Table of Contents show
Equipment Loans Nova Scotia - Compare Providers
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 |  | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 23 | 1700524800 |  | Up to $25,000 | 24.99% – 29.99% | 30 or 60 | ||
| 7 | 1692748800 |  | Up to $350 | 0% | Up to 65 days | ||
| 100 | 1688083200 |  | $150 – $1,600 | 10 – 35% | 3 – 6 | ||
| 100 | 1686182400 |  | $300 – $3,000 | 18% + fees | 6 | ||
| 100 | 1686182400 |  | $300 – $3,000 | 18% + fees | 6 | ||
| 100 | 1686182400 |  | $300 – $3,000 | 18% + fees | 6 | ||
| 22 | 1683676800 |  | $15,000 | 6.7% | Up to 60 | ||
| 2 | 1670889600 |  | $1,000 – $15,000 | 19.9% – 34.9% | – | ||
| 8 | 1666051200 |  | $250 | 0% | – | ||
| 100 | 1643932800 |  | $500 – $15,000 | Starting at 18.9% | 6 – 60 | ||
| 100 | 1642723200 |  | Up to $1,500 | $14 per $100 borrowed | 14 days | ||
| 100 | 1623369600 |  | Varies | 0% | 6 or 8 weeks | ||
| 1 | 1620777600 |  | Up to $35,000 | 9.99% – 35% | 6 – 60 | ||
| 24 | 1607558400 |  | $500 – $50,000 | Varies | 6 – 60 | ||
| 100 | 1600646400 |  | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 | ||
| 100 | 1598918400 |  | Up to $15,000 | – | – | ||
| 100 | 1598832000 |  | $500 – $15,000 | Start at 10.99% | 9 – 60 | ||
| 19 | 1582243200 |  | – | – | Up to 60 | ||
| 100 | 1580860800 |  | $1,500 – $10,000 | – | 12 – 60 | ||
| 17 | 1580774400 |  | $1,000 – $25,000 | 8.99% – 34.99% | 36 or 60 | ||
| 100 | 1579478400 |  | $100 – $1,500 | – | – | ||
| 14 | 1579478400 |  | $850 – $1,600 | 29.78% – 34.95% | 36 months | ||
| 100 | 1576713600 |  | $500 – $100,000 | Starting at 12.99% | Up to 60 | ||
| 10 | 1552262400 |  | $500 – $18,000 | 29.9% or 34.28% | 6 – 60 | ||
| 100 | 1551830400 |  | $100 – $1,000 | $14 per $100 borrowed | 14 days | ||
| 100 | 1551830400 |  | $1,000 – $15,000 | 19% – 34.95% | 12 – 60 | ||
| 100 | 1551398400 |  | Up to $1,500 | $14 per $100 borrowed | 14 days | ||
| 23 | 1551139200 |  | Up to $15,000 | 34.99% | Open-end | ||
| 100 | 1550534400 |  | $100 – $1,500 | $14 per $100 borrowed | 14 days | ||
| 11 | 1569974400 |  | Up to $1,500 | $14 per $100 borrowed | Up to 62 days | ||
| 100 | 1550534400 |  | $500 – $1,000 | 23% | 3 – 6 | ||
| 100 | 1550534400 |  | $300 – $1,000 | Up to 38% | 3 – 4 | ||
| 100 | 1549411200 |  | $100 – $1,500 | $14 per $100 borrowed | 14 days | ||
| 100 | 1567555200 |  | $300 – $3,000 | 18% + fees | 6 | ||
| 100 | 1549238400 |  | $250 – $1,500 | 23.99% – 29.99% | 3 – 4 | ||
| 20 | 1548720000 |  | $500 – $1,000,000 | 7.9% | 12 | ||
| 4 | 1543622400 |  | Up to $60,000 | 19.99% – 34.99% | 6 – 120 months | ||
| 100 | 1545350400 |  | $300 – $1500 | Starting at 18% | 3 – 7 | ||
| 15 | 1545350400 |  | $500 – $1000 | Up to 32% | 3 | ||
| 100 | 1545350400 |  | $500 – $750 | 23% | 3 – 4 | ||
| 100 | 1545350400 |  | $500 – $750 | 22% | 90 – 120 days | ||
| 100 | 1545350400 |  | $300 – $3,000 | 27% – 35% | 90 – 120 days | ||
| 5 | 1545264000 |  | $500 – $100,000 | 29.99% – 35% | 9 – 84 | ||
| 3 | 1545264000 |  | Up to $5,000 | 34.37% | – | ||
| 9 | 1568937600 |  | Up to $10,000 | Varies by product | Varies by product | ||
| 21 | 1545177600 |  | Up to $35,000 | Starting at 12.99% | Up to 60 | ||
