The Best Way to Finance Cross-border Purchases in Canada
Traditional financing options often fall short when it comes to cross-border purchases. Luckily, we’re anything but traditional. Apply with Equipment Finance Canada, and we’ll provide an answer within 24 hours.
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How it works
Our 3-step process
We make securing your leaseback a hassle-free process. Just follow these three easy steps.
Apply Online
It takes less than five minutes to fill in our application form. Share your equipment requirements and business details online from any device.
Get Approved
Our team will review your application and work with our network of trusted lenders to find the best financing options for you.
Purchase your equipment
Once approved, you receive your lump sum from the lender and begin your lease on the terms of your agreement.
Simplifying cross-border equipment financing
Don't let borders limit your business's potential. As equipment financing specialists, we understand the complex process of purchasing equipment from the US and abroad and can help secure the right financing for your business.
A solutions for global market
We work directly with Canada’s leading lenders to find financing solutions that accommodate the unique challenges of international equipment acquisition.
Move fast with pre-funding
With pre-funding, you can navigate transactions smoothly and quickly. That means when the right equipment becomes available, you can move fast.
Why purchase across borders?
Secure international equipment with confidence
When your business’s ideal equipment lies beyond the Canadian border, there's no need to tap into your cash reserves. We arrange financing that bridges that gap, helping you secure trucks and trailers or specialty equipment only available across the border.
Apply NowSecure cross-border equipment with leaseback financing
Sales leasebacks offer a simple way to purchase equipment from the US and abroad when pre-funding isn’t an option. Once it’s in Canada, EFC helps leaseback the equipment and free up capital.
Flexible terms
Sell the equipment to a lender at market value and lease it back over a fixed term.
How it works
We work with trusted lenders to negotiate the right terms for your business.
Access to Canada’s Leading Lenders
Trusted. Vetted. Secure.
Get access to our wide network of leading banks, financial institutions, and private lenders across Canada. Our team of experts connects you to the best rates available so you can get back to doing what you do best.
Find the best financing option for your needs
Discover a range of financing options for new and used equipment. We work with you to find the right tailored solution for your business.
Our experts guide the application process
Our leasing agents submit your application on your behalf, ensuring all the I’s are dotted and the T’s are crossed. Our team of experts is on hand throughout the process to offer guidance and support.
You receive a credit decision within a day
There’s no waiting around when you apply for equipment financing through EFC. We work directly with lenders to obtain credit decisions within 24 hours and notify you as soon as a decision has been made.
Work with experienced, knowledgeable, trusted equipment financing experts
Our mission is to make accessing equipment financing easy, quick, and stress-free. With years of experience working with businesses across transportation, agriculture, construction, and other commercial industries, our team is best placed to provide tailored solutions that meet your specific needs.
91%
of submitted applications approved
24-hour
turnaround for approvals upon submission
Apply today for 24-hour approval
Skip the queues with Canada’s most trusted site for equipment finance.
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FAQS
We answer your most pressing questions about equipment financing.
Cross-border equipment financing refers to funding options available for Canadian customers purchasing equipment from the US or other countries. This can include traditional loans, leases, and sale-leaseback arrangements, which help facilitate international transactions by providing financial support for acquiring equipment abroad.
Cross-border equipment financing can be used for various types of equipment, including construction machinery, agricultural tools, manufacturing equipment, and more. Financing options can include traditional loans, leases, or sale-leaseback arrangements for both new and used equipment, depending on the lender and financing terms.
Benefits include access to a wider range of equipment options, potentially better pricing or technology, and efficient management of currency exchange and international transactions. Sale-leaseback arrangements can also offer immediate capital release by selling existing equipment and leasing it back, enhancing cash flow while acquiring new equipment from abroad.
Cross-border equipment financing involves obtaining a loan, lease, or sale-leaseback agreement to purchase equipment from another country. The process typically includes working with a lender who understands international transactions, handling currency conversion, and ensuring compliance with Canadian and foreign regulations.
Requirements generally include a solid credit history, financial statements, details about the equipment and its purchase, and sometimes information about the seller. For sale-leaseback arrangements, you'll need to provide details about the existing equipment you wish to sell and lease back. Lenders may also require documentation related to the cross-border transaction and compliance with international trade regulations.
Currency exchange rates can impact the total cost of the equipment and the financing terms. Lenders may offer options to lock in exchange rates or manage fluctuations. Sale-leaseback arrangements also involve considering how currency rates affect the valuation of equipment being sold and leased back.
Yes, additional fees may include currency conversion fees, international transaction fees, and possible import duties or taxes. For sale-leaseback transactions, there may be fees related to the sale of existing equipment and the structuring of the lease. It’s important to review all potential costs with your lender.
To ensure compliance, work with your lender to understand the import regulations and requirements for bringing equipment into Canada. Consult with customs brokers or legal experts to ensure all necessary documentation and procedures are followed.
Yes, cross-border equipment financing can be used for both new and used equipment. This includes traditional loans, leases, and sale-leaseback arrangements. Terms and conditions may vary based on the equipment's age, condition, and the lender’s policies.
Mitigation strategies include working with experienced lenders who understand international transactions and can provide guidance on managing currency exchange risks. It’s also important to conduct thorough due diligence on the equipment and the seller, ensure compliance with all relevant regulations, and work with legal and customs experts to navigate any potential issues.
