Frequently asked questions
Clear answers about equipment financing
Understand the process, limits and documents before committing to a commercial equipment purchase.
Sixteen common questions
What Canadian equipment buyers should know
What does Merrit Capital finance?
Merrit Capital considers revenue-producing commercial equipment, including construction machinery, trucks, trailers, agricultural, manufacturing, forestry, waste, hospitality, medical, dental and business technology assets.
Does Merrit Capital finance equipment across Canada?
Yes. Merrit Capital serves eligible Canadian businesses remotely and does not claim physical offices in every market.
Can used equipment be financed?
Yes. Age, hours or kilometres, condition, maintenance, market value, seller and the borrower’s profile influence the options.
Can equipment be purchased from a private seller?
Eligible private sales may be considered after ownership, liens, seller identity, condition, value and funding instructions are verified.
Can auction purchases be financed?
Some auction purchases may qualify. Seek a preliminary review before bidding, but final approval is tied to the actual asset and winning price.
Can startups or newer businesses apply?
They may apply. Industry experience, credit, equity, cash reserves, business plan and a reasonable asset request become especially important.
Is a down payment always required?
No single rule applies to every transaction. Equity requirements depend on the borrower, asset, price, lender and structure.
What affects the available financing term?
Asset type, age, useful life, condition, marketability, borrower and lender program all influence term.
Can seasonal payments be arranged?
Some qualifying transactions may have seasonal or other structured payment options. They are lender-specific and not guaranteed.
Can attachments, upfits or installation be included?
Durable attachments, permanent upfits and some directly related costs may be eligible when itemized. Soft costs and services are lender-specific.
Does Merrit Capital provide equipment inspections?
No. Credit approval or asset acceptance is not an inspection, appraisal, warranty or confirmation of suitability.
Does Merrit Capital provide tax or legal advice?
No. Review final financing, lease, tax, accounting and legal implications with qualified independent advisors.
What documents are needed to apply?
Start with the equipment quote or listing, seller, price, business name, time in business, intended use and delivery deadline. Additional credit and financial information depends on the request.
How should sensitive personal information be sent?
Do not email SIN, date of birth or detailed personal financial information by ordinary email without current submission instructions from Merrit Capital.
How long does approval or funding take?
Timing depends on the borrower, asset, seller, lender and completeness of documents. Merrit Capital does not promise a specific decision or funding time on this website.
Does Merrit Capital guarantee approval or rates?
No. All transactions are subject to lender credit approval, asset acceptance, pricing and standard documentation.
Still have a question about your transaction?
Tell Merrit Capital what you are buying, the approximate amount, the seller and the timing. We will explain the next information needed—without promising an outcome before the transaction is reviewed.