The Best Equipment Pre-Approvals in Canada
Get the clarity you need before bidding on or purchasing equipment with financing pre-approvals. Apply with Equipment Finance Canada, and we’ll provide an answer within 24 hours.
Start application
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, all you need to do is collect your equipment and continue growing your business. Our team will handle the rest.
Why choose pre-approvals
Purchase or bid on equipment with confidence
Whether you’re not yet ready to buy or are unsure what you can afford, pre-approval financing helps you move forward with confidence. With confirmation of funds from one of Canada's leading lenders, you can search for equipment knowing you’re approved for financing.
Apply Now
Understand what you can afford
No more guesswork or missed opportunities. Pre-approval financing provides you with a confirmed line of credit, allowing you to bid on equipment at auctions and make purchases, knowing exactly what you can afford.
A fast, easy process
As we work directly with trusted lenders across Canada, we can obtain approvals within 24 hours, helping your business act on equipment purchases quickly.
Done for you
We only need information on your business and the equipment you’re purchasing, including its price, to process your application on your behalf.
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.
Apply Now
FAQS
We answer your most pressing questions about equipment financing.
Equipment financing pre-approval is a process where a lender evaluates your business’s financial health and creditworthiness to determine the maximum amount of financing you are eligible for before you make an equipment purchase. This helps streamline the buying process and provides you with a clear budget.
Auction pre-approval is a type of equipment financing pre-approval specifically for purchasing equipment at auctions. It ensures that you have pre-approved funds available for bidding, allowing you to act quickly and confidently during the auction process.
Benefits include faster purchase decisions, increased negotiating power, and the ability to quickly secure equipment when opportunities arise. Pre-approval also helps streamline the financing process by having terms and amounts set in advance.
To obtain auction pre-approval, you need to apply with a lender who offers this type of financing. You will need to provide financial statements, credit history, and details about the auction and equipment you are interested in purchasing.
Common documents include financial statements, tax returns, a business plan, and information about the equipment. For auction pre-approval, additional details about the auction and equipment may be needed.
The pre-approval process typically takes a few days, depending on the lender and the completeness of your application. Auction pre-approval may be expedited if you provide all required information promptly.
Yes, equipment financing pre-approval can be specifically tailored for auction purchases through auction pre-approval. This ensures you have the necessary funds in place to bid and secure equipment at auctions.
Factors include your credit score, financial health of your business, the value of the equipment, and your overall borrowing history. Lenders assess these elements to determine the amount of financing you are eligible for.
Yes, auction pre-approval is a specific form of equipment financing pre-approval designed for equipment purchases at auctions. It focuses on ensuring funds are available for immediate use during the auction process, while general pre-approval can be used for various types of equipment purchases.
If your pre-approval amount is insufficient, you can either seek additional financing from the same or a different lender or consider adjusting your bidding strategy based on the pre-approved amount. It’s also helpful to communicate with your lender about potential options for increasing your pre-approval limit.
