Why Lease Equipment? The Real Answer (Not the Tax Brochure Version)

Posted on May 19, 2026 by Frank Penkala

You’ve heard the pitch: “Lease your equipment for tax benefits!” And yes, that’s true — when you lease through your company, the entire monthly payment is a deductible rental expense. With a bank loan, you only deduct interest and depreciation. Tax savings are real.

But here’s what the brochures don’t tell you: The tax benefit is nice. The cash flow benefit is everything.

Let me explain.

The Bank Will Beat Us on Rate (And We’re Fine With That)

If you walk into a bank with perfect credit, strong financials, and collateral to pledge, they’ll offer you a secured loan at a lower APR than our lease rate. That’s a fact.

So why do thousands of Canadian businesses lease with us instead?

Because total cost isn’t just about interest rate. It’s about:

  • How much cash you need upfront
  • How fast you can get approved
  • What assets you have to pledge
  • How much flexibility you have to grow

Banks offer low rates. But they also require:

  • 20-30% down payment
  • Personal guarantees
  • General security agreements (GSAs) that tie up all your company assets
  • Monthly financial reporting
  • Restrictive covenants (debt ratios, minimum cash balances, etc.)
  • 30-60 day approval timelines

Leasing offers something different: speed, flexibility, and preserved cash flow.

Cash Flow Is King (And You Can’t Invoice With an Empty Bank Account)

Here’s the reality: A business without cash is a business without options.

You can have $500,000 in receivables, a full order book, and a profitable P&L — but if you don’t have $30,000 in the bank to cover payroll next week, you’re in trouble.

Leasing preserves cash flow in three ways:

1. Lower (or Zero) Down Payment

  • Bank loan: 20-30% down ($40,000 down on a $150,000 excavator)
  • Lease-to-own: $0-10% down (often $0)

That $40,000 stays in your operating account for payroll, materials, fuel, insurance, and emergencies.

2. Lower Monthly Payments (If You Want Them)

Leases can be structured with residual values (deferred principal) to lower monthly payments. A $150,000 excavator might cost:

  • Bank loan (5 years): $2,800/month
  • Lease-to-own (5 years, 10% residual): $2,400/month

That extra $400/month adds up to $24,000 over 5 years — cash you can reinvest in growth.

3. Fixed Payments, Fixed Terms, No Surprises

Bank loans often have variable rates tied to prime. Your payment can increase if rates rise. Leases are fixed-rate, fixed-term. You know exactly what you’ll pay every month for the entire term.

Speed Matters (Especially When You Find the Right Deal)

You find a used excavator on Kijiji. Perfect condition, fair price, seller wants a decision in 24 hours.

Bank timeline:

  • Submit application → 5-7 days for credit review
  • Provide financials, tax returns, equipment details → another 7-10 days
  • Appraisal, collateral review, legal docs → another 10-14 days
  • Total: 30-45 days

By the time the bank approves you, the excavator is sold.

LeaseDirect timeline:

  • Call us with equipment details → credit pre-approval in 5 minutes
  • Send VIN/serial number, photos, seller info → final terms in 24 hours
  • Funding: in 2 to 3 days

You get the equipment. Your competitor doesn’t.

We Don’t Tie Up Your Other Assets

When you get a bank loan, you typically sign a General Security Agreement (GSA) that gives the bank a claim on all your company assets — not just the equipment you’re financing.

This means:

  • Your receivables are encumbered
  • Your inventory is encumbered
  • Your other equipment is encumbered
  • Future growth financing is restricted

With a lease, the only collateral is the equipment itself. Your other assets stay free and clear. You can still get a line of credit, factor receivables, or finance other equipment without conflict.

Leasing Is for Growth Companies (And Credit-Challenged Ones)

Early-stage companies often can’t get bank financing. You don’t have 2 years of financials, you don’t have assets to pledge, and your cash flow is inconsistent. Banks say no.

Leasing companies look at the equipment’s ability to generate revenue, not just your balance sheet. If the equipment makes your business money, we’ll finance it.

Credit-challenged companies face the same issue. One bad year, a bankruptcy in your past, or a consumer proposal on your credit report — banks close the door.

We don’t. We work with credit scores from 575 to 800+. We have programs for startups, rebuilding businesses, and companies banks won’t touch.

