Computer Equipment Financing and Office Technology in Canada

Financing Solutions for IT and Office Equipment

The machines are only part of what a refresh costs, and four funding structures cover the rest.

• Equipment leasing covers the hardware without tying up capital, with the payment set against the years you expect to keep it.
• Equipment refinancing draws capital back out of equipment you already own outright.
• Working capital loans carry installation, data migration and the staff time a rollout takes.
• Factoring advances invoices already issued, so you can pay for the hardware before your clients pay you.

Our guide to leasing versus buying office equipment weighs the two routes.

What Computer and Office Equipment Can You Finance?

Hardware and the licences that go with it are eligible, new or refurbished:

• Desktops, laptops and workstations
• Servers, storage and backup hardware
• Monitors, docking stations and peripherals
• Point-of-sale terminals and payment hardware
• Printers, scanners and multifunction units
• Network hardware, switches and wireless access points
• UPS units and power protection
• Software licences
• Office furniture, desks and seating
• Conference-room and meeting equipment

Office equipment financing extends to the furniture around the hardware: desks, seating and boardroom tables. If what you are buying is not on this list, ask anyway: the eligible equipment page covers every sector we fund.

Financing by Type of Business

• Professional services firms equipping new hires
• Retail and hospitality running point-of-sale systems
• Clinics and offices replacing aging equipment
• Startups setting up a first office
• Companies refreshing hardware on a fixed cycle

Small businesses have the same options as larger companies, and keeping capital free matters just as much. Our complete guide to leasing for small business sets out where each route fits.

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New vs Used Computer Equipment

Refurbished hardware can qualify too.

1. Financing Used Computer and Office Equipment

Lenders look at the age of the units, their condition, the vendor behind them and what they would resell for. Used computer equipment financing moves at the same pace as a new hardware purchase, and a warranty from the refurbisher strengthens the file. Buying refurbished stretches the same budget across more desks, and it accounts for most of the requests we see on office hardware.

2. Buying Refurbished or from a Reseller

A certified refurbisher, an IT asset disposal firm and a manufacturer's outlet all issue a quote with serial numbers and a price. That is the document a lender works from. Used office equipment finance runs on that quote, whichever of the three issued it.

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Why Choose Fincap for Computer Equipment Financing?

An independent broker knows which lenders read a file like yours favourably.

• With over 30 lenders across Canada to draw on, a file that one lender turns down can go to another whose criteria it meets.
• Any brand qualifies, new or refurbished, from a distributor, a reseller or a private sale.
• The lender covers the sales tax at purchase, then spreads it across the term.
• A lease keeps the hardware off your debt position, so your bank borrowing room stays free for other projects.
• A startup, or an owner with past credit trouble, is reviewed rather than screened out, and our article on refinancing with bad credit covers how those files are read. Clients rate the service 4.9 out of 5 across 122 Google reviews.

Who Qualifies for Computer Equipment Financing?

Lenders read the company behind the purchase, not just its credit score.

Each lender weighs these differently, and how to present them is covered in our guide to what lenders look for in an application.

Documents Needed for Your Application

The vendor quote does most of the work here. The rest confirms who you are.

• The Fincap credit application
• Incorporation or business registration papers
• The vendor quote or reseller invoice, with serial numbers where they apply
• Three months of business bank statements
• Financial statements on requests above $150,000

There is no need to wait until everything is gathered: send what is ready, and we ask for the rest while the review is under way.

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How Computer Equipment Financing Works

The process runs in five steps, from the quote you send us to the day your vendor is paid.

Apply once: the file goes to the lenders whose criteria it fits. Start your application.

Typical Computer Equipment Financing Terms

Terms follow the working life you expect from the hardware, and the payment structure follows your cash flow.

What changes between the two is who owns the equipment once the term ends. Choosing to lease computer equipment keeps the payments on the expense side and hands you a decision when the term runs out. An equipment loan builds equity instead, which suits hardware you intend to keep past its warranty. Our comparison of leasing and financing sets out the trade-offs, and the equipment financing terms guide explains what sits behind each line above.

Upgrading Before the Equipment Falls Behind

Computers age faster than most business assets. A machine bought for a three-year cycle can no longer keep up with the work asked of it by year four, while a lathe or a truck is still earning.

That is the argument for a lease rather than a purchase in this category: at the end of the term you buy, return or move to newer hardware, rather than carrying machines you have outgrown. The term decides it: a shorter one lines up with a faster technology cycle; a longer one lowers the monthly payment. Match it to your refresh cycle, not to the longest one on offer.

Financing Software and Point of Sale Systems

Software licences and point-of-sale terminals go on the same file as the rest of the purchase. A workstation and the licences it needs are funded together rather than in two applications, and the same holds for backup hardware, UPS units and scanners.

Computer Equipment Financing Across Canada

IT equipment financing is available in all provinces and territories, and none of it requires a meeting. The application, the review and the funding are all handled remotely. These markets have their own pages:

• Equipment Financing in Ontario
• Equipment Financing in Calgary
• Equipment Financing in Edmonton
• Equipment Financing in Vancouver
• Equipment Financing in Winnipeg
• Equipment Financing in Saskatchewan

For IT Resellers and Office Equipment Dealers

A buyer who can spread a quote over monthly payments signs a larger order than one paying out of cash on hand.

Our vendor program adds that option to your quotes, and the credit review sits with our representatives and credit analysts rather than your sales staff.

Resellers who would rather extend terms for consumer requests can use merchant solutions instead.

FAQ About Computer Equipment Financing

Questions we field most often before a file comes in. For anything else, call 819-643-9997 or use the contact form.

1. What is the best way to finance a computer?

For a single machine, a line of credit is usually simpler. From a handful of workstations upward, computer equipment leasing keeps the cash in the business and puts the payment on the expense side. Our representatives and credit analysts run both against your numbers.

2. Can you get a PC and pay monthly?

Yes, on a business file. Consumer installment plans and business financing are not the same product: the second is assessed on the company, spreads over 24 to 84 months, and covers the licences and setup alongside the machine.

3. What are the requirements to qualify?

An active Canadian company, three months of bank statements and a vendor quote cover most files, and small businesses qualify on the same basis as larger ones. There is no published credit minimum. Years in operation, cash flow and the equipment itself all weigh in, and a short history is not an automatic no.

4. Can I finance used or refurbished computer equipment?

Yes, and it is the most common request we see on office hardware. Used IT equipment financing runs on the refurbisher's quote, with serial numbers and any warranty attached. Condition and resale value matter more than the year on the box.

5. Can I finance software and point of sale systems?

Yes, when they appear on the same quote as the hardware. Licences, POS terminals and payment hardware are funded with the workstations and tills they belong to, in one application. Software bundled into a hardware quote is the common case; a licence bought on its own is worth a call first.

6. Are computer equipment lease payments tax deductible?

Lease payments are commonly treated as an operating expense in Canada, one reason companies lease rather than buy hardware outright. Your own accountant is the one to confirm what applies to your structure. The principle is set out in our article on lease payments and tax.

7. Can I upgrade before the end of the term?

A lease is built so the end of the term is a decision point: buy, return or move to newer equipment. To bring that point forward, set a shorter term at the start. Hardware on a quick refresh cycle is usually written over fewer months. Moving earlier than the term allows is worth raising with your broker before you sign rather than after. Our article on how a lease is calculated shows how the term shapes the payment.

Calculate Your Monthly Payment

Enter an amount and a term in our equipment lease calculator to see an estimated monthly payment.