In today's competitive landscape, having the right tools is essential for operational efficiency and growth. Coast Capital Savings offers specialized equipment financing and leasing solutions designed to help Canadian businesses acquire assets without depleting their liquid cash reserves. Whether you are a startup looking for your first vocational truck or an established firm upgrading manufacturing machinery, these tailored financial proposals allow you to preserve working capital while benefiting from the latest technology.
Coast Capital’s equipment finance offers stand out due to their flexibility, with financing starting at $35,000 and terms extending up to 96 months. By choosing between lease and loan structures, business owners can align their repayment schedules with seasonal cash flow or specific tax strategies. Understanding the digital application process and how to troubleshoot the online portal ensures your business can secure the necessary equipment quickly to meet new contract demands.
Coast Capital Equipment Finance Overview
| Category | Details |
|---|---|
| Minimum Financing | $35,000 (Custom solutions for smaller amounts) |
| Flexible Terms | 18 to 96 months |
| Eligible Assets | Construction, Transportation, Manufacturing, Aircraft, and more |
| Structure Options | Leases, Loans, and Sale-Leaseback transactions |
How to Apply for Equipment Financing Online
Follow these exact steps to initiate your equipment finance application through the Coast Capital digital portal:
- Navigate to the Coast Capital Savings website and select the Business tab, then Lending & Financing.
- Click on Business Equipment Financing and locate the Apply Online button.
- Ensure you meet the basic criteria: You must be 19+, not have declared bankruptcy in the last 7 years, and be applying for at least $35,000.
- Enter your Legal Business Name, address, years in business, and your approximate annual revenue.
- Provide details regarding the equipment you wish to acquire, including a quote or invoice from your chosen supplier.
- Submit the form; a dedicated business advisor will typically reach out within one business day to discuss terms and finalize the approval.
Troubleshooting the Application Portal
Applicants occasionally run into technical hurdles when submitting high-value financing requests. Here is how to resolve the top three digital roadblocks:
- Multi-Factor Authentication (MFA) Delays: When creating your business profile or signing digital documents, the system will send a 2-Step Verification code. If the SMS is delayed, do not click "resend" immediately. Wait 60 seconds or check your registered business email for the code to avoid a session timeout.
- Browser Upload Errors: The application requires uploading large PDF documents such as financial statements or equipment quotes. If the upload fails, disable strict privacy ad-blockers, clear your browser cache, and ensure the file size is under 5MB per document.
- Locked ID: If you enter your digital banking credentials incorrectly while attempting to link your accounts for revenue verification, your Username may lock. If this occurs, you cannot complete the online application; you must call the Business Lending Team at 1-877-293-0202 to verify your identity.
Pro-Tip: To improve your cash flow immediately, ask about a Sale and Leaseback offer. This efficiency hack allows Coast Capital to purchase equipment you already own and lease it back to you. This injects a lump sum of tax-free cash back into your business balance sheet, which you can then use for payroll, expansion, or emergency operating expenses while still maintaining full use of your equipment.
Frequently Asked Questions
Do I need to be a Coast Capital member to get equipment financing?
No. You do not need to be an existing member or hold a business chequing account at Coast Capital to apply for equipment financing. However, becoming a member after approval can often provide you with lower everyday banking fees and integrated wealth management advice.
Can Coast Capital finance used equipment?
Yes. Coast Capital provides financing for both new and used equipment. For used assets, they can facilitate private sales or dealership purchases, though additional inspections or appraisals may be required to verify the asset's market value before the final loan or lease is funded.
