Equipment Loans Richmond, British Columbia

📅 Last Updated: October 4, 2021

✏️ Written By Kale Havervold

🕵️ Fact-Checked by Caitlin Wood

Table of Contents show

Equipment Loans Richmond - Compare Providers

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 46.96%	3 - 120	Up to $50,000
9	1718582400	$100 to $1500	24%	Next payday	$100 to $1500
100	1709683200	up to $1,250	12%-32%	90 - 150 days	up to $1,250
23	1700524800	$5,000 - $25,000	24.99% - 29.99%	30 or 60	$5,000 - $25,000
21	1700524800	$1,000 - $5,000	46%	9-24	$1,000 - $5,000
15	1695254400	$1250	16.06% (nominal) - 31.99% (effective)	3 - 5	$1250
3	1692748800	Up to $350	0%	Up to 65 days	Up to $350
8	1688083200	$150 - $1,600	10 - 35%	3 - 6	$150 - $1,600
100	1686182400	$300 - $3,000	18% + fees	6	$300 - $3,000
100	1686182400	$300 - $3,000	18% + fees	6	$300 - $3,000
100	1686182400	$300 - $3,000	18% + fees	6	$300 - $3,000
6	1683676800	$15,000	6.7%	Up to 60 months	$15,000
1	1670889600	$1,000 - $15,000	19.9% - 34.9%	-	$1,000 - $15,000
7	1666051200	$250	0%	-	$250
100	1643932800	$500 - $15,000	+18.9% APR	6 - 60	$500 - $15,000
100	1642723200	up to $1,500	-	-	up to $1,500
13	1639094400	$1,000 - $15,000	29.9% - 46.9% APR	12 - 60	$1,000 - $15,000
30	1637280000	$5,000 - $50,000	5.75% - 22.99%	Up to 84	$5,000 - $50,000
100	1623369600	Varies	0%	6 or 8 weeks	Varies
2	1620777600	Up to $35,000	9.99% - 46.96%	9 - 78	Up to $35,000
17	1607558400	$500 - $50,000	6.99% - 46.99%	12 - 36	$500 - $50,000
100	1598918400	$1,000 - $15,000	-	-	$1,000 - $15,000
100	1598832000	$500 – $15,000	+ 25.99%	9 - 60	$500 – $15,000
100	1595980800	$200 - $1,200	25% - 32%	-	$200 - $1,200
100	1593561600	-	0+	2 - 60	-
100	1589155200	$2,500	15.65% AIR	13 - 26	$2,500
100	1582243200	-	-	Up to 60	-
100	1580947200	-	-	-	-
100	1580860800	$500 - $5,000	-	12 - 24	$500 - $5,000
100	1580860800	$350 - $1,000	-	2 - 12 weeks	$350 - $1,000
16	1580774400	$1,000 - $25,000	7.5% - 31.5% APR	36 - 60	$1,000 - $25,000
100	1579478400	$100 - $1,500	-	-	$100 - $1,500
100	1579219200	$100 - $25,000	+4.9%	-	$100 - $25,000
100	1579219200	-	15% - 19%	-	-
100	1576713600	-	Up to 35%	-	-
18	1576713600	$500 - $100,000	6.99% - 14.99%	12 - 240	$500 - $100,000
100	1575590400	1800- 2900	15.99%	23 - 36	1800- 2900
100	1562198400	$500 - $15,000	15.99 - 39.99%	6 - 60	$500 - $15,000
100	1560124800	Up to $15,000	29.99% - 46.96%	9 - 60	Up to $15,000
19	1552262400	$1,000 - $15,000	29.9% or 46.90%	6 - 60	$1,000 - $15,000
100	1569974400	$500 - $50,000	15 - 30%	-	$500 - $50,000
100	1551830400	$1,000 - $15,000	19% - 46.95%	6 - 60	$1,000 - $15,000
