).
Term
Choice of 24, 36, 48 or 60 months, fully amortizing equal monthly payments (OAC).
Funding Features
100% Financing Includes:
- delivery / shipping taxes
- a portion of initial consumables can be funded on the final notice (OAC); all additional consumable requirements to be billed to the customer directly, as needed
Credit Criteria
Eligible applicants with a signed credit application.
Payment Method
Monthly payments in advance via pre-authorized debit.
Approval Timing
Typically four (4) business hours or less upon receipt of a fully completed credit application.
Benefits of Leasing
Capital Conservation - Leasing allows companies to conserve its working capital; allowing it to allocate cash funds for other purposes. With a lease, sales tax and other taxes are not paid up front at the time an asset is acquired; but are remitted with the monthly payments of the lease.
Credit Preservation - Security is on the equipment only - No general security agreement required.
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