Your bank may know your account, but its general commercial process may not capture why an older truck with a rebuilt engine can still produce dependable revenue. It may also take too long to assess a time-sensitive equipment purchase.
Choosing Mehmi Financial Group over a traditional bank can make sense when you need an equipment-focused review, flexible structure or faster decision. Mehmi assesses the asset, cash flow, business history and credit story together, then explains what is realistic before any hard credit check.
Mehmi Financial Group may be a better fit than a traditional bank when speed, equipment knowledge, credit flexibility or deal structure matters more than having one standard bank loan. A bank may still be the stronger choice for an established borrower that qualifies for low-cost financing and has time for its approval process.
Mehmi’s process is designed around a specific commercial asset and transaction. A complete file can move from initial assessment to credit, documents and funding without being treated like a general-purpose business loan.
The review starts with the equipment quote, seller, intended use and requested structure. Straightforward files can move quickly, while private sales, older assets and larger transactions take longer because ownership, value and cash flow require more verification.
Mehmi advertises Canada-wide approvals in 24–48 hours for many straightforward equipment financing applications. (Mehmi Financial Group)
Mehmi reviews the business, borrower, asset and repayment plan together. FICO still matters, but so do Equifax Business or PayNet history, bank-statement conduct, time in business, personal net worth, equipment age and how the purchase will produce revenue.
A strong file explains what the company does, who pays it, whether the asset is an addition or replacement and how the payment will be covered in a slower month. This equipment-first review can create options for a sound business that does not fit a standard bank policy, but it does not guarantee approval.
Mehmi can compare several structures instead of forcing every purchase into one term loan. Through equipment financing and leasing, a business may consider a capital lease, operating lease, equipment finance agreement, $1 buyout, FMV structure or TRAC lease.
Other options include refinancing and sale-leasebacks, commercial repair financing, factoring, working capital and vendor programs. A traditional bank may offer some of these products, but not always through one equipment-focused process.
Yes, some younger and challenged-credit businesses can be considered case by case. A start-up file is stronger with a work letter or contract, three months of bank statements, two years of relevant experience and a reasonable cash contribution.
Past credit problems should be explained with dates, causes and evidence of better recent conduct. CRA Notices of Assessment, a personal net worth statement or additional down payment may also help; a bank decline is not an automatic Mehmi approval.
Read alternatives to bank equipment financing in Canada when a decline has already happened.
Yes, especially for used, specialized and private-sale equipment. In transportation and trucking, kilometres, engine work, carrier contracts and whether the unit replaces or adds capacity can affect the structure.
For construction contractors, hours, attachments, condition and resale demand matter. A private sale also requires proof of ownership, seller identification and a satisfactory PPSA review—or an RDPRM search in Quebec.
Consider two composite files. A Brampton owner-operator with a new corporation may rely on prior driving experience, a carrier work letter and bank statements; a Calgary contractor buying a used excavator may need seller identification, a lien review and an inspection before funding.
A bank may be better when your company is established, profitable and eligible for attractive relationship pricing. Banks can work well when you have strong financial statements, substantial collateral, no urgent vendor deadline and a commercial account manager who already understands the business. (BDC.ca)
Canadian small businesses still need to compare conditions carefully. Innovation, Science and Economic Development Canada reports that 36% requested external financing in 2024, while 66% of debt-financing borrowers had to pledge collateral. (ISED Canada)
BDC notes that buying is usually cheaper over an asset’s full life, while leasing generally requires less cash upfront and puts less strain on cash flow. That is why the best choice depends on total cost and liquidity—not speed alone. (BDC.ca)
Compare the complete obligation, not one rate or payment.
Use the loan-versus-lease comparison calculator to test both structures at the same equipment price and term. It compares payments, down payments, interest, residuals and total cost; results are estimates, not an approval. (Mehmi Financial Group)
No. Mehmi is a Canadian equipment and business financing company. It assesses the transaction, helps identify a suitable structure and manages the file through credit, documentation and funding. The process can consider the asset and operating story more directly than a general-purpose bank application.
No. A strong, established borrower may receive a lower-cost offer from its bank. Mehmi’s value is often speed, structure, equipment knowledge and programs for files that do not fit a standard bank box. Compare total cost; all terms are subject to credit approval and current market conditions.
The file is assessed before any hard credit check. A formal inquiry may still be required after the transaction appears viable and the applicant gives consent. Prepare a current equipment quote, company information and a clear reason for the purchase so the initial review is useful.
Possibly. First identify whether the bank declined the file because of credit, cash flow, time in business, asset age, collateral or missing documents. Mehmi can assess whether a different structure or stronger package addresses the issue, but approval is never automatic.
Choose the option that fits the asset, cash flow and deadline—not the logo on the proposal.
Gather the equipment quote, recent bank statements and a one-paragraph explanation of how the asset will earn or save money.
Call (437) 777-5901 or submit the file through Mehmi Financial Group’s contact page for an initial assessment before any hard credit check.
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