Meridian OneCap Credit

What Meridian OneCap Credit does

Meridian OneCap Credit Corp. is a Canadian commercial equipment financing company and wholly owned subsidiary of Meridian Credit Union, Ontario's largest credit union. The modern entity was formed in 2016 when Meridian Credit Union acquired Roynat Lease Finance, which traces back through Scotiabank's 2008 acquisition of Irwin Commercial Finance Canada and Irwin's 2000 acquisition of Onset Capital Corporation. Headquartered in Burnaby, British Columbia, the firm operates from four regional offices in Vancouver, Calgary, Toronto, and Montreal and employs 51-100 people.

The company's product portfolio covers the full equipment financing lifecycle. Equipment manufacturers access Vendor Finance Programs that embed Meridian OneCap's credit workflows into their sales motions; equipment dealers and distributors use National Accounts and Floorplan Financing for inventory; commercial end-users access Equipment Leasing and Commercial Business Financing with seasonal payment schedules, 90-day deferred first payments, and an optional Equipment Protection Program. A dedicated Environmental Financing product ($5,000-$2,000,000; 2-10 year fixed-rate terms) targets EV, energy-efficient machinery, and renewable energy assets. The technology stack centers on a leasing and financing platform augmented by AI-informed credit decisioning, fraud monitoring, and a piloted agentic AI layer that automates document collection, borrower verification, and next-best-action recommendations for the sales team.

Revenue is generated through interest and rental income on operating and capital leases, transaction-based floorplan and vendor finance fees, and one-time program fees on environmental financing contracts. Distribution combines a direct sales force with channel partners (equipment vendors and OEMs) and a National Accounts program. The customer base spans enterprise manufacturers, mid-market dealers, and SMB end-users across heavy equipment, office equipment, agricultural equipment, landscaping, and electric tools sectors. Pricing is quote-based and not publicly disclosed, with environmental financing limits published. Compliance posture includes PIPEDA-aligned privacy practices, WCAG 2.0 AA accessibility, and AODA conformance.

Name

Meridian OneCap Credit

Legal name

Meridian OneCap Credit Corporation

Website

https://meridianonecap.ca

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Meridian OneCap Credit is a Canadian commercial equipment financing company, wholly owned by Meridian Credit Union, providing leasing, floorplan financing, vendor finance programs, and green equipment financing to manufacturers, dealers, and commercial end-users across Canada.

Ownership category

akta.pro rank

Headquarters

HQ city

Burnaby

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Equipment Leasing: Operating and capital leases for commercial equipment with customized payment structures, seasonal payment schedules, and flexible terms tailored to customer needs.
2. Floorplan Financing: Comprehensive floorplan financing programs supporting the complete cycle from manufacturer to dealer to customer, with inventory financing solutions.
3. Vendor Finance Programs: Private label financing programs for equipment vendors and manufacturers embedded in their sales process, enabling vendors to offer financing to their customers.
4. Environmental/Sustainable Financing: Green financing for electric vehicles, energy-efficient equipment, and renewable energy projects with fixed-rate contracts ranging from 2-10 years.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Meridian OneCap Credit provides leasing and financing solutions for commercial equipment to manufacturers, distributors, dealers, and end-user businesses across Canada. Its core offerings include equipment leasing, national accounts and floorplan financing, vendor finance programs embedded in manufacturers' sales processes, and environmental/sustainable equipment financing for EVs, energy-efficient machinery, and renewable energy projects. Flexible payment structures (including seasonal schedules and 90-day delays) and AI-informed credit decisioning support the offerings.

Product overview

Meridian OneCap Credit is a commercial equipment financing company offering a unified portfolio of leasing and financing solutions. The core offering includes Equipment Leasing, National Accounts and Floorplan Financing, Vendor Finance Programs, Environmental Financing, and Commercial Business Financing. These products work together to serve the complete equipment financing lifecycle: vendors use finance programs to sell equipment, dealers use floorplan financing for inventory, and end customers use equipment leasing for acquisition. The company also provides complementary digital tools including a Break Even Calculator, Business Checkup, Financial Resilience Score, and Business Plan Writer to support SME clients throughout their financial journey. As a wholly owned subsidiary of Meridian Credit Union, the company leverages over 130 years of combined leadership experience in the Canadian finance industry.

