What an Equipment Finance Broker Does

The broker’s job in plain terms

An equipment finance broker is your guide, advocate, and deal architect. Instead of applying to a single lender and hoping for the best, you share your goals once, and the broker maps your file to the lenders and products most likely to approve you on terms that fit your cash flow. For Canadian SMEs—especially trucking, construction, manufacturing, hospitality, agriculture, and healthcare—this approach saves time, reduces declined applications, and often results in better structures than a one-size-fits-all bank offer.

At Mehmi Financial Group, we combine broker access with optional in-house financing and a deep bench of equipment-specific programs. We also sell equipment directly and maintain a current inventory, which can streamline pricing, inspections, and delivery.

How a broker moves your deal from idea to funded

Discovery & scope. A broker starts with goal, timing, budget, and ownership preferences—loan vs. lease vs. line. We align the asset (new/used, age, hours/kms), use case, and revenue impact with the right lending “box.” See Equipment Financing for the full menu.

File packaging. Strong files get faster approvals. A broker assembles invoices/quotes, equipment specs and serials, business details, bank statements, and a concise use-of-funds story. This reduces back-and-forth and protects your approval odds.

Lender matching. Each lender has niches (asset type, province, time-in-business, credit). The broker places your file where it will win, then pits offers against each other to improve terms.

Structuring & negotiation. Brokers tune the levers—term length, down payment or residual, amortization schedule, and any seasonal structures—to fit cash flow.

Coordination to funding. The broker manages vendor paperwork, inspections, lien searches, proof of insurance, and timing of delivery, then shepherds documents to funding day.

Post-funding support. Add-on equipment, term extensions, refinance, or end-of-term buyouts—your broker keeps you moving.

Products a broker can structure (and when to use them)

• Equipment Loans: Ownership from day one; fixed payments; interest & depreciation benefits. Best when you’ll keep the asset long-term.
  
  
• Equipment Leases: Lower monthly cost via residual/buyout; upgrade flexibility; often expensed. Best when cash flow or tech refresh cycles matter.
  
  
• Equipment Line of Credit: Pre-approved limit; draw per project; interest only on what you use. Ideal for contractors with rolling purchases.
  
  
• Refinancing & Sale-Leaseback: Unlock trapped equity in owned gear; keep using the asset while improving liquidity.
  
  
• Asset-Based Lending: Monetize equipment, inventory, or receivables to power growth alongside new gear purchases.
  
  

Want to visualize payments first? Model scenarios in our calculator (loan vs. lease, different terms, down payment vs. residual).

Broker vs. bank vs. vendor finance

What lenders actually look for (and how brokers prepare you)

• Time in business & credit signals. Startups can still fund with the right story, down payment, or collateral structure.
  
  
• Asset risk. Age, hours/kms, resale value, and market demand affect term length and pricing.
  
  
• Cash flow. Bank statements and contract pipeline matter. Seasonal businesses may need sculpted payments.
  
  
• Industry fit. Transport, construction, hospitality, manufacturing, agriculture, and healthcare all have program nuances. Explore: Transportation & Trucking, Construction & Contractors, Manufacturing & Wholesale, Hospitality & Food Service, Medical, Dental & Wellness, Farming & Agriculture.
  
  

A broker packages your file to address these points up front, reducing conditions and surprises.

How brokers are compensated (and why transparency matters)

Most brokers are compensated by the funding source when a deal closes. Sometimes an admin or broker fee is added and disclosed before you sign. The advantage for you: a broker’s incentives are aligned with approvals, speed, and fit. Always ask for a clear fee summary and amortization so you can compare apples to apples.

Timeline: what “fast” really looks like

With a clean file and chosen structure, 24–48-hour decisions are common. Used/specialty assets or complex corporate structures can add time for inspections or proofs. A broker keeps everything moving—coordinating the seller, insurance, PPSA searches, and funder documents—so delivery isn’t delayed.

Real-world example: expanding a regional fleet

Business: Mississauga-based carrier adding two highway tractors and a reefer trailer
Challenge: Bank required 25% down and 4–6 weeks; season’s peak window was two weeks away
Broker approach:

• Modeled payments in the calculator (loan vs. lease with 10% residual).
  
  
• Placed file with a transport-focused lender; used a lease to lower monthly cost and preserve cash.
  
  
• Added a small sale-leaseback on an owned day cab to boost working capital (refinancing & sale-leaseback).
  Outcome: Approved in 36 hours; equipment delivered in time to capture contracts; cash buffer intact for fuel and drivers.
  
  

Are you looking for a truck? Look at our used inventory.

How to choose the right broker

• Industry specialization. Ask about recent wins in your asset class and province.
  
  
• Breadth of lenders. More programs = higher approval odds and better fit.
  
  
• Clear math. Demand transparent amortization and total cost comparisons.
  
  
• End-to-end coordination. Funding stalls without tight vendor/insurer coordination.
  
  
• Ongoing support. Look for roadmap thinking: add-ons, buyouts, refinance, and seasonal restructures.
  
  

If you prefer simple next steps, start with our Equipment Loans or Equipment Line of Credit pages, or just contact our credit analysts and we’ll map the best path together.

FAQ: Equipment finance brokers in Canada

Do brokers only help if I’ve been declined by a bank?
No. Many clients start with a broker to compare banks, specialty lenders, and lease programs in one pass, then choose the best fit.

Can a startup get approved through a broker?
Often yes—by using the right product (e.g., lease), offering a down payment, or leveraging collateral via asset-based lending.

Is leasing always cheaper than a loan?
Not always. Leases can lower monthly payments using a residual/buyout; loans may minimize total cost if you’ll keep the asset. Run both in the calculator.

Can brokers finance used or private-sale equipment?
Yes. Brokers regularly place used and private-sale units, including inspections and lien checks.

What documents should I prepare?
Invoice/quote, equipment specs, business details, owner ID, 3–6 months bank statements, and a short note on how the asset earns revenue.

How fast can I get funded?
With a packaged file and straightforward asset, 24–48-hour decisions are common; closing depends on inspection, insurance, and paperwork readiness. Start here: Contact Us.

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Take the next step

If you need a clear, cash-flow-fit path to new or used equipment, we’ll package your file, shop multiple programs, and coordinate the close. Estimate payments with the calculator, compare loans and leases, or feel free to contact our credit analysts for a tailored quote within 24–48 hours.