The Tax Benefit Is Real (But It’s Not the Main Reason)

Yes, leasing offers tax advantages:

  • 100% of your lease payment is deductible as a rental expense
  • Sales tax is deferred over the lease term (you pay it monthly, not upfront)
  • No depreciation schedules to manage (CRA treats it as an operating expense)

For a business in a 25% tax bracket, a $2,000/month lease payment saves you $500/month in taxes. That’s $6,000/year, $30,000 over 5 years.

But the real benefit is cash flow. The tax savings are a bonus.

When Does a Bank Loan Make Sense?

I’ll be honest: If you have perfect credit, strong cash reserves, and time to wait, a bank loan might be cheaper.

A bank loan makes sense when:

  • You have 20-30% down payment available
  • You don’t need the equipment urgently
  • You’re okay with GSAs and personal guarantees
  • You have strong financials and can meet bank covenants
  • You’re financing new equipment from an authorized dealer

But most Canadian businesses don’t fit that profile. Most need:

  • Fast approval
  • Low or zero down payment
  • Flexibility to finance used equipment or private sales
  • Freedom to grow without restrictive covenants

That’s where leasing wins.

The Bottom Line

Leasing isn’t about getting the lowest interest rate. It’s about getting the equipment you need, when you need it, without draining your cash reserves or tying up your assets.

It’s about:

  • Speed (72 hours vs. 30-45 days)
  • Flexibility (used equipment, private sales, credit challenges)
  • Cash flow (low/no down payment, fixed terms, preserved liquidity)
  • Freedom (no GSAs, no restrictive covenants, no encumbered assets)

The tax benefits? Those are real too. But they’re the cherry on top, not the cake.

Ready to Lease Equipment?

The LeaseDirect Canada Team: Darren, Victoria, Frank

The LeaseDirect Canada Team: Darren, Victoria, Frank

 

Call LeaseDirect and talk to a specialist:

Frank Penkala — Founder & President, all industries
888 701 5877 | frank@leasedirect.ca

Darren Turner — Trucks, trailers, construction equipment
888 470 8650 | darren@leasedirect.ca

Victoria Seidel — Arborist equipment, forestry gear
403 471 4168 | victoria@leasedirect.ca

Or complete, sign, and send our 5-minute application and we’ll call you (usually within minutes).

Drop a note back if you would rather not receive these posts. We don’t want to be a nuisance. Thanks.

 

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5 Reasons Banks Decline Good Businesses (And What LeaseDirect Does Differently)

Posted on May 16, 2026 by Frank Penkala

You have good credit. Steady revenue. A solid business plan. The bank still says no.

It’s not you. It’s the box.

Banks operate inside rigid lending criteria that haven’t adapted to how modern small businesses actually work. Here are the 5 most common reasons creditworthy Canadian businesses get declined — and how lease-to-own financing solves each one.

1. You Want Used Equipment (Banks Want New)
Why banks say no:
Most traditional lenders won’t finance equipment older than 3-5 years. They see used gear as higher risk, harder to value, and difficult to resell if you default.

What a lease-to-own program does differently:
LeaseDirect specializes in used equipment financing. We love the stuff. When you can make good used gear work, you see better cash flow and higher returns. Let someone else pay for the steep depreciation on new equipment — your savings improve business profitability.

We’ve financed 15-year-old excavators, high-mileage trucks, and refurbished machinery that banks wouldn’t touch. If it works and generates revenue, we’ll finance it.

2. You’re Self-Employed or Incorporated Less Than 2 Years
Why banks say no:
Banks want 2+ years of audited financials, corporate tax returns, and a long credit history under your business name. If you’re a sole proprietor, new incorporation, or operating under 24 months, you don’t fit the template.

How the LeaseDirect lease-to-own program sees things differently:
We look at the full picture: your personal credit history, industry experience, contract pipeline, and equipment ROI. One phone conversation and a credit application can get you pre-approved in minutes.

Darren Turner, our Truck Leasing Specialist, has helped dozens of owner-operators launch their first rig with less than 6 months in business. Victoria Seidel has financed arborist startups that traditional lenders wouldn’t even meet with.

3. Your Debt-to-Income Ratio Is “Too High” (Even Though You’re Profitable)
Why banks say no:
Banks use fixed debt-service ratios. If your existing loans, lease payments, or line of credit push you past their threshold (usually 40-44% debt-to-income), they decline — even if your business is growing and profitable.

