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Equipment leasing
Business borrowing

Equipment leasing

Lease the equipment you need through our subsidiary, Prospera Equipment Finance.

Equip yourself with a tailored arrangement

Is your business growing? Do you need to replace dated equipment costing a fortune to maintain and operate? Do you want to work with a fully supported and funded business partner?

Lease the equipment you need through Prospera Equipment Finance.

At Prospera Equipment Finance we provide leases for all makes and models of equipment, across almost all industries and regions throughout Canada. When you lease equipment, you want a solution that’s tailored to your business needs.

As a subsidiary of Prospera Credit Union you are working with a business partner that has been operating in the industry for 20+ years, who is experienced at offering leasing solutions to businesses of all sizes.

Why lease your equipment?

Equipment continues to get more and more expensive. The average business can go into ‘budget shock’ just doing the math on new equipment acquisitions. A substantial down payment requirement coupled with high monthly payments can make traditional borrowing not economical.

Leasing allows you to get the equipment you need while reducing the impact on your company’s cash flow.


4 great reasons to lease:

  • Retain working capital with lower down payment requirements.
  • Have lower monthly payments with terms that better match the economic life of the equipment.
  • Pay taxes monthly on the lease payments versus the total up front.
  • Own your equipment at the end of the lease term with our nominal end of term residuals.
 
 
Equipment leasing

Our industries

Construction: Excavators, wheel loaders, crawler dozers, motor graders, skid steers, rock trucks, paving equipment, crushing equipment, concrete equipment, mobile cranes, directional drills, hydrovac trucks etc.

Transportation: Trailers of all types, local delivery, straight trucks, day-cabs, sleeper highway tractors etc.

Material Handling: Telehandlers, scissorlifts, forklifts. Trucks with mounted rigging: gravel, deck, cranes / pickers, tank, service / welding, roll-off, wreckers etc.

Manufacturing: CNC equipment, lathes, milling machines, plasma / laser tables, overhead cranes, injection molding, machine centers etc.
 

How we can help

  • Get pre-approved – equipment lease lines available.
  • Simple, fast, and easy to deal with.
  • Flexible terms and structures that match your business’ cash flow.
  • Competitive lease rates – we want to earn your business!
Fast turnaround
Customer-centric approach
Flexible options
Competitive rates
Owners can develop or enhance manufacturing plants.
Transparent decision- making

Dedicated equipment finance professionals

Our experienced and knowledgeable team are dedicated specialists in equipment financing. With in depth industry and equipment knowledge, we tailor the best financing solution for you. We lease new and used equipment. Equipment can be acquired via dealers, auctions, and private sales.

Peter Greenaway
British Columbia & Ontario


Peter.Greenaway@prospera.ca
604 209 6157

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Rob Parrotta
Alberta, Manitoba, Saskatchewan, & the Maritimes

Rob.Parrotta@prospera.ca
780 913 2626

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How does vehicle leasing work?

When you lease a vehicle, you can reduce the monthly cost of ownership and avoid having to pay a lot of money upfront. Through a lease, you pay the difference between the initial cost of the vehicle and the residual value of the car after an agreed upon amount of time. That difference is known as “depreciation”.

Explore other business borrowing solutions in BC

Commercial loan

Invest in your business’s growth without tying up working capital.

View details

Commercial line of credit

Be ready to seize business opportunities at a moment’s notice.


View details

Commercial mortgages

Compared to a loan or line of credit, mortgages generally allow you to borrow more money at a lower interest rate. 

View details

Letter of credit

Give suppliers Prospera’s promise that they will receive payment.

View details

Frequently asked questions

In order to properly register, license, and insure your equipment, a power of attorney may be required. This document permits you to act on behalf of Prospera Equipment Finance when establishing insurance and registration. If you require a Power of Attorney, please email leaseinsurance@propsera.ca or call us at 604-528-3802.
Lessees are responsible for placing and maintaining active insurance for all leased equipment.
Most equipment leasing contracts require that you prove that the leased equipment is insured. Your insurance company should provide you with a copy of the policy. If you do not have a copy of the policy, you must contact your insurance company to obtain a copy. This should then be emailed to leaseinsurance@prospera.ca. Be sure to include your name, lease number and a phone number at which you can be reached.
Lessees are responsible for equipment repair and maintenance. Lack of maintenance will erode the equipment’s equity.

Please refer to you lease agreement. If you cannot locate your lease agreement, please reach out to us by phone or email.

To request your lease number:

At lease end, lessees are responsible for paying out the remaining balance of the lease. Once paid out documentation facilitating ownership transfer will be provided.
When you update your bank accounts, we must add your new information to our records to ensure that your account does not go into arrears. Send a copy of a voided cheque (write “VOID” across the front of the cheque) for your new account by email to leasing@prospera.ca. Be sure to include your name, lease number and a phone number at which you can be reached. Note that it can take up to 5 business days to update our records.

Let's start with a conversation

To speak with one of our team members about your equipment leasing needs, please contact us:

Email: leasing@prospera.ca
Phone: 1 844 528 3802 

Apply Now

Equipment leasing is provided by Prospera Equipment Finance a business name of Mercado Capital Corporation, a subsidiary of Prospera Credit Union.