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Get the restaurant equipment you want today and keep the cash you need to operate and expand your business

PAYING UP FRONT for restaurant equipment can be costly and put undue strain on your cash flow — the oxygen of your business.

SilverChef finance allows you to spread out the cost of the equipment and avoid using up the funds you need for your business’s day-to-day operations and future growth.

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1. Get it

You can search for the equipment you need, or allow us to tap into our nationwide network of dealers to help you locate it.

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2. Finance it

We can purchase the equipment for you, alleviating the burden of a large upfront expense and easing the pressure on your cash flow.

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3. Use it

You can rent or lease the equipment from us and make small, periodic payments with the revenue the equipment helps generate.

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4. Own it

You can buy the rental equipment at any point; or take ownership of the leased equipment when the lease term ends.

Choose a finance solution

MOST POPULAR

Rent-Try-buy

May suit you if you're...

A new or established business

In need of $1,000 or more of equipment funding

Looking to try the equipment before deciding whether to buy it, including items you’re not sure about or think you might quickly outgrow.

Key features

Flexible, 12-month rental agreement

New and 'Certified Used' equipment

Manageable, weekly rental payments

Upgrade or buy the equipment at any time

If you buy, get back 60% of your net rental payments — to put towards the purchase price^

Continue renting or return equipment after 12 months

Rental payments are 100% tax deductible. *

Apply Now Read more

Lease-to-keep

May suit you if you're...

A business that's operated for more than 12 months

After at least $10,000 of equipment funding

Looking to own the equipment but would prefer to pay for it in smaller instalments over a longer term.

Key features

48- or 60-month finance lease

New equipment only

Low, monthly payments

Fixed interest rate

Own the equipment at the end of the agreement

Interest component of the lease is tax deductible.*

Apply Now Read more

Considering paying cash for your restaurant kitchen equipment? You might want to reconsider

Benefits of SilverChef finance

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Improved cash flow

Our restaurant equipment financing allows you to acquire equipment without a large upfront cost.

This enables you to retain essential funds for expenses such as wages, rent, stock, utilities, and unforeseen emergencies that are typically not eligible for financing.

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Fast and simple

You can apply for finance online at any time, or at any one of hundreds of equipment dealers across Canada that we partner with.

We can approve online applications of up to $50,000 in less than five minutes; our approval rate is over 94%.

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Unmatched flexibility

With Rent–Try–Buy, you can test the equipment before deciding whether to upgrade it, purchase it, continue renting it, or return it.

In other words, we let you adapt the equipment to the changing needs of your business — flexibility no other financier, cash or credit card can rival.

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Tax benefits

Your Rent–Try–Buy payments are 100% tax deductible.

And you can claim the interest portion of your Lease-to-Keep payments. *

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More or better equipment

Restaurant equipment finance allows you to afford a greater quantity or higher-quality equipment than you could if you relied solely on cash.

This top-of-the-line equipment can improve your business’s efficiency and productivity, enhance the quality of your food and beverages, save you time, and lower your energy or water consumption.

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New or used equipment

We not only finance new equipment, but also sell and finance used restaurant equipment, helping you stretch your budget further.

Our ‘Certified Used’ equipment comprises mostly ex-rental
appliances that have been cleaned and serviced and come with a 90-day warranty.

Find used restaurant equipment

Who our finance is for

Start-ups that...

Start-ups that...

Need to conserve money when the business is experiencing more cash outflows than inflows

Are uncertain about the equipment they need, and would like to test it out

Would like the flexibility to upgrade, buy, or return the equipment as their business evolves

Are ineligible for finance from traditional lenders.

Established business that...

Want to acquire new equipment while remaining cashflow-positive

Are discarding old equipment and want to try the new equipment to confirm its suitability

Need to replace inoperable equipment rapidly to minimize downtime

Are pivoting or diversifying and want to try out unfamiliar equipment before investing in it fully

Are growing and need to free up working capital to invest into other areas of the business.

Established business that...

What our customers say

I was starting a new business and SilverChef sounded like a reasonable way to finance the initial costs as it limits out-of-pocket expenses and allows for tax deductions going forward.

We are a small business that’s growing quickly. SilverChef gave us the ability to get professional equipment without breaking the bank!