100	1551398400	Up to $1,500	15% - 19%	14 days	Up to $1,500
100	1551398400	$100 - $1,500	15% - 17%	14 -31 days	$100 - $1,500
100	1551398400	$500 - $1,000	28% - 32%	-	$500 - $1,000
100	1551398400	-	-	14 days	-
18	1546128000	Up to $5,000	19.9% - 45.9% APR	6 - 36	Up to $5,000
100	1551139200	$5,000 - $35,000	9.9%+	6 - 60	$5,000 - $35,000
15	1551139200	Up to $15,000	29.99% to 46.93% APR	Open-end	Up to $15,000
100	1550534400	$300 - $25,000	7.95%+	36 - 60	$300 - $25,000
100	1550534400	$100 - $1,500	-	14 days	$100 - $1,500
100	1569974400	Up to $1,500	15% - 17%	up to 62 days	Up to $1,500
100	1550534400	Up to $1,500	Up to 59% APR	14 days	Up to $1,500
19	1550534400	$2,500 +	-	-	$2,500 +
100	1550534400	$500 - $1,000	28% - 32%	3 -5	$500 - $1,000
100	1550534400	$300 - $1,000	38% APR	3 - 4	$300 - $1,000
100	1549411200	$100 - $1,000	546% APR	14 days	$100 - $1,000
100	1567555200	$300 - $3,000	18% + fees	6	$300 - $3,000
100	1549238400	$500 - $1,000	28% - 32%	4 - 5	$500 - $1,000
100	1549238400	$100 - $1,500	90% - 390% APR	14 days	$100 - $1,500
100	1549238400	$250 - $1,000	29% APR	3 - 4	$250 - $1,000
20	1548720000	$500 - $1,000,000	7.9%	12	$500 - $1,000,000
100	1548720000	$1,000 - $50,000	4.6% – 49.96%	3 - 60	$1,000 - $50,000
100	1548633600	$300 - $7,500	29.9% - 39.9%	6 - 60	$300 - $7,500
100	1548633600	$50 - $1,500	-	14 days	$50 - $1,500
100	1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
16	1545264000	$2,000 - $10,000	18.9% - 54.9%	12 - 60	$2,000 - $10,000
5	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
2	1543622400	Up to $60,000	19.99% - 39.99%	6 - 120	Up to $60,000
100	1545177600	$2,000 – $10,000	34.9% - 43%	12 - 60	$2,000 – $10,000
10	1545264000	$500 - $12,500	19.99%+	12 - 60	$500 - $12,500
100	1545350400	Up to $1000	30%	3 - 5	Up to $1000
100	1545350400	Up to $5,000	60%	6 - 60	Up to $5,000
100	1545350400	Up to $3,000	22% - 35%	3 - 4	Up to $3,000
100	1545350400	Up to $7,000	-	6 – 60	Up to $7,000
100	1545350400	$500 - $2,500	29% - 46.95%	6 - 36	$500 - $2,500
5	1545350400	$500 - $1000+	28%-32%	3	$500 - $1000+
100	1545350400	$500 – $750	28% – 34.4%	3	$500 – $750
100	1545350400	$500 – $750	23% - 34.4%	3 – 12	$500 – $750
100	1545350400	$300 - $1500	27% - 35%	3 - 4	$300 - $1500
4	1545264000	$500 - $100,000	Starting at 29.99%	9 - 84	$500 - $100,000
3	1545264000	Up to $5,000	47.72%	-	Up to $5,000
4	1568937600	$1,500 – $10,000	Varies by province	Varies	$1,500 – $10,000
10	1545177600	$1,000 - $35,000	5.99% - 29.19%	36 - 60	$1,000 - $35,000
18	1545177600	$100 - $20,000	Up to 46.8%	Up to 60	$100 - $20,000
100	1569974400	Up to $1,500	15% - 23%	14 days	Up to $1,500

