Loans Canada Launches Free Credit Score Portal And Is Recognized As One Of Canada’s Top Growing Companies
Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
Core Capital Group Inc is an equipment financing and leasing provider in Canada. They first originated in Ontario and since have branched out to Alberta, British Columbia and Quebec. They not only provide equipment financing and leasing but they also provide services in commercial lending and Corporate finance. This includes services such as asset-based lending, term loans and debt restructuring. Their main goal is to provide businesses with fast, flexible and unique solutions for their capital needs. They use their team; a group of individuals with varying fields of expertise to create these solutions. Check out Core Capital Group if your equipment is in need of being financed.
Although equipment financing and leasing are their main products, CORE Capital Group does offer a few different business lending services, such as commercial real estate financing and vendor financing. Before you apply, be sure to ask a customer representative about the approval requirements specific to each type of financing.
All this said, there are a few basic elements that your business need in order to get approved for a large amount of equipment financing, a good interest rate, and a favourable repayment term, including but not limited to:
When you apply for any kind of business financing with CORE Capital Group Inc., one of the most important approval requirements will be the state of your business credit. After all, good credit often signals that your business has healthy finances and a strong chance of making payments on time.
So, if your business currently has bad credit or a history of defaulting on its prior debts, it may be better to avoid applying until you’ve had a chance to resolve the situation. Otherwise, you may only be approved for a limited amount of financing and a high-interest rate, or your application could be denied altogether.
Similar to most types of business financing, applying for an equipment loan or leasing contract can be a more complicated process and involve more money than most traditional credit products. As such, you may need to present several personal and financial documents when you apply, including but not restricted to:
Keep in mind that the documents above are just some of the general requirements for equipment financing and leasing. Depending on what service you’re applying for and how much financing you would like to borrow, the CORE Capital Group credit committee may request other forms of documentation before they will approve your business.
If you’re not looking for an equipment loan or lease contract, don’t worry. There are plenty of other services that CORE Capital Group Inc. can help you with, such as:
Whether or not your business is on a tight budget, it’s always important to consider the costs that may be associated with your financing or leasing agreement. This way, you’ll never risk missing a payment, get behind on your work, or be left scrambling to find the appropriate funds.
Some of the main costs that you could encounter when you apply for equipment financing or leasing with CORE Capital Group Inc. relate to your:
When you apply for equipment financing, it’s possible that your equipment will be used as collateral to secure the loan. CORE Capital Group Inc. may also allow you to offer up other assets, such as real estate properties and vehicles. By providing loan security, you would be giving your lender an insurance policy in case you go into default.
While this can help you access more credit, a better interest rate, and a more appealing repayment plan, your lender will temporarily own your asset until you’ve paid them back in full. As such, they will have the right to seize your collateral if you miss on too many payments without discussing the situation with them.
No lender is without its benefits and drawbacks. While CORE Capital Group Inc. has many years of experience in the world of business lending, it’s still wise to weigh these pros and cons to make sure they don’t affect your business too much:
Frequently Asked Questions
What’s the difference between equipment financing and leasing?
What is my business credit score and why is it important for approval?
Loan Range | Rate & Terms | Product Details | Eligibility | Requirements & Documents | |
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Equipment Financing | - |
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Loans Canada is pleased to announce it placed No. 131 on the 2022 Report on Business ranking of Canada’s Top Growing Companies.
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