Equipment financing for Quebec businesses

Equipment financing lets you acquire the machinery, vehicles, tools or computer equipment your business needs without paying the full price up front. You keep your cash available for day-to-day operations.

In many cases, the financed equipment itself serves as collateral, which can make the lender's review of your application easier.

How does equipment financing work?

Financing usually takes the form of a loan or a lease. With a loan, you own the equipment and repay it in instalments. With a lease, you pay to use it for a set period, often with a purchase option at the end.

The lender considers the type of equipment, its value, its useful life and your business profile. New or used, bought from a dealer or a private seller: options vary from one lender to another.

Common uses

• Buying a truck, trailer or service vehicle
• Acquiring production or construction machinery
• Equipping a restaurant kitchen
• Upgrading computer equipment
• Replacing outdated equipment to improve productivity

Who is equipment financing for?

Equipment financing is designed for construction, transportation, manufacturing, restaurant and healthcare businesses, and for any SME whose operations depend on costly equipment.

Eligibility criteria

To apply through Prêt Rapide, your business must meet the following criteria:

• At least 6 months in business
• At least $10,000 in monthly revenue
• Business registered in Canada (incorporated, partnership or sole proprietorship: all structures accepted)

Applying with Prêt Rapide

• Amounts from $10,000 to $1,000,000
• No impact on your credit score when you apply
• Free service for your business
• Response within 24 hours

Frequently asked questions

Other financing solutions