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 46.96%	3 - 120	Up to $50,000
3	1725321600	up to $40,000	-	-	up to $40,000
8	1714089600	$10,000 +	4%-45%	90 days+	$10,000 +
7	1714089600	$10,000 to $2,000,000	10%+	Up to 36	$10,000 to $2,000,000
3	1697414400	Up to $800,000	9% - 49.99%	3, 6, 9, or 12	Up to $800,000
2	1669852800	$5,000 - $300,000	-	3 - 24 months	$5,000 - $300,000
100	1648512000	$10,000 - $250,000	Varies	6-12	$10,000 - $250,000
100	1620345600	-	-	12 - 60	-
100	1611878400	$5,000 - $30,000,000	-	Up to 18	$5,000 - $30,000,000
17	1607558400	$500 - $50,000	6.99% - 46.99%	6 - 36	$500 - $50,000
100	1598918400	-	-	-	-
100	1592438400	-	-	-	-
100	1585612800	-	0.9% - 12%	6 months - 5 years	-
100	1581984000	$10,000 - $10,000,000	6% - 12.5%	-	$10,000 - $10,000,000
100	1581292800	-	-	-	-
100	1581033600	-	-	-	-
100	1581033600	-	-	-	-
100	1581033600	-	-	-	-
100	1580947200	-	-	-	-
100	1580947200	$10,000 - $1,000,000	-	-	$10,000 - $1,000,000
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	$5,000 - $1,000,000	-	-	$5,000 - $1,000,000
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	up to $250,000	-	-	up to $250,000
100	1580860800	-	-	-	-
100	1580688000	Up to $10,000	-	-	Up to $10,000
100	1580256000	$5,000 - $500,000	-	6 - 18 months	$5,000 - $500,000
100	1579478400	-	-	-	-
100	1579478400	$10,000- $30,000,000	Min 4.95%	-	$10,000- $30,000,000
100	1579478400	-	-	12 - 120	-
100	1579478400	-	-	24 to 60	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1579046400	-	-	-	-
100	1578873600	-	-	-	-
100	1577059200	-	-	-	-
100	1577059200	-	-	-	-
100	1577059200	-	-	-	-
100	1575849600	$5,000 - $150,000	15% +	6 - 24	$5,000 - $150,000
100	1575849600	Up to $250,000	-	-	Up to $250,000
100	1575590400	-	-	-	-
100	1575590400	-	-	-	-
1	1545955200	$5,000 - $150,000	Fee-Based: Starting at 9%	12 - 60	$5,000 - $150,000
100	1552262400	$500,000 - $10,000,000	-	-	$500,000 - $10,000,000
100	1552262400	Up to $250,000	-	Up to 10 years	Up to $250,000
100	1552262400	-	-	-	-
100	1552262400	Up to $1,000,000	-	-	Up to $1,000,000
100	1551830400	$10,000+	-	Up to 15 years	$10,000+
100	1551830400	Up to $1,000,000	-	Up to 15 years	Up to $1,000,000
100	1551830400	Up to $500,000	-	Up to 10 years	Up to $500,000
100	1551830400	$5,000 - $10,000	-	Up to 7 years	$5,000 - $10,000
100	1551398400	$3,500+	-	-	$3,500+
100	1551398400	$10,000 - $1,000,000	4% - 14%	12 - 84	$10,000 - $1,000,000
100	1551139200	Up to $75,000	-	Up to 18	Up to $75,000
100	1550534400	$500-$50,000	0.5% weekly	12 week cycles	$500-$50,000
100	1550534400	$1,000 - $1,000,000	6% - 20%	-	$1,000 - $1,000,000
100	1550534400	Up to $5,000,000	4.5%	24 - 72	Up to $5,000,000
100	1550534400	-	-	-	-
100	1550534400	$5,000 - $200,000	-	-	$5,000 - $200,000
100	1549411200	$50,000 - $12,000,000	-	24 - 96	$50,000 - $12,000,000
100	1549411200	$5,000 - $1,000,000+	-	1 - 60	$5,000 - $1,000,000+
100	1549238400	$5,000 - $1,000,000	-	3 - 24	$5,000 - $1,000,000
100	1548720000	$5,000 - $5,000,000	-	4 - 18	$5,000 - $5,000,000
100	1548720000	Up to $100,000	6.05% +	60	Up to $100,000
100	1548720000	$10,000+	18% - 22%	-	$10,000+
100	1548720000	$10,000 - $300,000	4.70% - 5.45%	-	$10,000 - $300,000
100	1548633600	Up to $5,000,000	5% - 10%	12 - 60	Up to $5,000,000
10	1545177600	$1,000 - $35,000	5.6% – 25.5%	36 – 60	$1,000 - $35,000
100	1545264000	$5,000 - $250,000	-	3-18	$5,000 - $250,000
100	1545264000	$5,000 - $150,000	-	3 - 24	$5,000 - $150,000
6	1545350400	$5,000 – $100,000	15% +	12 – 18	$5,000 – $100,000
100	1545264000	$5,000 – $100,000	Starting at 6.87%	3 – 18	$5,000 – $100,000
5	1545177600	$5,000-$300,000	15% - 25%	4 - 24	$5,000-$300,000
4	1545177600	$5,000 – $500,000	Starting at 5.9%	3 – 60	$5,000 – $500,000
5	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1561507200	Up to $300,000	-	-	Up to $300,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 46.96%	3 - 120	Up to $50,000
3	1632960000	Up to $50,000	15.99% +	12 -72	Up to $50,000
8	1624233600	Up to $50,000	29.99% – 46.96%	12 - 96	Up to $50,000
17	1607558400	$500 - $50,000	-	24 - 60	$500 - $50,000
100	1594339200	-	-	-	-
100	1582761600	-	-	12 - 96	-
6	1582761600	-	11.9% - 22.9%	Up to 84	-
100	1581033600	-	+ 4.9%	-	-
100	1581033600	-	-	-	-
100	1580688000	-	-	-	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1578873600	-	+8.99%	-	-
100	1578873600	-	-	-	-
100	1551830400	$5,000 - $10,000	-	up to 84	$5,000 - $10,000
100	1552262400	Up to $250,000	-	12 - 60	Up to $250,000
100	1552262400	Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1551830400	Up to $100,000	-	6 - 96	Up to $100,000
100	1551830400	$10,000+	-	12 - 96	$10,000+
100	1551830400	Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1577059200	-	-	up to 72	-
100	1577059200	-	-	-	-
100	1575849600	-	Starting at 4%	Up to 84	-
100	1575849600	$5000 - $45,000	4.90 % - 29.95% APR	36 - 72	$5000 - $45,000
100	1575849600	-	-	-	-
100	1575590400	-	-	-	-
100	1575590400	-	-	-	-
100	1575504000	-	-	-	-
6	1569974400	$7500 - $59,995	3.95% +	12 - 96	$7500 - $59,995
100	1562112000	-	Up to 49.9%	-	-
100	1561507200	-	-	-	-
100	1561507200	-	-	Up to 84	-
1	1560124800	Up to $100,000	3.99% - 19.9%	24 -96	Up to $100,000
100	1551830400	Up to $30,000	-	-	Up to $30,000
100	1548720000	-	-	-	-
100	1548633600	-	4.2%+	-	-
100	1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
5	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1545177600	Up to $50,000	-	-	Up to $50,000
100	1545177600	$5,000 – $40,000	-	12 – 72	$5,000 – $40,000
100	1545177600	-	-	Maximum 84	-

