Equipment & machinery
Production lines, CNC and fabrication, commercial kitchens, medical and dental, agricultural machinery, printing and packaging. The asset secures the loan.
Some lenders finance up to 100% of invoice
Home/Commercial Loans
$25,000 – $200,000
Capital for the things that keep earning after you've paid for them.
Equipment, fleet, leasehold improvements, a property deposit, an expansion into the unit next door. When there is an asset behind the borrowing, lenders may offer a lower rate and a longer term, so we look for that structure where it fits.
Where it goes
Money against something real.
Commercial lending is priced on the asset as much as the operator. That is why a secured equipment loan can sometimes cost less than a smaller unsecured one.
Fleet & vehicles
Trucks, trailers, vans, service vehicles and heavy haul. New or used, dealer or private sale, single unit or a batch of eight.
$25,000 – $200,000
Leasehold improvements
Fit-outs, build-outs, HVAC, electrical upgrades, accessibility work and the several months of rent you pay before the doors open.
$25,000 – $200,000
Commercial property costs
Deposits, closing costs, bridging between a purchase and a mortgage completion, and the renovation a lender won't roll into the mortgage.
Some lenders consider second position
Expansion & acquisition
A second location, buying out a partner, acquiring a competitor's book of business, or franchise fees and initial inventory.
12–60 month terms
Invoice factoring
Receivables on 30, 60 or 90 day terms converted to cash sooner. Approval often weighs your customers' credit as well as your own.
Advance rates vary, often up to 90%
84 moLongest terms some lenders offer on asset-backed loans
100%Of invoice value some lenders finance on qualifying equipment
2 yrsPreferred trading history for commercial products
Used OKMany lenders consider second-hand assets with a valuation
Why it's structured differently
An asset changes the arithmetic.
Unsecured working capital is priced for the risk that there is nothing to recover. Put a $140,000 press or a fleet of trucks behind the same borrowing and the lender's risk drops. That can mean a lower rate and a term closer to the useful life of the asset. The final rate and term are set by the lender.
- Terms that can be matched to the asset's working life
- Seasonal and deferred-start schedules from some lenders
- Private-sale purchases considered, not just dealer invoices
- Sale-and-leaseback options on equipment you already own
Documents
What a commercial file looks like.
At application
Amount, purpose, business details and a description of the asset. Nothing to upload. About ten minutes, and enough for us to know which lenders to approach.
At offer
Six to twelve months of business bank statements, the equipment quote or purchase agreement, and your most recent financial statements or T2 where the amount warrants it.
At funding
Signed agreement, void cheque, proof of insurance on the asset, and a valuation on used equipment. Funds go to you or directly to the vendor, whichever you prefer.
Commercial questions
The ones we get most.
Can you finance used equipment?
Often, yes. Many lenders finance used assets against an independent valuation, usually
at a lower advance rate and shorter term than new. Age, hours and resale market all
factor in. Many lenders also consider private-party purchases.
Can I get a mortgage on commercial real estate?
Not through us. First mortgages are outside our network. Lenders we work with may finance
costs around a property transaction: deposits, closing costs, renovations, and
short-term bridging while a mortgage completes, within the $25,000 to $200,000 range.
How long does a commercial file take?
We aim to contact you within 24 hours, and lenders can often decide within 24 hours of
a complete file. If a lender approves and you accept, funds typically arrive within 48
hours of approval, though this is not guaranteed. Files that need a valuation on used equipment can take a few days longer.
Can the funds be paid straight to the vendor?
Usually, yes, and on equipment purchases many lenders prefer it. The lender pays the
supplier directly from the invoice, and the asset is delivered to you.