| 13 | 1545177600 |  | $100 – $20,000 | Up to 35% | Up to 60 | ||
| 100 | 1569974400 |  | $200 – $1,500 | $14 per $100 borrowed | Next payday |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 3 | 1725321600 |  | Up to $40,000 | $0.75 per $1,000 per day | – | ||
| 8 | 1714089600 |  | $10,000 – $20,000,000 | – | – | ||
| 7 | 1714089600 |  | $10,000 – $2,000,000 | 10%+ | Up to 36 | ||
| 2 | 1669852800 |  | $10,000 – $300,000 | – | 3 – 24 | ||
| 100 | 1648512000 |  | $1000 - $250,000 | – | – | ||
| 100 | 1620345600 |  | – | – | 12 – 60 | ||
| 100 | 1611878400 |  | – | – | – | ||
| 24 | 1607558400 | | $500 – $50,000 | Varies | 6 – 60 | ||
| 100 | 1598918400 |  | – | – | – | ||
| 100 | 1585612800 |  | – | – | 6 – 60 | ||
| 100 | 1580947200 |  | $200,000 – $5,000,000 | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | $5,000 – $1,000,000 | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580688000 |  | Up to $10,000 | Prime + 2.5% | Up to 60 | ||
| 100 | 1580256000 |  | $5,000 – $800,000 | – | 6 – 24 | ||
| 100 | 1579478400 |  | $50,000 – $5,000,000 | – | 3 – 36 | ||
| 100 | 1579478400 |  | – | – | 24 – 60 | ||
| 100 | 1579478400 |  | – | – | – | ||
| 100 | 1579478400 |  | Up to $1,200,000 | – | 12 – 84 | ||
| 100 | 1579046400 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1575849600 |  | $5,000 – $150,000 | Starting 15% | 6 – 24 | ||
| 100 | 1575849600 |  | Up to $250,000 | – | – | ||
| 100 | 1575590400 |  | – | – | – | ||
| 100 | 1575590400 |  | – | – | – | ||
| 1 | 1545955200 |  | $1,000 – $300,000 | 5.49% – 22.79% | 12 – 60 | ||
| 100 | 1552262400 |  | Up to $250,000 | – | Up to 10 years | ||
| 100 | 1552262400 |  | Up to $1,000,000 | – | – | ||
| 100 | 1551830400 |  | $10,000+ | – | Up to 15 years | ||
| 100 | 1551830400 |  | Up to $1,000,000 | – | Up to 15 years | ||
| 100 | 1551830400 |  | Up to $500,000 | – | Up to 15 years | ||
| 100 | 1551830400 |  | Starting at $5,000 | – | Up to 84 | ||
| 100 | 1551398400 |  | $3,500+ | – | – | ||
| 100 | 1551398400 |  | $10,000 – $1,000,000 | 4% – 14% | 12 – 84 | ||
| 100 | 1551139200 |  | Up to $250,000 | – | Up to 48 | ||
| 100 | 1550534400 |  | $500 – $50,000 | 2.75% – 8.25% | 12 week cycles | ||
| 100 | 1550534400 |  | $1,000 – $1,000,000 | 6% – 20% | – | ||
| 100 | 1550534400 |  | Up to $5,000,000 | – | 24 – 72 | ||
| 100 | 1550534400 |  | $5,000 – $200,000 | – | – | ||
| 100 | 1549411200 |  | $50,000 – $12,000,000 | – | 24 – 96 | ||
| 100 | 1548720000 |  | Up to $100,000 | – | – | ||
| 100 | 1548720000 |  | $10,000 – $300,000 | – | – | ||
| 100 | 1545264000 |  | Up to $250,000 | – | 3 – 24 | ||
| 6 | 1545350400 |  | $15,000 – $1,500,000 | – | 6 – 36 | ||
| 5 | 1545177600 |  | $5,000 – $300,000 | 9% – 35% | Varies by product | ||
| 4 | 1545177600 |  | $5,000 – $500,000 | 4.96% – 24.93% | 1 – 60 |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 2 | 1679529600 |  | Varies | Varies | 24 – 96 months | ||
| 3 | 1632960000 |  | Min. $10,000 | 6.93% – 19.99% | 18 – 96 | ||
| 8 | 1624233600 |  | $5,000 – $75,000 | – | 12 – 96 | ||
| 24 | 1607558400 | | $500 – $50,000 | Varies | 6 – 60 | ||
| 100 | 1600646400 | | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 | ||
