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Equipment Loans Quebec - Compare Providers
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 |  | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 100 | 1694390400 |  | $500 – $2,500 | 18.99% | 3 – 6 | ||
| 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 | ||
| 8 | 1666051200 |  | $250 | 0% | – | ||
| 100 | 1643932800 |  | $500 – $15,000 | Starting at 18.9% | 6 – 60 | ||
| 100 | 1600646400 |  | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 | ||
| 100 | 1598918400 |  | Up to $15,000 | – | – | ||
| 100 | 1592438400 |  | $500 – $1,500 | 18.99% | 3 – 6 | ||
| 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 | ||
| 100 | 1551830400 |  | $100 – $1,000 | $14 per $100 borrowed | 14 days | ||
| 100 | 1550534400 |  | $3,000 – $15,000 | 13.99% – 34.99% | 12 – 60 | ||
| 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 | ||
| 100 | 1545350400 |  | $300 – $3,000 | 22% – 32% | 3 – 4 | ||
| 15 | 1545350400 |  | $500 – $1000 | Up to 32% | 3 | ||
| 100 | 1545350400 |  | $300 – $3,000 | 27% – 35% | 90 – 120 days | ||
| 5 | 1545264000 |  | $500 – $100,000 | 29.99% – 35% | 9 – 84 |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | Up to $50,000 | Prime – 35% | 3 – 120 | ||
| 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 |  | – | – | – | ||
| 100 | 1598918400 |  | – | – | – | ||
| 100 | 1592438400 |  | – | – | – | ||
| 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 | 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 |  | – | – | – | ||
| 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 |  | $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 |  | $10,000 – $300,000 | – | – | ||
| 6 | 1545350400 |  | $15,000 – $1,500,000 | – | 6 – 36 | ||
| 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 | ||
| 8 | 1624233600 |  | $5,000 – $75,000 | – | 12 – 96 | ||
| 100 | 1600646400 | | $1,000 – $35,000 | 12.99% – 29.99% | 12 – 84 | ||
| 100 | 1581033600 |  | – | – | – | ||
| 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 |  | $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 | 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 | 1545264000 |  | Up to $50,000 | – | – |
| Provider | Loan Amount | Rate | Term (Months) | Rating | |||
|---|---|---|---|---|---|---|---|
| 0 | 0 | | N/A | N/A | N/A | ||
| 100 | 1731542400 |  | $15,000 – $1,000,000 | Starts at 12% | Up to 36 | ||
| 5 | 1700524800 |  | – | - | - | ||
| 100 | 1695945600 |  | – | – | – | ||
| 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 | 1579478400 |  | – | 4.54% – 7.49% | 6 – 120 | ||
| 100 | 1578873600 |  | – | – | – | ||
| 100 | 1577059200 |  | – | Varies | – | ||
| 100 | 1577059200 |  | – | – | – | ||
| 100 | 1577059200 |  | – | 4.49% – 6.63% | 1 – 10 years | ||
| 100 | 1574985600 |  | $10,000 – $1,000,000 | 4.99% – 7.29% | 12 – 120 | ||
| 100 | 1574899200 |  | – | – | 12 – 60 | ||
| 100 | 1574899200 |  | – | 4.24% – 6.30% | – | ||
| 100 | 1560124800 |  | – | 4.64% – 5.80% | 1 – 10 years |
| Provider | Services | Rating | |||
|---|---|---|---|---|---|
| 0 | 0 | | Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation | ||
| 100 | 1576540800 |  | Credit Counselling, Bankruptcy, Consumer Proposal | ||
| 100 | 1576540800 |  | 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 |
Being one of Canada’s busiest coastal territories, it’s no surprise that one of Quebec’s major sources of revenue belongs to its shipping industry, as well as hydroelectric power production. Popular cities like Montreal and Quebec City are also great spots for tourism, food/beverage service, and artistic culture. Anyone of these business types can profit greatly when the proper equipment is readily available. The only problem is, equipment of any kind can be far too expensive to purchase with cash or credit cards. If you’re a business owner looking for the best equipment loans in Quebec, we have the information you need.
Looking for a bad credit loan in Montreal? Check this out.
Reliable Equipment: a Necessity for Almost Any Quebec Business
Even if a piece of equipment is as large as a tractor or as small as a desktop computer, reliable items like these can certainly be costly. However, almost every type of business in Quebec needs the right equipment to help rain in the profits. For instance:
- Kitchen and restaurant appliances for food and beverage services.