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 46.96%	3 - 120	Up to $50,000
100	1578873600	$1,000 - $35,000	-	24 - 60	$1,000 - $35,000
100	1545955200	Up to $20,000	19% - 49%	36 - 48	Up to $20,000
100	1545264000	Up to $25,000	-	12 - 60	Up to $25,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	N/A	N/A	N/A	N/A
3	1726531200	$15,000 +	6% - 16%	12 - 60	$15,000 +
7	1708473600	Varies	Varies	1 - 10 years	Varies
5	1700524800	-	-	-	-
6	1696377600	-	5.69% +	-	-
100	1695945600	-	-	-	-
100	1695772800	-	-	-	-
4	1690934400	Varies	5.54%+	Varies	Varies
2	1688601600	Min $100,000	5.34%+	2 - 10 years	Min $100,000
3	1679616000	$100,000 - $2 million	Fixed, variable, or adjustable rates	1 - 5 years	$100,000 - $2 million
100	1627344000	-	1.94% - 2.45%	12 - 60	-
2	1620777600	Up to $35,000	-	-	Up to $35,000
100	1575849600	-	1.51% - 6.6%	1 - 10 years	-
100	1604016000	$15,000 to $1,500,000	+1.90%	-	$15,000 to $1,500,000
100	1581033600	-	2.74% - 6.30%	12 - 120	-
100	1580947200	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	2.64% - 4.45%	12 - 120	-
100	1580860800	$50,000+	2.74% - 3.49%	12- 120	$50,000+
100	1580860800	-	-	36 - 60	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580688000	-	2.79% - 6.00%	6 - 60	-
100	1579478400	-	2.74% - 3.70%	6 - 120	-
100	1578873600	-	-	-	-
100	1578873600	-	2.69% - 3.95%	6 - 120	-
100	1577059200	$25,000 - $800,000	4.59% - 5.64%	6 - 60	$25,000 - $800,000
100	1577059200	-	-	-	-
100	1577059200	-	--	-	-
100	1577059200	-	2.84% - 7.30%	-	-
100	1574985600	$100,000 - $750,000	-	12 - 120	$100,000 - $750,000
100	1574899200	min 25,000	3.89.% - 4.84%	12 - 60	min 25,000
100	1574899200	-	2.23% - 4.45%	-	-
100	1560124800	-	2.89% - 3.79%	-	-
100	1548806400	$10,000 - $1,500,000	Varies	12 - 24	$10,000 - $1,500,000
100	1548720000	-	2.41% - 3.84%	-	-
100	1548720000	-	-	-	-
1	1517097600	$10,000+	Based on equity	-	$10,000+

