How to Work With the Best Canadian Leasing Companies in Business Financing and Financial Services?
Mastering equipment finance in Canada for Your Asset Finance Needs
You Are Looking for Business Leasing Companies with The Best Rates, terms and structures for your Financial Services Needs!
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As a business owner, you love informed choices. When you are looking for asset acquisition via equipment financing you need leasing companies and business financial services advice on the best way to achieve financial success - and that requires being informed on equipment leasing.
So what's the scoop on the current equipment finance situation in Canada? Most business owners know that the ability to achieve the business financing you need became extremely difficult over the last couple of years. Leasing companies were affected just like others - in fact, many companies disappeared, were bought up, and most importantly, lost critical sources of their own funding - the bottom line...? They were looking for financing just like you!
The good news. You may have even seen the commercials 'Leasing is back!’. Those commercial refer to auto leasing, we're talking today about fixed asset financing for your Canadian company - and that includes everything from machinery to technology to heavy equipment, software, office equipment, you name it ... Our last transaction was for school buses..!
So, if leasing companies are back, let's just ensure you have a solid understanding of the benefits of lease business financing and, more importantly, who you should be working with.
Asset Financial services via leasing is simple - it's a 'loan' in which your leasing company purchases the equipment for you (or from you.. via an equipment leaseback) and then of course leases it back to you at a monthly rate for a specific period.
Is it appropriate for your firm? Thousands of companies utilize this form of business financing every day, in fact, stats show over 80%! Another great thing about the best leasing companies in Canada is simply their ability to finance any asset for firms of any size, including start-up.
The best Canadian leasing companies tend to differentiate themselves by the customer market they tend to specialize in - In Canada the industry is dominated by captive finance companies (firms which lease only their parent company products and services) as well as segments devoted to small ticket, mid ticket and large ticket asset financing.
We have always felt that the best firms provide quick turnaround on approval that seems to be a key focus for many clients looking for quick approvals for their asset finance needs. So ensure you understand the approval process, which typically is just an application, and, if the size of the transaction requires, your firm’s financial statements which are revived for one purpose - ensuring you have the ability to pay back the lease!
Your best leasing companies in Canada will ensure you understand the cost of financing. That cost is a mystery to many business owners and a frustration to even more. But it's really quite simple, it’s the interest rate inherent in the lease, as well as any purchase options or obligations at the end of the lease, and finally, any miscellaneous costs or administration costs identified in your transaction.
So how do you find the best leasing companies in financial services in Canada? We recommend that you seek the help of a trusted, credible and experienced Canadian business financing advisor in business financial services. That will allow you to get a competitive quote, as well as achieving the best structure for your deal. He or she has solid intimate knowledge of the equipment lease industry in Canada and therefore has the ability to generate savings based on the overall rate, term and structure of your transaction.
leasing companies business financial services
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' Canadian Business Financing With The Intelligent Use Of Experience '
STAN PROKOP
7 Park Avenue Financial/Copyright/2024
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Stan Prokop is the founder of 7 Park Avenue Financial and a recognized expert on Canadian Business Financing. Since 2004 Stan has helped hundreds of small, medium and large organizations achieve the financing they need to survive and grow. He has decades of credit and lending experience working for firms such as Hewlett Packard / Cable & Wireless / Ashland Oil
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