- Forklifts and other cargo-loading devices for shipping warehouses.
- Proper lighting and ventilation for art galleries and other cultural hotspots.
- Phones, printers and other office technology for tourism centres.
- Comfort and security items for motels, BnB’s, and vacation rental businesses.
- Cardio machines and other exercise equipment for fitness clubs and gyms.
- Examination chairs and other medical/dental technology for health-related practices and clinics
Equipment loans in Quebec are one of the best ways for any business, small or large, to purchase the equipment they need to succeed.
Equipment as Collateral: Another Borrowing Option
If you do not require additional equipment for your Quebec business and already own every piece in your repertoire, there’s another borrowing method you can make use of. If your lender can find some resale value in your equipment, you can actually offer it up as collateral in order to secure similar amounts of loan cash at a more favorable interest rate than you would receive with a regular unsecured loan. Once you pay that full loan balance back, the rights to your equipment will be returned. Until then, you can spend your loan cash on almost any other business need, such as:
- Increasing your employees’ pay when wages in Quebec rise.
- Funding job security, dental insurance, and other employee benefits.
- Fueling, repairing or purchasing new business-related vehicles.
- Stocking your shelves with enough supplies, merchandise, products, etc.
- Providing food, beverages and other items for your break room.
- Paying your hydro-electric bills, phone/internet, and other typical property costs.
- Paying maintenance or construction workers when your workspace needs repairs or renovations.
Would you rather look into regular installment loans in Quebec? Read about them here.
Equipment Loans In Quebec: Versatile Tools for Your Trade
A reliable equipment loan won’t just help you keep your business running and allow you the opportunity to borrow when you need to, it can also benefit you in plenty of other ways, including but not limited to:
- The option to lease or finance heavy machinery.
- The option to lease or finance brand new equipment when your used items fail.
- The option to lease or finance multiple equipment items to increase efficiency.
- The freedom to discuss a reasonable, adjustable loan payment schedule
- The reassurance that you’ll be working with a lender who knows all about your specific business type.
- The comfort of knowing exactly how much your loan will cost in advance (principal, interest, fees, etc.).
Click here if you’ve been looking for the right business loan in Quebec.
Frequently Asked Questions
Do I need collateral to get an equipment loan?
If you are looking to purchase heavy equipment, such as a bulldozer or crane, then it will act as security for the loan. This means that while you do own the equipment, it can be taken back by the lender if you default on your loan. They will sell the equipment and put the proceeds towards paying off what you owe for the loan. To qualify, you may be asked to make a downpayment, especially if you have bad credit. If you want to use an equipment loan to purchase smaller equipment, such as furniture and computers, then the lender may want to put a general lien on your business assets instead. This will require a closer evaluation of your business and its creditworthiness.
What is the highest interest rate for equipment loans in Quebec?
For an equipment loan, you can expect an interest rate anywhere between 2.5% to 35%. Where this amount falls will depend on several factors. The most influential factor will be the financial well-being of your business in addition to your credit score. Of course, the value and condition of the equipment is something else to consider. Newer and more expensive equipment command better interest rates than their older and less expensive counterparts. As for the term length of the loan, it can fall anywhere between 3 months and up to 10 years. This length of time will of course depend on the loan amount, the size of installments, and even the life cycle of the equipment.
I have bad credit. Can I get an equipment loan in Quebec?
Getting approved for an equipment loan through a bank can be tough. Unless you have an excellent credit score, you likely won’t be approved. However, for businesses in Quebec, online lenders offer an alternative means of being approved. Rather than focusing strictly on credit scores, these providers consider other factors such as how long the business has been established and their monthly revenue. While the interest rates might be higher in general, the loan approval process is more lenient. And, getting qualified at all is better than not getting the funds you need to make your business grow. That said, if your credit score is less than 600 to 650, you may need to consider offering a down payment or putting up collateral for the equipment loan.
Running a Quebec Business? Talk to Loans Canada
At Loans Canada, we understand just how challenging and time-consuming it can be to look after your own business. For that reason alone, it’s best that you don’t have to wait too long to gain access to the equipment you need. Apply with us today and see your business grow and succeed with the right equipment loan in Quebec.
