Toronto equipment leasing options are readily available for businesses in Toronto, the Greater Toronto Area, and Southern Ontario.
This region is blessed with a large number of both national and regional equipment leasing companies, most of whom have a preference to provide equipment lease financing in Ontario due to the close proximity to their headquarters.
Having several potential options can have both its pluses and minuses.
For instance, sometimes it can be hard to find the lowest cost form of Toronto equipment leasing, resulting in business owners paying higher effective rates that other potential options.
On the minus side, many of the Ontario equipment leasing companies that service the Toronto and surrounding area only work through equipment leasing brokers.
This is in itself is only an issue or problem if you are trying to arrange equipment leasing on you’re on.
Working with an experienced equipment leasing broker or specialist can help you quickly zero in on your best overall options, regardless if they are broker specific or not.
Many leasing companies will have a certain focus in the market, such as certain industry and asset types, credit profiles, and so on.
Knowing which Toronto equipment leasing companies are going to be best suited to your equipment leasing request and business financing profile is the key to getting the rates and terms you’re looking for.
For equipment lease financing requests under $25,000, approvals can be granted in a matter of hours. For amounts under $100,000 you can still get financing approved in 24 hours. As the amount of equipment lease financing increases, the longer the process will take as higher lease values will have to be reviewed by more than one person at the leasing company. For most applications, regardless of size, the equipment lease financing decision will be made in three to five business days assuming all lender requested information to support the application is readily available.
Once approved, most deals can be funded in a matter of days, so the entire process from time of application to funding is typically no more than a week or five business says.
The standard information we need to start with to assess your request for financing is a completed application form and a copy of an invoice/quote/estimate from the vendor who is prepared to sell you the equipment you are trying to secure.
As equipment leasing specialists, we will then review the information provided and recommend other information items that the lender is likely going to require in order to speed up the application process.
Typically when a business owner or manager calls in, we will go through their situation for Toronto equipment leasing with them on the phone and suggest the best lease financing options available through our equipment leasing company network.