Econolease Financial Services
Econolease Financial Services is a financial services food processing company located in Markham.
- Company typePrivate
- Founded2005
- HeadquartersMarkham, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Econolease Financial Services does
Econolease Financial Services, Canada’s leader in restaurant equipment financing. We help businesses with leasing, renting, finance and payment processing.
Econolease Financial Services firmographics
Firmographics- Name
- Econolease Financial Services
- Legal name
- EconoLease
- Website
- https://www.econolease.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Econolease Financial Services is a financial services food processing company located in Markham.
- Ownership category
- akta.pro rank
Where Econolease Financial Services is headquartered
LocationHeadquarters
- HQ city
- Markham
- HQ country
- Canada
- HQ region
- North America
Offices7 records
Markets served
Econolease Financial Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Supply Chain, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Equipment Rental (Rent-Try-Buy): 12-month flexible rental agreements for hospitality equipment with weekly payments. Rental income generated from ongoing payments with potential for equipment return or purchase at term end. Includes rental rebate of 60% of net rent paid in first year if purchased.
- Equipment Lease: 12-60 month lease agreements with best market rates. Monthly payments collected with ownership transfer at end of term. Nominal buyout options available.
- Business Loans: Unsecured loans from $10,000 to $250,000 for operating expenses, inventory, marketing, and other business needs. Terms 6-12 months with fixed repayments. Approval based on business revenue and credit card receivables.
- Certified Used Equipment Sales: Sale of refurbished ex-rental commercial kitchen equipment to customers. Equipment sourced from returned Rent-Try-Buy agreements and trade-ins.
- Payment Processing Services: Clover POS hardware and processing services. Revenue through cost-plus margin on card brand fees. Exclusive pricing offered to existing finance customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Rent-Try-Buy: Flexible 12-month rental with low weekly payments |
| Subscription | Monthly | Equipment Lease: 12-60 month terms with ownership at end |
| Other | Monthly | Business Loans: Cash for operating expenses and growth |
| One time/ perpetual license | Pay-as-you-go | Certified Used Equipment: Purchase outright |
| Subscription | Monthly | Community-Equip: Discounted financing for community organizations |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Econolease Financial Services product offering
Product offeringCore offering
EconoLease Financial Services provides specialized financing for hospitality businesses in Canada to acquire commercial kitchen and food service equipment. Core offerings include the Rent-Try-Buy® flexible 12-month rental agreement, traditional 12-60 month equipment leases, unsecured business loans from $10,000 to $250,000, Clover POS payment processing, and the Community-Equip program for non-profits. The company also sells Certified Used refurbished equipment sourced from returned Rent-Try-Buy agreements.
Product overview
EconoLease Financial Services is a hospitality equipment financing company offering a multi-product platform. The core offering includes Rent-Try-Buy (flexible 12-month rental with upgrade/buy options), Lease (12-60 month financing with ownership), and Loan products for business cash needs. The company also operates as a Clover Certified Dealer for payment processing solutions and runs Community-Equip, a discounted finance program for community organizations. Additionally, EconoLease sells and finances Certified Used commercial kitchen equipment sourced from returned rentals, alongside Third Party Stock from dealer partners. Equipment categories span cooking, refrigeration, beverage, coffee, dishwashers, food display, preparation, and stainless steel categories.
Differentiator
Problem solved
Functional benefit
Products and services
- Rent-Try-Buy A flexible 12-month rental agreement allowing hospitality businesses to try commercial kitchen equipment before deciding to buy, upgrade, or return it. Features low weekly payments that are 100% tax deductible, with a 60% rental rebate toward purchase if buying. Funding from $1,000 to $250,000+.
- Lease Equipment lease financing with term lengths from 12 to 60 months at competitive market rates, sourced through multiple lenders. At term end, ownership transfers to the lessee with nominal buyout options ($10 or 10% of equipment cost). Funding from $1,000 to $2,000,000+.
- Loan Unsecured business loans ranging from $10,000 to $250,000 for non-equipment expenses such as renovations, repairs, wages, marketing, and unplanned emergencies. Terms of 6-12 months with fixed repayments. Requires minimum 6 months in business, $100,000 annual revenue, and 600 credit score.
- Payment Processing Clover POS payment processing solutions offered through EconoLease's certified dealer partnership with Fiserv. Includes hardware (Flex, Mini, Station Duo), software configuration, activation, and ongoing support with exclusive pricing for existing EconoLease finance customers using a cost-plus transparent pricing model.