What our lease-to-own option provides:
We price to risk. Higher leverage? We adjust terms, structure payments around your cash flow, or use a larger first payment to reduce monthly obligations. We don’t reject you because a spreadsheet says so.

Nearly 4 in 10 small businesses that apply for traditional financing get turned down (Business Development Bank of Canada). Most of them are profitable — they just don’t fit the bank’s formula.

4. The Equipment Doesn’t Fit Their “Approved Categories”
Why banks say no:
Banks have pre-approved equipment lists: standard trucks, common construction machinery, mainstream brands. If you need specialized gear — a stump grinder, a niche forestry attachment, a custom-built trailer — they won’t finance it because they can’t easily resell it.

What the LeaseDirect lease-to-own program considers:
We finance what makes your business money, not what’s easy for us to liquidate. Arborist equipment, specialty trucks, older heavy machinery, regional brands — if it generates revenue and you have the credit capability, we’ll structure a lease. We’ve financed custom forestry attachments, specialized arborist chippers, and regional truck brands that banks flagged as ‘non-standard collateral.’

5. You Need Financing Fast (Banks Need Weeks)
Why banks say no:
Traditional equipment loans take 2-6 weeks to process: credit committee approvals, appraisals, legal reviews, collateral registration. By the time they say yes, the equipment is sold or the contract opportunity is gone.

How LeaseDirect does it differently:
Initial credit approval in one phone call. Final terms within 48 hours of receiving your application and equipment details. Many clients get pre-approved within 5 minutes of submitting their credit app.

In 2010, Chris needed a used Hitachi excavator to keep his contracts alive during the recession. Every bank said no. LeaseDirect said yes in 48 hours. Today, his company operates 12 pieces of heavy equipment — 8 financed through us.

The Bottom Line
Good credit doesn’t guarantee bank approval. But it does qualify you for lease-to-own financing.

LeaseDirect has over a dozen specialized programs to accommodate diverse credit capabilities. We work with beacon scores over 600, finance used equipment nationwide, and structure terms around your business reality — not a rigid lending template.

Ready to see what you qualify for?
Call 1-888-701-5877 or visit leasedirect.ca. One conversation, real answers.

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Leasing a Vehicle For Your Business. You Find It, We Lease It. Source From Dealer, Auction or Private Sale.

Posted on February 27, 2026 by Frank Penkala

Prefer to by-pass the dealership business office? Need to keep your information confidential and salesmen out of your business affairs? Found a great deal on a trailer through a private seller on Kijiji or AutoTrader? Have you picked up a quality late model vehicle at auction? We can provide you with financing right now.

LeaseDirect offers an easy process for leasing a vehicle for your business, whether you need to acquire a truck, trailer, van or car. You can source through private sales, or an auction, or work with your local dealer. The choice is yours.

Our leases are ‘Open’, so there are no specific mileage, maintenance or modification restrictions. In exchange, you are responsible for the residual value at lease expiry. You have the option to lower the residual value on the contract, which is a good idea if you know this will be a high mileage vehicle.

Note that our business vehicle leasing program as described is for “A to A-” credit. We have alternative financing options if there are any issues.

If you are acquiring from a private seller, please invest in a CarProof report. Imported and previously damaged vehicles are much harder to get approved.

For private sale acquisitions, we purchase the vehicle from the current owner, then lease to you. Just forward to us the current registration showing the ownership portion. This confirms the seller’s title for us and also the address and VIN#. Private sales can be a bit tricky as we need a few days to process and sellers are typically anxious and suspicious. We courier a cheque or direct deposit directly to the seller asap, but it does take 2-3 days once we have the contract with you in place.

Depending on your compensation structure, you may be fine to start your venture as a proprietorship, which is less expensive to register. Leasing works best when used to offset high taxable income. Perhaps check with your accountant for more guidance on structure and vehicle leasing deduction limits.

Applications are available here, if you want to get started. Please complete and sign and send back, along with your 2022 and 2023 CRA Notices of Assessment (corporate and/or personal). We can have you pre-approved on a sample vehicle (to your specs) and then adjust when you find the unit you like.

email: frank@leasedirect.ca

fax: 1-888-398-2236

tel: 1-403-701-5877

LeaseDirect Canada Corporation is a member of the Canadian Finance & Leasing Association (CFLA), and the Alberta Motor Vehicle Industry Council (AMVIC).