Differentiator

Problem solved

Functional benefit

Products and services

• Equipment Leasing Customized commercial equipment leasing programs offering personalized service, flexible payment structures (including seasonal schedules and 90-day payment delays), and long-term strategies for manufacturers, distributors, dealers, and end-user businesses to acquire equipment while preserving capital and credit lines.
• National Accounts and Floorplan Financing Comprehensive program management supporting the complete cycle from manufacturer to dealer to customer, including full-channel floorplan expertise, competitive pricing, and inventory financing for equipment dealers and manufacturers across Canada.
• Vendor Finance Programs Private-label and embedded financing programs enabling equipment vendors and manufacturers to offer convenient payment options to their customers, improving closing ratios and shortening sales cycles; includes customized payment solutions for equipment purchases across multiple equipment types.
• Environmental Financing Climate-focused equipment leasing and financing for sustainable solutions including electric vehicles, energy-efficient machinery, building retrofits, renewable energy projects, and EV charging infrastructure, with financing limits of $5,000–$2,000,000 and fixed-rate terms of 2–10 years; up to 100% project financing available.
• Commercial Business Financing Flexible financing programs for manufacturers, distributors, dealers, and commercial businesses, including seasonal payment schedules, delayed payments for the first 90 days, and financing for software and serialized equipment.

Quantifiable outcome

• Higher closing ratios for vendors using their financing programs compared to competitors
• +1 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability7 records

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Trees CanadaminorStrategic or Co-development PartnerOpen a lease, plant a tree initiative. Meridian OneCap has partnered with Trees Canada to plant a new tree for every lease opened with them, supporting environmental sustainability initiatives.
• Juno FinancialminorStrategic or Co-development PartnerOne of Canada's first green energy focused lenders. Partner focused on EV charging station infrastructure, high efficiency lighting fixtures, Combined Heat and Power units (CHP), and rooftop solar installations.
• Greenworks Tools Canada Inc.coreGTM or Marketing PartnerLow-rate green financing program for zero-emission equipment offered in partnership with Greenworks Tools Canada Inc., enabling Canadian businesses to access battery-powered equipment that reduces environmental impact and lowers fuel and maintenance costs.
• Canadian Finance & Leasing Association (CFLA-ACFL)coreOthersMeridian OneCap is a proud member of CFLA. President Hugh Swandel serves as Chair of the Board. The CFLA informs, supports, and advocates for Canada's asset-based financing, vehicle and equipment leasing industry's interests with over 200 member companies.
• Equipment Leasing and Finance Association (ELFA)coreOthersMeridian OneCap is a proud member of ELFA alongside CFLA membership. The ELFA is the Equipment Leasing and Finance Association serving the US equipment finance sector.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Volvo Financial Services: Global captive finance arm of Volvo Group, financing Volvo trucks, construction equipment, and related assets across dealer and end-customer channels. Comparable to Meridian OneCap in equipment finance and dealer floorplan model; VP of Credit at Meridian OneCap previously held senior credit roles at Volvo Financial Services.
• DLL (De Lage Landen): Global vendor finance and equipment leasing company owned by Rabobank, serving equipment manufacturers and dealers across multiple asset categories worldwide. Comparable vendor-finance business model to Meridian OneCap, though materially larger and globally diversified.
• Wells Fargo Equipment Finance: Large US equipment finance provider offering loans and leases to middle-market and commercial clients. Comparable to Meridian OneCap in equipment leasing focus and vendor financing capability, though with significantly broader balance sheet and product depth.
• Caterpillar Financial Services: Captive finance arm of Caterpillar Inc., financing Cat equipment for dealers and customers globally. Comparable to Meridian OneCap in equipment finance business model and dealer floorplan mechanics, though captive to a single OEM and at materially larger scale.
• First Citizens Bank Equipment Finance (CIT): US equipment finance division of First Citizens Bank, providing commercial financing across multiple asset classes. Comparable to Meridian OneCap in equipment leasing portfolio management; VP of Operations at Meridian OneCap previously led Originations at CIT Bank's Equipment Finance division, evidencing direct operational parallels.

Regional players

• Fairstone Bank of Canada: Canadian consumer and commercial credit provider offering loans and financing across the country. Comparable as a Canadian non-bank credit provider serving SMBs, though more diversified across consumer and small-ticket lending than Meridian OneCap's equipment-specialized focus.

Direct peers

• MCAP Leasing: Canadian equipment leasing and finance business. VP of National Sales at Meridian OneCap previously held sales leadership at MCAP Leasing, indicating direct competition and overlap in target customers, product mix, and channel relationships.
• CWB Equipment Finance (now National Bank Equipment Finance): Equipment financing arm of Canadian Western Bank (acquired by National Bank in 2024), providing equipment leasing and financing to Canadian businesses. Directly comparable to Meridian OneCap in target customers, vendor programs, and floorplan offerings.
• Accord Financial: TSX-listed Canadian specialty finance company providing asset-based lending, factoring, and equipment financing solutions. Comparable to Meridian OneCap as a Canadian-focused non-bank alternative finance provider serving SMBs and equipment dealers.
• National Leasing Group: A leading Canadian equipment leasing company serving SMBs with financing solutions. Direct competitor to Meridian OneCap across vendor programs, leasing, and floorplan financing; notably President Hugh Swandel previously held senior positions there, evidencing deep operational overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/meridian-one-cap-credit-corp
• Facebookfacebook.com/meridianonecap

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

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 Meridian OneCap Credit