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Leasing company
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.

Polaris Leasing

Finanso.Multilogin™

About lender

Polaris Leasing is a Canadian company that provides Canadian small businesses with lease & finance equipment solutions under flexible terms and conditions. This company operates across the whole country. It provides a variety of financing options and deals with businesses from numerous industries:

  • Agriculture

  • Business office

  • Camp, resort, and marine

  • Industry

If customers need a lease, Polaris Leasing has streamlined the process into five simple steps so they can get the equipment they need when they need it.

Features

Polaris Leasing is not a traditional lender. Instead, this financial organization specializes in providing businesses with leasing solutions: they pay “rent” during a set period for the right to use the equipment. At the end of the lease, the clients may buy the equipment, renew the lease or return the equipment to Polaris Leasing.

The company provides the equipment for companies, corporations, associations, and even self-employed citizens, but not to individuals for personal use. Polaris Leasing offers different types of leasing so clients can find the option that suits their businesses in the best way. The options offered:

  • Seasonal leases

  • Semi-annual leases

  • Annual and monthly leases

  • Step program leases

  • Balloon payment leases

  • Stretch leases.

Each option has a description on its website.

Also, the company deals with businesses from many different industries. They provide their equipment to contractors, resort/tour operations, camp and lodge owners, condominium/strata owners, corporations and associations, farmers, fisherpersons, survey companies, golf courses, and others that can still be approved.

Polaris Leasing boasts a high approval ratio. Credit approval is determined by the time in business, references from banks and trades, and credit ratings. Customers who want to add more equipment to their current leases can easily do it as the company allows it. New equipment can easily be added if clients have an acceptable payment history and no adverse change to their credit profile.

Pros and cons

However, Polaris Leasing is a company that has some pros and cons that must be taken into account.

Pros

  • The company provides small businesses with the required equipment.

  • They offer numerous leasing options.

  • The company cooperates with businesses from different industries.

  • The company allows customers to buy the leased equipment during and after the lease.

  • Polaris Leasing has a high approval rate.

  • The application is online and can be done very quickly.

  • The company provides equipment to self-employed customers.

  • Leasing payments can be 100% tax deductible.

  • Customers can add more equipment to their current leases.

Cons

  • Mostly, the services provided by the company will be suitable only for businesses, not for individuals.

  • Rates and conditions are not displayed on the company’s website.

  • The company has only one office.

  • The company doesn’t offer loans for buying equipment.

  • Insurance is required for all types of equipment.

  • Customers can pay only monthly.

As a result, we see that the company has several advantages. They offer services that help customers grow and develop their businesses. Polaris Leasing offers different types of equipment and provides various types of leasing. Also, the company operates with businesses from almost all industries.

However, Polaris Leasing has some disadvantages. For example, they do not publish the leasing conditions on their website. Also, their services will not be suitable for individuals, and they have only one office across the country.

Loan conditions

If customers need equipment for their businesses and prefer to borrow it from Polaris Leasing, firstly, they need to complete the online application form on the company’s website. It can be done within several minutes, and then they need to connect with the company’s operators. The application requires some personal information and information about the business.

Unfortunately, there is no information about the requirements on the company’s website. They depend on the leasing option that customers choose. However, customers must be older than 18, be Canadian citizens, and have an active business. Credit approval is determined by length of time in business, references from banks and trades, and credit ratings. Customers who use the equipment for business/commercial use can apply for leasing. This includes companies, associations, and self-employed ones.

Methods of loan funding

When customers are done with the application and have the required type of equipment and type of leasing chosen, they will need to receive the equipment. Delivery arrangements are made with the equipment supplier.

FAQ

What is Polaris Leasing?

Polaris Leasing is a Canadian company that provides small businesses with equipment leasing services. They offer different types of leasing. The company deals with businesses from many industries and provides many types of equipment.

Who owns Polaris Leasing?

Polaris Leasing is a privately held company. Mr. Charles Weppler is its President.

How do you qualify for Polaris Leasing?

As credit approval is determined by the time in business, references from banks and trades, and credit ratings, there are no exact requirements for clients. Nevertheless, they must be older than 18, be Canadian citizens, and have an active business. Customers who use the equipment for business/commercial use can apply for leasing. This includes companies, associations, and self-employed ones.  

How much can you borrow from Polaris Leasing?

Customers can borrow more than $500,000.

Is it a legitimate company?

Polaris Leasing is a legitimate company. It is registered on Opengovca with the ID 4176529. The business number is 133306555.

Company documents

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© Polaris Leasing

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