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Business Development Partners Wanted: Consider the Equipment Leasing Industry!

Posted on January 18, 2026 by Frank Penkala

LeaseDirect is seeking partner track sales and business development people across Canada. Candidates will have some level of sales, business development and financial services experience and training.

Perhaps your past career life was as a banker, accountant, financial analyst, or business broker. Maybe you are simply a quick study in people and the sales process. Possibly a return to the struggles in corporate culture is no longer attractive to you. Is it time to be part of a consulting team, working independently without flying solo?

If this sounds like your situation, consider putting on your consulting hat and go have a listen to what our customers really need. With a bit of training, you will find it relatively easy to filter out who fits the equipment leasing model and who should just go to the bank.

We will teach you to ask the right questions. LeaseDirect believes in being up front with what we can reasonably offer, and we are quick to point rate shoppers and tire-kickers in a more appropriate direction (they always appreciate the honesty and you won’t spin your wheels). That said, our lease structures and resulting payment streams are often very competitive with bank offerings, considering our lower down payment requirements, potential residuals and more flexible credit terms.

To summarize, LeaseDirect offers competitive lease financing structures to growing companies for potential tax advantages. We do it in a timely manner that is efficient for the customer, with minimal hassle. We promote diversity in financing options for business, ensuring that our clients understand where leasing fits within their borrowing portfolio, i.e. use: 1) banks for operating lines 2) credit cards for short term expenses 3) factoring for cash flow 4) leasing to finance revenue generating / supporting equipment.

Keep us in mind please if you are a seasoned individual who may be interested in working within an established brokerage brand and funder network. We are looking for partners — not employees or agents — who can provide consulting services in regional markets across Canada. Join us. Drop a note. Or call Frank at 403-701-5877.

We believe that a better way to work is emerging. Check out Chuck Blakeman’s TedX talk.

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LeaseDirect Canada Teams up with Turner Racing

Posted on February 16, 2025 by Kathy Henderson

by Kathy Henderson, Marketing Specialist

LeaseDirect Canada is a very proud sponsor of Turner Racing’s most recent Late Model Stock Car!

LeaseDirect Canada’s involvement with Turner Racing is a great fit, as we know the demographic of the other competitors, and fans of stock car racing are very well aligned with typical LeaseDirect clients.

Racing enthusiasts are often small to medium sized business owners who require access to professional, practical, and flexible finance options for the equipment they need to run their own business successfully.

LeaseDirect wants people to know that they provide access to financing programs not only for brand new equipment direct from manufacturer or dealer, but also for used equipment and vehicles being sold privately, or at auction. Private sale financing is a specialty area that LeaseDirect has a lot of experience around. Involvement in racing is a great way to spread the word.

Turner Racing was established over twenty years ago by LeaseDirect’s very own Darren Turner, and his long time friend and crew chief, Roy Cobden. Preliminary break-in and testing of their most recent car is complete as of October 2024, and preparations continue for a very exciting 2025 racing season for the number 45 and the whole team.

I caught up with Darren this week and had a couple questions for him about this exciting endeavour. 

Q: Darren, When and why did Turner racing materialize? 

A: In general it was just a love of cars, competition and the desire to be part of it. Meeting Roy Cobden in the early 90’s accelerated our learning curve and we moved up several divisions over a relatively short period of time.

Q: What efforts were required to prepare the Chevrolet powered stock car for its revived racing career? 

A: It had been sitting for many years so we basically took it right apart, inspected virtually every component, installed the modern engine package etc. It was always a great car, it just needed some updating in a few safety areas along with modernizing around current rules.

Q: Can you tell me a little about the series the 45 Chevy will be participating in? 

A: We will run primarily in the Late Model division at Penticton Speedway. The track has been upgraded and modernized as well over the past few years. We also hope to run some WESCAR sanctioned races throughout BC, and possibly some special invitationals in Western Canada and the US. Late Models (racing term for purpose built, tube frame cars with composite bodies and V8 engines) are the fastest full-bodied oval track cars that are raced in this part of the world.

Q: What Role can or does a sponsor play for a race team?

A: Along with some of the much needed funds that it takes to put a car on the track, a sponsor also provides an identity for the team, and consultation around mutually beneficial events to take part in away from the track. Coordinating event participation that promotes both parties as well as the relationship itself are critical.

