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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

CWB National Leasing

Finanso.Multilogin™

About lender

CWB National Leasing is a Canadian equipment financing company that renders leasing services appealing to buyers and sellers. The company is one of the country's largest and longest-standing leasing entities.

The company’s first equipment deal happened in 1977 when it recorded a lease for a Codaphone phone call recorder on a piece of loose-leaf paper. Since then, CWB has been developing this trend and has provided over $11 billion in funding to Canadian businesses.

CWB supports its 60 sales agents and a broker network across Canada from its headquarters in Manitoba.

Features

CWB provides leasing services for equipment buyers and sellers. The buyers get several options and payment flexibility, while sellers receive selling programs, detailed information on the process arrangements, and help in offering finance.

The list of equipment to lease is quite long and includes machinery and equipment used in agriculture, construction and transportation, industrial and material handling, medicine, etc.

CWB offers a vehicle protection plan and own loss damage waiver program. In addition, to help the clients, the company manages the internal claim department. Many of CWB’s services are rendered online.

Pros and cons

Pros

  • Finance is provided for equipment of various types and in the different application areas.

  • Even used, heavy-duty equipment up to 15 years old may be financed.

  • The company’s online National Leasing Interactive tool – Financing Portal – allows you to apply within a minute, view and download documents, see the next payment due time and end-of-term options, and update information. In addition, via Quoting Portal, the sellers may generate quotes and pull reports on all financing customers. The tool has a desktop, tablet, and mobile versions.

  • The company's online National Leasing Interactive tool – Go! – it allows customers to take advantage of an online lease payment calculator and apply for financing directly on the seller's website.

  • The insurance protection and waiver program allow staying stable under possible adverse conditions. In addition, regular lease payments can be combined with equipment protection payments.

  • A dedicated support team maintained by CWB National Leasing may render any proper assistance.

  • The company offers banking, trust, and wealth management services.

Cons

  • Personal credit history is taken into account.

  • A business should operate for at least three years before the first lease is granted.

CWB National Leasing credit gives several vital advantages for businesses requiring equipment purchases like the design of payment cycle depending on seasonal cash flow and revenue, insurance and waiver programs, and credit management online tools. In addition, the corporation offers programs and promotion assistance for a business that sells equipment.

Loan conditions

CWB does not introduce standard leasing plans on its website. But in most cases, CWB National Leasing can finance up to 100% of your equipment. No down payment is required. If you want lower payments, a residual purchase option may be what you need. At CWB National Leasing, residuals generally range from $1 to 50% of the equipment selling price.

For example, you trade in a piece of equipment for $30,000 and apply that trade-in value to a $100,000 piece of used equipment. Thus, the cost of the equipment is $70,000. You prefer to lease, so you start researching different companies that can finance $70,000. You want your payments as low as possible; it means you are after a high residual. Other companies may calculate the residual based on that post-trade-in $70,000 net value of the equipment, but CWB National Leasing calculates the residual using the full $100,000 equipment price. This means the payments would be lower with CWB National Leasing since the residual value is higher.

Sometimes, a personal credit history, favorable records from credit bureaus, payment history, and available credits of the owner and the borrowing company may be asked for.

CWB has partnered with more than 20 other lenders and may assist in getting a lease deal with another company.

The past and current customers of the CWB with good payment history enjoy the privilege of using pre-approved credit lines for equipment purchases. The second credit review submission is not mandatory if the client's circumstances have not changed significantly since the last review.

Methods of a loan funding

Within the leasing deal, CWB remits the money to the equipment seller and the buyer can get its equipment for use, while CWB owns the equipment. Typically, a credit decision for transactions under $50,000 takes four business hours since all necessary supporting documents are received. In addition, many credit decisions require minutes following the credit scoring software FastCredit™ CWB uses.

FAQ

What is CWB?

CWB National Leasing extends commercial financing for business needs and offers funding for equipment to be sold.

CWB finances the purchase of different types of equipment. CWB describes its terms and conditions as convenient and affordable for its clients aiming at business development and sustainability. It also assists equipment sellers with promotion and customer financial support.

Who owns CWB?

CWB National Leasing is part of the Canadian Western Bank Financial Group of companies.

How do you qualify for CWB?

To approve the leasing application, CWB will require the information saying that:

  • the business has run for more than three years or so,

  • the company has positive financial statements,

  • the owner has positive financial records and credit history, etc.

The list of requirements is of reference nature, and the exact file will be provided upon request.

How much can you borrow from CWB?

CWB National Leasing can finance up to 100% of your equipment, with no down payment required. The residuals generally range anywhere from $1 to 50% of the selling price of the equipment.

Is CWB a legitimate company?

Yes, the company is legitimate. It has a long history, follows the current regulation, participates in charity activities, and promotes sustainable business ideas.

Company documents

Terms of use
Privacy Statement

CWB National Leasing is Canada's largest and longest-standing equipment financing company. We're Canada's equipment financing experts!

© CWB National Leasing Inc.

What to pay attention to when applying for a loan from CWB National Leasing

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes CWB National Leasing from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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