- Community-Equip A tailored finance product for registered charities, not-for-profits, social enterprises, and First Nations organizations that use hospitality to support disadvantaged communities. Offers relaxed credit requirements, 55% discounts on certified used equipment versus new prices, and 20% below standard rental rates.
- Certified Used Equipment Fully refurbished ex-rental commercial kitchen equipment from trusted businesses, typically less than 2.5 years old, backed by a 90-day parts and labor warranty. Includes equipment from brands like Garland, Vulcan, Hobart, Scotsman, and True. Available for outright purchase or Rent-Try-Buy financing.
- Accurate Repairs Hospitality equipment repair and servicing in the Greater Toronto Area, operated since 1972. Offers road servicing for hot and cold beverage equipment plus warehouse-based repairs for other equipment types. Brands serviced include Bunn, FETCO, Curtis, Vulcan, La Marzocco, Hobart.
Quantifiable outcome
- Finance approval in under 5 minutes for funding under $50,000
- +4 more outcomes
Companies that use Econolease Financial Services
Customer profileNamed customers3 records
Segments8 records
Ideal customer profiles4 records
Econolease Financial Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature3 records
Econolease Financial Services partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- SilverChef GroupcoreSilverChef Group acquired EconoLease in 2021, bringing EconoLease into a global hospitality financing network. SilverChef Group was founded in 1986 in Brisbane, Australia and operates across Australia, New Zealand, Canada, and USA with nearly 100,000 customers and $2.7 billion invested in hospitality sector.
- Opportunity InternationalcoreSilverChef Group partnership with Opportunity International through English Family Foundation. Over 1.5 million individuals lifted out of poverty through microfinance loans. SilverChef Group donated $203,200 in FY25 to support microfinance for over 6 million people.
- Clover (Fiserv)coreEconoLease is a Clover Certified Dealer offering POS hardware (Flex, Mini, Station Duo) and payment processing services. Exclusive pricing for existing finance customers with cost-plus transparent pricing model. Clover POS systems designed for hospitality businesses.
- Equipment Dealers (2,600+ globally)coreNetwork of equipment dealers across Australia, New Zealand, Canada, and USA who supply new commercial kitchen equipment and refer customers for EconoLease financing. SilverChef Group has established relationships with thousands of equipment dealers supporting customer access to diverse equipment brands.
- Equipment Service PartnersminorPartnership with local service companies in Calgary, Edmonton, Saskatchewan, Toronto, and Vancouver for Certified Used equipment cleaning, servicing, and storage. These partners maintain equipment and facilitate delivery to customers.
- Accurate RepairsminorAccurate Repairs has operated since 1972 as hospitality equipment repair service in Greater Toronto Area. Located at EconoLease Toronto warehouse (30 Rolark Drive). Provides equipment repair, servicing, and road service for hot/cold beverage equipment. Brands include Bunn, FETCO, Curtis, Vulcan, La Marzocco, Hobart.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
Econolease Financial Services competitors and assessment
Company assessmentMarket position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key highlights6 records
Customer concentration
Econolease Financial Services social profiles
Digital presenceEconolease Financial Services compliance and trust
Trust signalCompliance1 record
Econolease Financial Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Econolease Financial Services leadership team
Management profileNumber of profiles
Profiles12 records
Econolease Financial Services subsidiaries and ownership
Company hierarchySubsidiaries1 record
Econolease Financial Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Econolease Financial Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Econolease Financial Services
What does Econolease Financial Services do?
EconoLease Financial Services provides specialized financing for hospitality businesses in Canada to acquire commercial kitchen and food service equipment. Core offerings include the Rent-Try-Buy® flexible 12-month rental agreement, traditional 12-60 month equipment leases, unsecured business loans from $10,000 to $250,000, Clover POS payment processing, and the Community-Equip program for non-profits. The company also sells Certified Used refurbished equipment sourced from returned Rent-Try-Buy agreements.
Is Econolease Financial Services a public or private company?
Econolease Financial Services is a private company. It is classified as corporate owned and is currently operating.
When was Econolease Financial Services founded?
Econolease Financial Services was founded in 2005. It employs 11 to 50 people.
Where is Econolease Financial Services based?
Econolease Financial Services is headquartered in Markham, Canada, in the North America region.
How does Econolease Financial Services make money?
Five revenue lines are on record. Equipment Rental (Rent-Try-Buy) is the primary driver. The others are equipment Lease, business Loans, certified Used Equipment Sales and payment Processing Services.
Does Econolease Financial Services have an API?
No public API is recorded for Econolease Financial Services.