Financing our new oven through SilverChef was a key decision to be able to maintain our cash-flow sanity.

We have a small business, so we don't have a lot of money to spend on equipment. [SilverChef] financing allows us to get what we need without having to worry about paying for everything all at once.

As a new entrepreneur it's hard to find the help needed, especially in the hospitality industry. SilverChef is giving me the ability to start my business!

SilverChef's financing is easy and transparent, and they understand the hospitality industry.

The process is smooth, simple and straightforward. SilverChef obviously thinks about bakery and restaurant owners who are too busy cooking or baking to deal with lots of paperwork.

SilverChef offers one of the best financing options for new businesses. The process was very easy and quick and the service outstanding.

I decided to finance my equipment through SilverChef as they can help business owners turn their plans into reality. They’ve got a great track record…and are a trusted company.

Why choose SilverChef for your finance?

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Decades of experience

We’ve been a leading specialist restaurant equipment funder for over 35 years.

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$2B+ investment

We’ve invested more than $2 billion in the foodservices industry.

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74,000+ customers

We’ve helped more than 74,000 foodservices entrepreneurs start and grow their business.

 
WHY WAIT?

Stop dreaming and start doing

Get approval for up to $50,000 in under 5 minutes

Apply now
 

Businesses we finance

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Bakeries

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Bars, pubs & clubs

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Cafes

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Coffee roasters

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Franchises

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Laundromats

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Not-for-profits

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Takeouts

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Restaurants

WHY CASH ISN'T ALWAYS KING

Equipment finance vs cash

‘It’s cheaper to buy outright.’ ‘I prefer to own rather than rent.’ ‘I had the cash.’

These are among the reasons people have cited in the past for paying cash up front for their restaurant kitchen equipment.

While it’s undeniable cash payments are interest-free, restaurant equipment finance offers other advantages that could be more crucial to your business’s success.

Better cash flow
More flexibility
Greater purchasing power
Tax advantages

Paying for equipment up front
with cash means you can't use that money for other important business expenses like wages, stock, or utilities.

If you don’t have a lot of cash on hand, an outright purchase of equipment could make it challenging for your business to meet its short-term debts.

On the other hand, financing
equipment allows you to pay for it in small, regular amounts out of the revenue it helps produce.

This can help your business maintain a positive cash flow.

When you pay cash for equipment, you usually can’t change your mind.

If the equipment doesn’t exactly meet your needs, you’ll have to either put up with it or sell it (probably at a substantial loss)
before buying a new machine, draining your cash reserves even more.

In contrast, Rent–Try–Buy allows you to upgrade the equipment at any time; or, if things don’t work out, return it after 12 months
without penalty.

Or, if the equipment turns out to be perfect, you can buy it from us at any time.

When you pay cash, you’re restricted to purchasing equipment that fits within your budget. This may limit the quality or quantity of equipment you can buy.

Financing, however, gives you more money to spend, enabling
you to purchase greater amounts of and/or higher-quality equipment.

This can help increase your business’s efficiency and productivity, elevate the standard of your food and drinks, save you time, and decrease your energy or water consumption.

Additionally, the equipment is likely to last longer and won’t have to be replaced as rapidly.

The Rent–Try–Buy payments you make weekly are classified as an operating expense.

This means they can be fully deducted from your taxable
income in the year they’re paid.

Cash payments for equipment, on the other hand, are a capital expense.

Normally, you don’t get an immediate tax deduction for capital expenses.

Instead, you can claim the cost of the asset’s depreciation over its useful life, which can span several years or more.

Better cash flow

Paying for equipment up front
with cash means you can't use that money for other important business expenses like wages, stock, or utilities.

If you don’t have a lot of cash on hand, an outright purchase of equipment could make it challenging for your business to meet its short-term debts.

On the other hand, financing
equipment allows you to pay for it in small, regular amounts out of the revenue it helps produce.

This can help your business maintain a positive cash flow.

More flexibility

When you pay cash for equipment, you usually can’t change your mind.

If the equipment doesn’t exactly meet your needs, you’ll have to either put up with it or sell it (probably at a substantial loss)
before buying a new machine, draining your cash reserves even more.