Darren Turner, Commercial Equipment Finance Manager, LeaseDirect Canada Corp.,
and Driver & Partner in Turner Racing


Stay tuned, race fans! 

For assistance in funding your business venture anywhere in Canada, please reach out to Darren Turner, construction and transportation leasing specialist at 888-470-8650, email darren@leasedirect.ca

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Is It Time to Consider Joining the Construction Industry?

Posted on January 26, 2024 by Kathy Henderson

The construction industry was challenged in 2023, no doubt about it. We haven’t seen interest rates like these since the mid 1990’s. This has made not only financing goods, but simply being approved for financing a challenge for some people or businesses. Raw materials costs rose exponentially last year, particularly near the end of summer. This caused final prices for finished goods (and subsequently, services) to follow suit. These increased interest rates, coupled with raw materials costs rising, gave some small businesses no choice but to adjust their project and product pricing accordingly. Wages for construction workers, who businesses are having a harder and harder time finding, are also increasing steadily. In short, things were tough for many in 2023.

Whether the Bank of Canada likes it or not, infrastructure in Canada is ever growing, and ever changing. The very home you are living in has either been recently built, recently renovated in some way, or you are taking a look around after reading those last 17 words and your wheels have started turning. Your next thought however, is likely the costs involved in all of your big plans. Everything in the first paragraph means the cost to renovate that 40 year old kitchen you are looking at right now will be just too high. 

Right?

Not quite.

There is good news. Have you ever heard the quote, If winter comes, can Spring be far behind? Percy Bysshe Shelley couldn’t be more right. As winter comes to a (hopefully abrupt) end, our construction industry is slated to rebound in the Spring of 2024. As annoying as these rising interest rates have been, they did ease demand long enough to take much needed pressure off supply chains. This means there will soon be enough product to go around, thus prices will start to stabilize. Moreover, we have seen interest rates held by the Bank of Canada 4 times in a row. 

So what does this mean for You? This truly depends on who this blog has reached. 

If you are, in fact, looking at your kitchen right now dreaming of updates and colour palates, this is your cue to reach out to your local contractor sooner rather than later to get their opinion on things, because he’s about to get busy. 

If you are feeling the pinch, as many have in these difficult financial times, this may be your call to action. There is a need. No matter what happens in the world, construction is an everlasting, ever-changing, and ever growing need. With innumerable sectors and niches, you are a simple phone call away from those first steps to joining an industry that is invaluable, and slated for incredible success in the year to come. 

For assistance in funding your construction venture, please reach out to Darren Turner, our construction and transportation Leasing Specialist at 888-470-8650, email darren@leasedirect.ca

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Creating Efficiencies: Smart Leasing of New and Used Equipment and Vehicles

Posted on December 2, 2014 by Frank Penkala

Some of our most successful clients have built their businesses with a smart approach to acquiring assets that are aimed at improving operating efficiencies. With the right equipment, often a business will improve their processes enough to cover the cost of the leased equipment while also saving time and effort in the delivery of their services.

Some examples:

A siding contractor acquired a Bandit wood chipper to process waste panels into recyclable sized chips. This reduced his waste bin removal and dumping charges by multiple factors while also keeping the worksite tidy.

Including a dump box on a medium duty truck allowed a landscaper to haul smaller loads of top soil, gravel and mulch to residential projects without incurring extra expense to bring in full loads by dump truck on contract.

A start-up flooring contractor acquired good used equipment through a private sale instead of purchasing new (at three times the price).

An established floor covering sales company expanded into refurbishing old floors by acquiring new floor finishing machinery. The new service offering opens the door to future sales of carpets, lino and wood flooring.

Adding a narrow skid steer to their fleet allowed a landscaper to move soil and mulch into clients’ back yards without removing fencing or gates, cutting down the time to finish most smaller jobs. This also worked well in new residential areas where the houses are very close together… (hauling sod & fencing).

Good used pickup and utility trucks are available at substantially lower prices than new units. Cost conscious general contractors, carpenters, plumbers and electricians have saved a bundle. We have financed a variety of privately acquired, wholesale, auction, and dealer supplied used units with very reasonable monthly payments. There are no specific age limits to the used equipment and vehicles you could lease, though there are price points at 5 years and 10 years old.