| 6 | 1597104000 |  | – | – | – | ||
| 6 | 1582761600 |  | – | – | – | ||
| 100 | 1581033600 |  | – | – | – | ||
| 100 | 1580688000 |  | – | Starting at 12.9% | – | ||
| 100 | 1579478400 |  | – | – | – | ||
| 100 | 1579478400 |  | – | – | – | ||
| 100 | 1579478400 |  | – | – | – | ||
| 100 | 1578873600 |  | – | Starting at 10.99% | – | ||
| 100 | 1578873600 |  | – | – | – | ||
| 100 | 1551830400 | | Starting at $5,000 | – | – | ||
| 100 | 1552262400 | | Up to $1,000,000 | – | up to 96 | ||
| 100 | 1551830400 |  | – | – | 6 – 96 | ||
| 100 | 1551830400 | | $10,000+ | – | 12 – 96 | ||
| 100 | 1551830400 | | Up to $1,000,000 | – | Up to 15 years | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1575849600 |  | – | – | – | ||
| 100 | 1575849600 |  | $5,000 – $45,000 | 4.90 % – 29.95% | – | ||
| 100 | 1575849600 |  | – | – | – | ||
| 100 | 1575590400 |  | – | – | – | ||
| 6 | 1569974400 |  | – | Up to 29.99% | 12 – 96 | ||
| 100 | 1561507200 |  | – | – | – | ||
| 1 | 1560124800 |  | Up to $100,000 | 3.99% - 19.9% | 24 -96 | ||
| 100 | 1551830400 |  | – | – | – | ||
| 100 | 1548633600 |  | – | Starting at 4.2% | – | ||
| 100 | 1545177600 |  | – | – | 12 – 84 |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 100 | 1578873600 |  | Up to $50,000 | – | 24 – 60 | ||
| 100 | 1545264000 |  | Up to $50,000 | – | – |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | N/A | N/A | N/A | ||
| 3 | 1726531200 |  | $5,000 + | 6% – 16% | 12 – 60 | ||
| 5 | 1700524800 |  | – | - | - | ||
| 4 | 1690934400 |  | – | – | – | ||
| 2 | 1688601600 |  | Min $110,000 | 4.14% – 6.29% | 24– 120 | ||
| 100 | 1627344000 |  | – | 4.50% – 5.97% | 12 – 60 | ||
| 100 | 1581033600 |  | – | 4.19% – 6.04% | 12 – 120 | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | 2.99% – 5.49% | 6 – 60 | ||
| 100 | 1580860800 |  | $50,000+ | – | 12 – 120 | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580860800 |  | – | – | – | ||
| 100 | 1580688000 |  | – | – | 6 – 60 | ||
| 100 | 1579478400 |  | – | 4.54% – 7.49% | 6 – 120 | ||
| 100 | 1578873600 |  | – | – | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | 4.49% – 6.63% | 1 – 10 years | ||
| 100 | 1574899200 |  | – | – | 12 – 60 | ||
| 100 | 1560124800 |  | – | 4.64% – 5.80% | 1 – 10 years | ||
| 100 | 1548806400 |  | $10,000 – $3,000,000 | Varies | 12 – 24 | ||
| 1 | 1517097600 |  | $10,000 – $500,000 | Starting at 10% | – |
| Provider | Services | Rating | |||
|---|---|---|---|---|---|
| 0 | 0 | | Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation | ||
| 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 |
Nova Scotia, in the Atlantic Ocean on the eastern coast of Canada, is, of course, a major area for both the shipping and fishing businesses. Nova Scotia is also home to a ton of other profitable industries, including the production and exportation of beer. In fact, the Alexander Keith’s Brewery, one the oldest commercial beer breweries in North America, is located right in downtown Halifax, and you can bet they need a lot of reliable equipment to keep business flowing. If you’re reading this, it must mean that your Nova Scotia business does too.
