Peel Financial Review (March 2023) – Pros, Cons, Features, & Pricing

Is your business in need of extra financial support, or are you looking for low-interest loans to boost your capital? Peel Financial is one of the largest equipment financing companies in Canada, and it supports small and medium-sized businesses. Let’s begin our Peel Financial review.

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Last Updated: Mar 16, 2023

Peel Financial

  • Financing solution tailored uniquely to the customer
  • Established relationships with over 25 lenders across Canada
  • Team of dedicated leasing professionals provides support

Experts in Truck Loans and Heavy Equipment Financing in Canada - Get started now

Pros and Cons of Peel Financial

Below are some merits and demerits of using Peel Financial.


  • Collateral is not necessary, meaning you can get either a secured or an unsecured loan.
  • Interest rates can be adjusted based on your financial capacity or credit score.
  • You have access to multiple lenders, increasing your chances of gaining approval.
  • If you repay your loans in time, your credit score may get better.
  • Get loans as high as $1,000,000.


While choosing Peel Financial has a host of benefits, here are a few interesting facts you should be aware of.

  • Peel Financial’s services are not available in every part of Canada.
  • People with bad credit scores tend to get higher interest loans than the general population.
  • Even if your bid is accepted, you may have to wait for nearly a week to gain access to funds.

How good are their services?

Peel Financial has a broad range of services that many customers have found useful.

What services are offered by Peel Financial?

Peel Financial offers both equipment leasing and loans services.

With leases, you can procure equipment for your business with more flexibility and ease. Obtaining leases allows you to pay less tax. You can set up leases with a 10% payout, fixed payout or fair market value. You can also choose from payment patterns like seasonal skips, interest-only payments or variable payments.

In addition, Peel Financial offers both secured and unsecured loans.

  • Unsecured loans: These do not require any collateral but you have to provide a good credit and cash flow history.
  • Secured loans: These require that you provide collateral.

What are the costs of using Peel Financial?

Costs incurred for using Peel Financial depends on factors such as the product you’re applying for, the amount of help you need, your credit history, cash flow and loan duration. Some of the extra costs include:

  • Interest rate: Poorer credit score or weaker cash flow leads to higher rates, starting at 2.5%.
  • Penalties: Defaulting on agreement terms may incur penalty fees, higher interest rates or poorer credit scores.
  • Origination fees
  • Cheque cashing
  • Administrative fees

Is Peel Financial secured?

Many customers consider Peel Financial safe. The company has been in business for over 50 years and they are trusted by the many businesses they have helped with truck and equipment services.

How good is customer support?

Peel Financial has a buoyant customer care service. Customers can reach them via phone calls, fax and email messages. You can also fill a request form available on the company’s website homepage or visit them in person. Support is available from 9 AM to 6 PM EST on weekdays and from 11 AM to 4 PM EST on Saturday.

Peel Financial’s online platform

Peel Financial has a fairly self-explanatory website at It is easy to navigate and simplifies the application process.

How to get started with Peel Financial?

To be eligible to use Peel Financial, you must be a resident of Canada. You may download the credit application form from the company’s website or get started by clicking the ‘Apply Now’ button on the homepage. You will be required to provide relevant personal details and information about the kind of loan or lease you want, as well as other relevant data.

Alternatives to Peel Financial

Having second thoughts about using Peel Financial? Capital Hands and Equipment Finance are viable options you can consider.

Capital Hands Limited offers loans and equipment leasing to eligible Canadians with interest rates starting at 3.7%. You can get loans as low as $750 within 24 hours with flexible repayment plans.

Like Peel Financial, Equipment Finance Canada provides low-interest loans as well as equipment leasing services. Rates start at 2.49% and you can obtain loans as low as $10,000 for a maximum of 84 months.

Peel Financial Review Conclusion

With a mission to make leasing and loaning as transparent as possible, Peel Financial is one of Canada’s leading truck and equipment financing companies. The company also provides secured and unsecured loans with an easy application process and flexible repayment plans.

If you need assistance with equipment or machinery or you are looking for business loans that can repay slowly for up to 10 years, Peel Financial may be the jackpot for you.

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FAQs about Peel Financial

What is Peel Financial?

Peel Financial is a finance company that provides extra financial support to those looking for low-interest loans and to boost capital. Peel Financial is one of the largest equipment financing companies in Canada that supports small to medium-sized businesses.

What does Peel Financial offer?

Peel Financial offers equipment leasing and unsecured/secured loans. You can procure equipment for you business with a 10% payout (fixed or fair market value) with Equipment leasing. For unsecured loans, you will need to provide a good credit and cash flow history. While secured loans on the other hand will need you to provide collateral.

Does Peel Financial cost anything?

It depends on the product you want to use from Peel Financial but some examples of costs include: interest rate starting at 2.5 (the ones with poor credit score differ), penalties, origination fees, cheque cashing and administrative fees.

How do I get started with Peel Financial?

If you're a Canadian resident, you can go on Peel Financial's website and apply online. You will be required to provide relevant personal details and information in relation to the type of loan or lease that you want.

Is Peel Financial safe?

Yes. Peel Financial is safe, it has been operating for over 50 years and has been trusted by businesses for support in truck and equipment services. . They ensure that all personal information are safe.


Peel Financial

September 27, 2022
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