founded 1996 headquarters oakville ontario canada key people larry mlynowski president revenue 11.5 m number of employees 35 2007 1 slogan focused on solutions website www.equirex.com equirex leasing corp. is a canadian capital leasing or asset based lending company with its headquarters in oakville ontario . founded in 1996 equirex finances leases in every province in canada . 2 the company serves multiple markets including agricultural leases b finance capital leases and industrial equipment leases . contents 1 capital leasing industry 2 market position 3 product mix 4 references 5 external links capital leasing industry edit the equipment leasing association of america estimates that 600 billion worth of equipment was acquired through leasing in 2007 . this represents 1 3 of all new equipment acquired by business . 3 the canadian leasing industry is proportionately larger with over 106.6 billion of financing in place with canadian businesses and consumers . 4 capital leasing is a subset of the leasing industry and allows companies to get the use of the equipment without having to tie up their capital . unlike traditional loans where the business is given funds to purchase the asset capital leases rely on the lessor owning the leased item as collateral during the life of the lease as well as other covenants . in addition to providing greater legal control over the item the lessor can also reduce their tax liability through depreciation . 5 like the credit reporting industry the leasing industry segments the market by the relative credit worthiness of the lessee . a finance businesses tend to pay the lowest interest rates and have multiple sources for borrowing . equipment vendors and banks will fund these lower risk leases but also receive lower rates of return . for business that are new or whose owners have imperfect credit the b finance companies step in . lessees tend to pay higher interest rates on the leases and may also supply other collateral . while these businesses pay more the leasing company must also be more vigilant to reduce the risks or consequences of defaults . as seen in the sub prime mortgage industry poorly managed portfolios can lead to significant losses . market position edit equirex is active across canada serving all major cities exclusively through a broker network . as a complement to retail and commercial banks who work with lower risk businesses equirex has succeeded in the b finance segment . in canada banks and other lenders have tried to enter this space but have found it difficult to manage risks and problems in other sub prime markets have led to retraction from the segment . 6 equirex emphasizes finding solutions to a business needs . the company is known for funding leases that are appropriate to the lessee and mitigate risk . product mix edit the agrilease division leases dairy cattle to canadian farmers equirex does not provide consumer leases . instead it works with manufacturers and a broker network to supply businesses with needed equipment for their operations . in contrast to most other leasing industry players equirex does not use an inside sales force . they work with brokers with expertise by industry segment . major industries served include agriculture bars & restaurants construction forestry health fitness and beauty logistics manufacturing oil & gas 7 references edit hoovers equirex profile . industry canada . retrieved 2008 04 08 . equipment leasing and finance association s survey of economic activity . elfa . retrieved 2008 04 08 . canadian finance and leasing association . cfla . retrieved 2008 04 08 . equipment leasing introduction to leasing . executive caliber . 2008 . retrieved 2008 06 05 . delaney rob 2007 09 25 . subprime panic freezes 40 billion of canadian commercial paper . bloomberg . retrieved 2008 04 08 . partial list of industries served . equirex.com . 2008 . retrieved 2008 06 05 . external links edit official equirex website the canadian finance & leasing association cfla website retrieved from https en.wikipedia.org w index.php title equirex & oldid 725339184 categories financial services companies of canadaprivately held companies of canadacompanies based in oakville ontarioleasing companies navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 15 june 2016 at 02 18 . text is available under the creative commons attribution sharealike license ; 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