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Refinancing Equipment: Sale Leaseback Financing for Vehicles and Equipment to Get Cash Out Of Fixed Assets

Posted on November 18, 2014 by Frank Penkala

Your growing company needs a cash injection *fast*, the bank is dragging its heals and a lucrative opportunity may be slipping away. What to do?

Use the valuable equipment already in your business to extract cash to grow your company. Whether machine tools, construction equipment, yellow iron, or specialty machinery, we can leverage the value of used items to provide funds when you need them.

Likewise, if you own your late model car, light truck or van, and it is used for business purposes, consider rolling it into your company and extracting most of its value through a new lease. Essentially, you will be selling us your vehicle and leasing it back from us over a fixed term, at a fixed payment and a set residual value, and the new payments would come from your company account.

Suddenly, you are making your payments on a before tax basis. Mmmm…

To clarify, you may own the vehicle personally, or perhaps it is already owned by the company. It may even have other financing in place (we’ll pay it out for you). It really doesn’t matter to us as long as the vehicle is less than 5 years old, and mileage is under 80,000 kms. We will structure a new lease for you, perhaps with a longer term, higher residual and a lower payment than you even imagined was possible. We will pay you within 2-3 business days from receipt of updated insurance confirmation and registration.

There is no catch, but there is some paperwork involved. To verify your ownership, or title to the equipment, we need a copy of the current registration (or original invoice), and, if your company does not yet have an active commercial credit bureau we may need to review your company financial statements. Also, given this is a somewhat riskier way for us to build our leasing portfolio, your credit history is an important factor in getting the transaction approved on our best terms.

On the other hand, even if your credit or the age of the vehicle are at issue, we may *still* have a solution for you. It may not be as pretty or cost effective, but usually there is a way.

Similarly, if you recently purchased equipment and would prefer to extract the cash rather than having it tied up as just another fixed asset, send us the receipt and proof of payment and we will get to work.

Please give Frank a call at 403-701-5877 to discuss your requirements.

 

Hat tip to Ron Byskal (thanks Ron!)

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Financing Condo and Homeowners Association Repairs, Upgrades and Improvements

Posted on September 29, 2014 by Frank Penkala

If your condo or homeowners association is planning major repairs or upgrades to your building or complex, you may be in for a tough cash call.

There is now an affordable alternative for financing repairs and upgrades that won’t drain owners’ resources. Through simple, straightforward financing arrangements with your association, the cost of repairs and upgrades can be structured into very manageable payments.

Give us a call to find out how.

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Financing Soft Assets? Almost Anything is Possible With Solid Financials.

Posted on September 29, 2014 by Frank Penkala

Good news: We can now lease finance non-traditional ‘soft’ assets for well established, financially solid corporations. This may include software only deals for major mission critical packages key to supporting your enterprise. It could include warehouse fixtures, lighting systems, alternative power supplies, racking, and even specialized HVAC systems.

If your bank doesn’t like it, chances are we can help get your financing done — quickly and on a very cost competitive basis.

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LeaseDirect Canada Now Accredited by The Better Business Bureau (BBB)

Posted on July 28, 2014 by Frank Penkala

Well, we finally got around to getting accredited by the Better Business Bureau, aka BBB, and started off with a pretty darn good rating. Seems with almost 10 years of business under our belt under the LeaseDirect brand, with no registered complaints, no government actions, straight-up advertising and nobody suing us (knock wood), the BBB didn’t have too many challenges providing a solid endorsement.

Have a look?

http://www.bbb.org/calgary/business-reviews/contractors-equipment-and-supplies-rent-lease/leasedirect-canada-corporation-in-calgary-ab-44361

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LeaseDirect Charge on Your Credit Card?

Posted on July 28, 2014 by Frank Penkala

It ain’t me babe, it ain’t me you’re looking for… ~ Bob Dylan

Hold the phones. It seems major banks believe little ol’ LeaseDirect Canada is charging their clients’ credit cards for some nefarious purpose.

For the record, in most cases, the charges relate to Canon or Ricoh copier financing provided by the manufacturers’ underwriter, an outfit called De Lage Landen (DLL for short) in Oakville, Ontario, who own the Leasedirect.com web domain, and which is owned by one of the world’s largest banks, Rabobank Group (The Netherlands).

