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Frequently Asked Questions

Frequently Asked Questions (FAQ)?

All products and services sold by CIMCO Refrigeration are eligible for financing.

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.

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.

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.

In all cases guarantees are required. Personal guarantees may be required in addition to corporate guarantees.

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.

Financial statements are not required with the initial application. They may be required as part of the final credit approval process.

Financing programs range from 24 - 72 months. Other terms can be negotiated based upon the details of the application.

Under our financing program, the product is yours and you have full ownership rights.

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.

Download the application now, or contact your local Cimco Refrigeration office.