		Services	Rating
0	0	Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation	N/A (Referrer)
100	1576540800	Credit Counselling, Bankruptcy, Consumer Proposal
100	1576540800	Credit Counselling, Debt Management Program
100	1576368000	Credit Counselling, Debt Management Program
100	1576454400	Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring

From Richmond to Vancouver, to Victoria, British Columbia is becoming a hotspot for businesses. Entrepreneurship is alive and well in the province’s cities like Richmond and new businesses are being started frequently.

Regardless of what type of business you have, there is one thing most enterprises have in common, the need for money to purchase materials, pay employees, and cover the cost of daily expense. But another thing that most businesses need is equipment. This can be anything from huge machines for manufacturing companies, to computers, desks, and chairs for digital marketing companies.

Because most businesses don’t have the funds (at least initially) to afford all of this equipment, companies in Richmond and the rest of Canada often rely on equipment loans to get what they need.

Learn how to increase your business’s cash flow, click here.

Benefits of Choosing Equipment Financing

Why do consumers in Richmond go with equipment financing instead of just getting a standard loan for what they need? Well, the answer is that equipment financing can provide benefits that most standard loans just don’t.

When you choose to use equipment financing, you will work directly with experts and lenders in Richmond who understand the industry you are a part of. As you can imagine, this provides you with a handful of benefits. The first is that they will be able to help you come up with a budget that makes sense for what you need. Or, if you have a budget, they will be able to help you find what is right for your needs and price range alike.

Next, by working with these experts in Richmond, they will be able to help save you time and get back to work quicker than waiting around for a standard loan to be approved. Your lender will also understand your business needs, which is a nice bonus. Many of these equipment financing providers in Richmond also offer customized repayment plans, which is great for businesses with unpredictable or seasonal cash flow.

Want to know what you need to get a small business loan? Find out here.

These are all benefits you won’t get if you simply go with a standard loan. So not only does equipment financing get you the money you need, but will get it to you faster and ensure you get exactly what you need.

Types of Equipment That Can Be Purchased in Richmond

So now that you know the benefits of an equipment loan, what sorts of equipment can be purchased using one? Well, the good news is that nearly any sort of equipment can be purchased using an equipment loan. This includes:

Farming equipment (combines, tractors, etc…)
Transport vehicles (work trucks, forklifts, etc…)
Construction equipment (saws, hammers, materials, etc…)
Restaurant equipment (chairs, tables, ovens, etc…)

Of course, when purchasing equipment for your business, it is important to make intelligent purchases. When you’re just starting out, it makes sense to only buy a few pieces of equipment instead of purchasing everything you need at once.

Also, make sure you know exactly what you need and how much you can afford. Getting a huge loan for a lot of equipment you don’t necessarily needs can cripple your business’ finances before you really get started.

Trying to deal with your small business debt? Read this for some solutions.

Use Your Equipment to Borrow in Richmond

While you can use borrowed money to purchase the equipment you need, you can also use equipment that you currently own to borrow money. This is great for those situations where you have all of the equipment you need but require a little extra capital for other business expenses.

In these cases, a secured loan (with a piece of your equipment as collateral), makes a lot of sense. This type of loan can be used to do a wide variety of things in Richmond, including:

Hire more employees
Expand your operation
Open up a new location
Invest more in marketing
Make larger purchase orders
Offer additional services or products

These secured loans are often cheaper than traditional financing in Richmond, as there is less inherent risk present for the lender. If you don’t pay off your loan on schedule, they can sell off the collateral to make the money back. Because of this, the interest rates on secured loans can be more affordable depending on the lender you work with.

Of course, if you are going to put up some of your equipment as collateral, be sure that you can pay off the loan you borrow on time. If not, you could potentially lose your equipment, which could cause serious problems for your business in Richmond.

Do you know what your business credit score is? Learn more here.

Great Equipment Loans in Richmond for Your Needs

Interested in purchase new equipment for your business in Richmond? If so, don’t hesitate to reach out to Loans Canada. We will be able to assist you in finding a great loan for all the equipment you need to operate your business.

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