Commercial equipment financing across Canada

Equipment financing resource

Equipment financing application checklist

A complete first submission gives the lender a clearer transaction and reduces avoidable back-and-forth. Requirements vary, but the following information is a practical starting point for most commercial equipment requests.

Practical Canadian guideAnswer-first informationUpdated 2026
Business owner inspecting and documenting commercial equipment

1. Identify the equipment

Provide make, model, year, serial number if available, hours or kilometres, purchase price, taxes, attachments, condition and intended business use.

Attach the dealer quote, auction listing or proposed bill of sale. For used equipment, include recent photos and any inspection or maintenance information.

2. Identify the seller and deadline

Provide the seller’s legal name, contact information and purchase location. State whether it is a dealer, private sale, auction or cross-border transaction.

Tell Merrit Capital about deposits, auction dates, delivery windows and any conditions before money is committed.

3. Explain the business request

Start with the legal business name, operating name, ownership, time in business, location, industry and what the equipment will do. Explain whether it replaces an asset, adds capacity or supports a defined contract.

Financial statements, bank information, tax filings or personal information may be requested depending on the transaction. Use the approved secure process and do not email highly sensitive personal data unless Merrit Capital has given appropriate submission instructions.

Key points to carry into the transaction

  • Equipment quote or bill of sale
  • Make, model, year and serial number
  • Hours, kilometres and condition
  • Seller and delivery deadline
  • Business ownership and operating history
  • Clear reason for the purchase
Informational only. This guide is not a financing commitment or tax, legal, accounting, mechanical or professional advice.

Questions about this topic

Frequently asked questions

Do all applications need financial statements?

No. Requirements depend on transaction size, business history, asset and lender.

Should I send a SIN by ordinary email?

No. Contact Merrit Capital for appropriate submission instructions for sensitive personal information.

Can I apply before choosing the exact equipment?

A preliminary discussion may be possible, but final approval requires the actual asset and price.

What if the seller is private?

Expect additional ownership, lien, condition and value documentation.

Does a complete package guarantee approval?

No. It helps the review but does not change lender credit requirements.

Apply the guide to a real equipment 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.