CWB National Leasing

What CWB National Leasing does

National Bank Equipment Finance Inc., operating as CWB National Leasing, is Canada's longest-running equipment finance firm, founded in 1977 and headquartered in Winnipeg, Manitoba. It is a wholly-owned subsidiary of National Bank of Canada (TSX: NA), operating across the brand 'National Bank Equipment Finance.' The company provides equipment leasing and equipment loan products to Canadian businesses, supported by three dedicated portals — a client portal (efi.equipmentfinance.nbc.ca), a dealer portal, and a broker portal — alongside a digital self-serve application portal (apply.equipmentfinance.nbc.ca). Products include leasing arrangements (no down payment, structured payments, end-of-term purchase options, trade-up flexibility) and equipment loans (full ownership, flexible payment solutions, pre-approved financing).

CWB National Leasing serves a broad vertical mix of Canadian businesses, with primary segments in agriculture, transportation, construction, manufacturing, and small/medium enterprises, and secondary segments in aviation, healthcare, mining, golf & turf, and forestry. Distribution is multi-channel: equipment dealers act as point-of-sale channel partners, a dedicated broker portal enables third-party brokers, a field sales team serves enterprise customers, and direct digital self-serve origination serves SMBs. According to the company, it currently services more than 70,000 Canadian businesses and has deployed over $45 billion in cumulative funding — a figure that reflects both the maturity of its portfolio and the scale of its dealer/channel-driven origination model.

Revenue mechanics are fee- and interest-based: recurring lease payments on equipment leases, plus transaction-fee income (interest and principal) on equipment loans. Pricing is quote-based and not publicly disclosed. The subsidiary benefits from parent-bank balance sheet funding, which is a structural advantage in this capital-intensive lending category. No AI/ML capabilities, recent M&A, leadership changes, funding rounds, or geographic expansion outside Canada are documented in the supplied data.

Name

CWB National Leasing

Legal name

National Bank Equipment Finance Inc.

Website

https://cwbnationalleasing.com

Company type

Private

Founded year

1977

Headcount range

251–500 employees

Short description

CWB National Leasing, operating as National Bank Equipment Finance, is Canada's longest-running equipment finance firm (founded 1977), providing leasing and loans to more than 70,000 Canadian businesses across agriculture, transportation, construction, manufacturing, and other verticals via dealer, broker, and direct channels.

Ownership category

akta.pro rank

Product category

Equipment Financing

NAICS

Commercial and Industrial Machinery and Equipment Rental and Leasing (5324), Construction, Transportation, Mining, and Forestry Machinery and Equipment Rental and Leasing (53241), Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing (532412), Automotive Equipment Rental and Leasing (5321)

SIC

Finance Lessors (6172), Services-Equipment Rental & Leasing, Nec (7359)

akta.pro primary industry

Equipment & Tool Leasing (Consumer) (FSAKANAF)

akta.pro secondary industries

Leasing & Lease Buyout Financing (FSAKADAC), Flatbed & Platform Truck Leasing & Rental (TLABABAE), Private Aviation Insurance & Financing/Leasing Services (THABAFAM)

Keywords

• Equipment financing
• Equipment leasing
• Equipment loans
• Commercial finance
• Asset financing

Headquarters

HQ city

Winnipeg

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Equipment Leasing: Leasing arrangements allow businesses to acquire equipment with no down payment, structured payments, option to purchase, and ability to regularly trade up equipment. Revenue generated through lease payments over the term of the agreement.
2. Equipment Loans: Loans for equipment acquisition allowing businesses to own equipment outright. Flexible payment solutions with expert local support and pre-approved financing options. Revenue from interest and principal payments.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core offering

CWB National Leasing provides equipment leasing and equipment loan products to Canadian businesses across multiple verticals including agriculture, transportation, construction, manufacturing, aviation, healthcare, mining, forestry, and golf & turf. Leasing arrangements enable businesses to acquire equipment with no down payment, structured monthly payments, end-of-term purchase options, and the ability to regularly trade up equipment, while equipment loans allow businesses to own equipment outright with flexible payment solutions and pre-approved financing.

Differentiator

Problem solved

Functional benefit

Products and services

• Equipment Leasing Equipment leasing solutions allowing Canadian businesses to acquire equipment with no down payment, structured monthly payments, an option to purchase at end of term, the ability to regularly trade up equipment, and potential tax savings. Used across verticals including agriculture, transportation, construction, manufacturing, aviation, healthcare, mining, forestry, and golf & turf.
• Equipment Loans Equipment loan products for Canadian businesses to acquire equipment and own it outright. Provides flexible payment solutions, expert local support, and pre-approved financing options, with revenue generated through interest and principal payments over the loan term.

Segments10 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Equipment DealerscoreChannel Partner/ Reseller/ DistributorEquipment dealers serve as channel partners providing point-of-sale financing solutions. The company offers dedicated sales team support and dealer portal tools to optimize equipment financing operations and facilitate quicker equipment sales. Dealers receive in-depth support from dedicated sales team and access to Equipment Finance Interactive Dealer portal tools.

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Broad incumbents

• TD Equipment Finance: Toronto-Dominion Bank's equipment finance capability, providing lease and loan products to Canadian businesses across multiple verticals and competing with CWB at the point of sale with dealer networks.
• BMO Equipment Finance: Equipment finance capability within Bank of Montreal's commercial banking division. Competes with CWB for Canadian business equipment financing deals, particularly in commercial and industrial asset categories, as part of a full-service bank offering.
• Scotiabank Equipment Finance: Bank of Nova Scotia's commercial equipment financing line, competing with CWB for mid-market and SME equipment leasing across sectors including transportation, construction, and healthcare.
• RBC Equipment Finance: Equipment financing arm of Royal Bank of Canada, one of the Big Five Canadian banks. Directly competes with CWB in business equipment leasing across multiple verticals, but as part of a much broader commercial banking franchise.

Direct peers

• De Lage Landen (DLL): Global vendor and equipment finance company (Rabobank subsidiary) operating across multiple verticals worldwide. Direct comparable in business model, multi-channel distribution, and vertical specialization, providing useful cross-border benchmarking for CWB.
• Equify Financial: US-based independent equipment finance company providing leases and loans across construction, transportation, and industrial verticals. Direct comparable in business model and customer base, though operating in a different geography.
• CIT Group (First Citizens): US-based commercial finance company (now part of First Citizens BancShares) with a large equipment finance franchise serving SMEs and mid-market clients. Closely comparable in product set, vertical breadth, and customer profile.
• Meridian OneCap: Meridian's equipment finance arm and one of the most direct Canadian equipment leasing competitors to CWB National Leasing, serving Canadian SMEs across similar verticals with comparable lease and loan products.

Regional players

• Wajax Corporation: Canadian industrial equipment distributor with captive financing for heavy equipment purchases. Adjacent competitor that influences dealer-point-of-sale dynamics in construction, mining, and forestry — overlapping with several of CWB's primary verticals.
• Fairstone Financial: Canadian consumer and small-business lender offering lease and loan products. More consumer-skewed than CWB, but overlaps in SME equipment and vehicle financing across Canadian markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/NationalLeasing
• Facebookfacebook.com/CWBNationalLeasing

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CWB National Leasing