In contrast, Rent–Try–Buy allows you to upgrade the equipment at any time; or, if things don’t work out, return it after 12 months
without penalty.

Or, if the equipment turns out to be perfect, you can buy it from us at any time.

Greater purchasing power

When you pay cash, you’re restricted to purchasing equipment that fits within your budget. This may limit the quality or quantity of equipment you can buy.

Financing, however, gives you more money to spend, enabling
you to purchase greater amounts of and/or higher-quality equipment.

This can help increase your business’s efficiency and productivity, elevate the standard of your food and drinks, save you time, and decrease your energy or water consumption.

Additionally, the equipment is likely to last longer and won’t have to be replaced as rapidly.

Tax advantages

The Rent–Try–Buy payments you make weekly are classified as an operating expense.

This means they can be fully deducted from your taxable
income in the year they’re paid.

Cash payments for equipment, on the other hand, are a capital expense.

Normally, you don’t get an immediate tax deduction for capital expenses.

Instead, you can claim the cost of the asset’s depreciation over its useful life, which can span several years or more.

Frequently asked questions

What kinds of restaurant equipment are eligible for financing?

We finance almost any kind of restaurant kitchen equipment that could help your business generate a profit.

The equipment must have a minimum invoice value of $1,000 (Rent–Try–Buy) or $10,000 (Lease-to-Keep).

Can I obtain finance approval before selecting the equipment?

Absolutely — we’ll happily approve your finance before you go shopping, so you know exactly how much funding you have at your disposal.

(Alternatively, we can approve your funding after you’ve identified the equipment you want to get.)

What do I need to apply for finance?

If you apply for Rent–Try–Buy finance of $50,000 or less, we’ll typically require only three things from you:

  1. Personal identification (driver's licence)
  2. Business number (BN) of the business the equipment is for
  3. The business address (i.e. the equipment's intended location).


After receiving this information, we’ll conduct an identification and credit check before making a decision on your application.

For information on the application requirements for Rent–Try–Buy finance of more than $50,000 or Lease-to-Keep finance, please contact us.

How long does it take to get finance approval?

Approval for up to $50,000 of Rent–Try–Buy finance can take less than five minutes (as long as you provide us with the necessary information and pass our identification and credit check).

If you require more than $50,000, we’ll reach out to you within one business day to request additional information; we should be able to give you a decision on your application within three business days.

Lease-to-Keep finance applications are generally assessed within two business days, provided you’ve given us all the information we require.

Is it necessary for me to use all of my finance at once?

The amount you’re approved for is known as your ‘master-agreement limit’, which is essentially your available credit limit.

You can use some or all of it, as you see fit.

If you use only a portion of it, you can order additional equipment later using the remaining amount.

The good news is your master-agreement limit does not expire, and you won’t have to apply for more finance until you reach your limit. (SilverChef reserves the right to reduce a customer’s limit at any time.)

If you order more equipment and it’s been 12 months or more since your last transaction with us, we’ll run another credit check.

Who is the owner of the financed equipment?

The equipment is owned by SilverChef and is rented or leased to you.

As the owner of the equipment, we’ll register an interest in it on the Personal Property Security Act (PPSA) lien register.

You can use the equipment as you please, but only for business (not personal/domestic) purposes; and as long as you don’t sell, give, assign, lend or release the equipment to a third party without our prior consent.

Also, you must notify us right away if you move the equipment from the location you originally gave us.

If you Rent–Try–Buy the equipment, you can purchase it (own it) at any time. If you Lease-to-Keep the equipment, you’ll own it at the end of lease term, after making your final repayment.

Got more questions? See all our FAQs

* The Canada Revenue Agency (CRA) allows most expenses involved in running a business to be claimed as a tax deduction. These expenses must relate directly to income earned and be used for a commercial (not personal) purpose. They include operating expenses (e.g. rental payments) and capital expenses (e.g. depreciating equipment). This advice is general in nature and does not consider your particular circumstances. You should seek professional advice tailored to your personal situation.

^ If you rent the equipment for more than 12 months before buying it, we’ll reimburse 60% of your first year’s net rental payments and 20% of all subsequent payments — to put towards the purchase price.

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