Click here to learn more about loans in Nova Scotia.
Loans for Any Nova Scotia Business Equipment
Shipping, fishing and beer brewing aren’t the only Nova Scotia enterprises that can benefit from the help of an equipment loan. There’s plenty of equipment required with these other industry professions in Nova Scotia:
- Construction and contract work
- Daycares and schools
- Legal clinics and private law firms
- Dermatology practices and other medical facilities
- Florist shops
- Real estate businesses
- Restaurants, bars, and nightclubs
- Warehouses, wholesalers, and distributors
Equipment Gives You the Power to Borrow in Nova Scotia
Did you know that you can get another kind of loan once you’ve financed your equipment completely? It’s just one of the many ways a Nova Scotia equipment loan can help expand your business (look for more below). Once your lender in does an evaluation of your equipment (machinery, company vehicles, commercial assets, etc.), they may conclude that there’s some good value to it. If so, you may leverage that equipment as collateral to secure further loan money, which you can spend however you’d like. For instance, with liquid loan cash, you can:
- Increase your productivity by hiring extra employees
- Buy the right work gear, uniforms, safety equipment, etc.
- Finance repairs, renovations or installments for your current or future workspace
- Buy supplies for your office, break room, restrooms, etc.
- Buy/lease advertising space on billboards, in newspaper classifieds, etc.
- Pay your property taxes, utility bills, and other regular business expenses
Equipment Financing For Your Industry
And That’s Not All…
A Nova Scotia equipment loan through Loans Canada offers plenty of other benefits, including but not limited to:
- The ability to upgrade to new equipment once yours becomes unreliable.
- The option to purchase or lease heavy machinery.
- More affordability for multiple equipment items.
- Negotiable payment plans that are easier on your finances.
- Approval times are fast, so you’ll be able to get back to work quickly.
- Lenders that understand your personal and business-related needs, as well as the industry you’re working in.
- Exact details of your payments, interest rate, and other fees, which will help you budget accordingly for the price of your equipment pieces.
Want to know more about new equipment purchase financing? Look here.
Frequently Asked Questions
Should I get an equipment loan or a finance lease?
Your business may not be able to afford a large one-time purchase of new equipment. In this case, you may consider between an equipment loan or finance lease. Which one you choose will depend on your needs. With an equipment loan, you’ll have ownership of the equipment and claim the depreciation and interest as tax deductions. However, because it’s a secured loan, the lender can take the equipment back if you fail to make payments. A finance lease, on the other hand, means that the lender has ownership of the equipment and they rent it out to you. You don’t have to worry about accumulating debt or if the equipment becomes outdated. However, if you plan to buy out the equipment at the end of the lease, it may just be cheaper to have taken an equipment loan in the first place.
What documents do I need to apply for an equipment loan?
As a business in Nova Scotia, you may require an equipment loan to move things forward. Your two options are banks and online lenders. Each one has its own unique requirements and approaches to approving potential borrowers. Banks are stricter and require an excellent credit score. They often ask applicants to submit a lengthy business plan document as well. While you may benefit from a favourable interest rate, responses can take up to 3 months and you may not be approved at all. Alternatively, online lenders consider applicants with lower credit scores and don’t usually require a business plan document. The tradeoff is a generally higher interest rate. Both types of institutions will ask for some combination of business-related documents. These can include balance sheets, tax returns, invoices, profit and loss statements, bank statements, and so on.
Is collateral needed for an equipment loan?
In the case of high-value equipment — such as construction equipment like excavators or bulldozers — these can act as collateral for the equipment loan. If you fail to make timely payments on the loan, the lender will simply seize the asset and sell it to cover your outstanding balance. You’ll be on the hook for the remaining balance after that. If your credit score is very low, you will likely be asked to make a downpayment on the vehicle. If the equipment loan isn’t for a high-value asset, the lender may instead opt for a general lien on your business’s assets to qualify you for a loan.
Looking for an Equipment Loan in Nova Scotia? We Have the One You Need!
We understand how valuable your time is and that your business in Nova Scotia is important to you. Don’t worry, because Loans Canada is always here to serve you with the best equipment loans in your area of Nova Scotia. Apply with us today!