If you see a charge on your credit card statement that says ‘leasedirect’, please review any current lease contracts you may have with Canon, Ricoh or De Lage Landen (DLL). These charges are usually a default in cases where your pre-approved auto-debit payment is declined for some reason.

The confusion seems to arise almost every month as business owners and government departments review their credit card statements. We own the LeaseDirect.ca Canadian domain and have been registered federally across the country, as a Canada corporation to protect our name, since 2004. When you Google our name in search of the company issuing mysterious and unexpected charges to your credit card, we are the ones to pop up.

If you are still not sure why your card got dinged, please call DLL at 1-877-500-5355 and see if they can get you sorted out. In any case, it is not us at LeaseDirect Canada Corporation. We do not charge credit cards at all, and especially not for failed lease payments. Perhaps something to keep in mind the next time you need an equipment or vehicle lease?

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Good Leasing Results: “It has been a pleasure working with you.”

Posted on January 3, 2013 by Frank Penkala

Some transactions just go so well that I just want to reach through the phone to the person I’ve been working with and extend a big ol’ hug. Imagine every working interaction going smoothly, sharing the information needed to make an informed decision (on both sides), doing what we say we will do, giving the customer exactly what we promised, and the customer acknowledging that as the case? Bingo. Customer satisfaction, verified, gently lifting our modest enterprise up, providing a sense of satisfaction in our work and process.

This doesn’t happen with every transaction, but how sweet it is when it does.

 

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Message from Credit

Posted on July 18, 2012 by Frank Penkala

Every once in a while funny stuff happens at work, even in the leasing business. Yesterday I conferenced a rather unexpressive client in over the phone, connecting with the voicemail of a credit manager, to do a verbal confirmation of equipment delivery — usually the last step in completing a file and starting the lease. Here is the email I received this morning:

Hi Frank:  I got the voice message from you and Charlie. It made my day.  Your “instead of a grunt, can you put that into a sentence?” was absolutely hilarious. Then his part about “well the battery didn’t work” was great. I didn’t know whether to erase or post it on u-tube. Anyway it does count as a verbal delivery. Nobody could fake that.

Thanks for the laugh.

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Doom and Gloom? Where?

Posted on June 15, 2012 by Frank Penkala

So, we are providing lease financing for a new dermatology clinic in Vancouver; funding digger derrick and bucket trucks that will be working for BC Hydro; leased new servers to an engineering company in Calgary; approved an older lowboy trailer for a new equipment rental company in Alberta. Every day brings new opportunities. Seems like a healthy upswing in progress, but not hearing about it in the media. Probably doom and gloom is a better sell?

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Leasing Services in Alberta – Our Poster Boy

Posted on February 9, 2012 by Frank Penkala

Fred’s little Alberta based oil and gas drilling rig moving business is now generating considerable revenue, with decent profitability.  It has been an interesting ride with him over the past three years.  Starting as a modest water hauling operation, our humble leasing service funded a fleet of trailers, trucks and associated equipment to help Fred’s company grow its operation.

It is the same old story.  It took ten years of sweat to become an overnight success, and now that he’s there, Fred has to fight off at least three banks that suddenly “love the business”.

Here’s a list of things that helped Fred succeed:

1) Detailed financial statements that included five years of comparative figures, prepared by a reputable firm of Chartered Accountants.

2) Wiley recruitment of the right people, at the right time, to meet the demand as it grew.

3) Buying good used equipment at a great price in a ‘down’ market (2009).

4) Careful evaluation of the monthly leasing cost against the revenue that could be generated by a particular piece of equipment.

5) A supportive, understanding and practical wife working in the business.

6) Cojones. (Ka-hone-eez). Big ones.

Congrats Fred, you’ve arrived.

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Equipment Leasing: Sometimes It *Really!* Works

Posted on March 19, 2011 by Frank Penkala

It is a pleasure working with people who have the determination (guts, gumption, skill, luck) to succeed, regardless of the perceived economic climate.

I am starting to see year-end statements for a few companies who are not only surviving, but really, really thriving.  Congrats to you hardy souls. 

 It is nice to know that we played a small part in the success.

Finding funding during challenging times speaks to the diversity the leasing industry can offer growing companies.  While our pricing was not the cheapest, we got the job done.  Our clients acquired the equipment they needed, at rock-bottom prices, to meet rising market demand in the recovering resource sectors.

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