What products are eligible for financing?
All products and services sold by Cimco Refrigeration are eligible for financing.

How much can I finance?
You can finance up to 100% of the project subject to credit approval. Federal (e.g. GST & HST) and Provincial (e.g. QST) sales taxes are not eligible for financing.

What interest rates do you offer?
The interest rates are based upon Government of Canada bonds of equivalent period. The rate charged will range from 2.4% to 7% points over the bond rates. The rate will depend upon credit risk, collateral, guarantees and the covenant of the borrower.

Are there any other costs?
All files are subject to a file set up fee. The file set up fee will be $2,000 or less depending upon the complexity of the transaction.

What type of collateral is required?
The products and services to be financed is the collateral. To secure Cimco’s interest in the products and services further registrations of the transaction may be required.

Do I have to personally guarantee the financing agreement?
In all cases guarantees are required. Personal guarantees may be required in addition to corporate guarantees.

What financial information is needed to provide a complete application on behalf of corporations, partnerships or individuals?
We require two years of audited or reviewed financial statements. If audited or reviewed statements are not available, we require two years of tax returns. If this application is on behalf of a new organization or if it does not meet the criteria identified above, statements or tax returns are required of the guarantor.

What financial information is needed to provide a complete application on behalf of municipalities?
Financial statements are not required with the initial application. They may be required as part of the final credit approval process.

How long is your typical financing program?
Financing programs range from 24 - 72 months. Other terms can be negotiated based upon the details of the application.

What happens at the end of the financing term?
Under our financing program, the product is yours and you have full ownership rights.

How long does the application process take?
Upon receipt of a completed application with financial statements, the application will be processed within 5 business days. Should the application not be approved as submitted, you will be notified as to the amount of financing available and what is required to secure approval.

Where can I get an application?
Download the application now, or contact your local Cimco Refrigeration office.