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Equipment leasing
Business borrowing

Equipment leasing

Leases provided by Prospera Equipment Finance.

Important Notice for Prospera Equipment Finance Customers

After thoughtful review, we’ve made the difficult decision to wind down Mercado Capital Corporation, operating as Prospera Equipment Finance.

Effective September 1, 2024:
  • We will no longer be accepting new equipment lease applications.
  • Approved applications will be funded up to September 30, 2024.

Please note:
Existing leases will continue until their maturity. However, no renewals or refinancing options will be available, so we encourage you to explore alternative financing options. For inquiries about maturing leases or day-to-day questions, please contact us at leasing@prospera.ca with your lease number, name, and preferred contact method. We greatly value your business and thank you for choosing Prospera Equipment Finance.
 
 
 

Frequently asked questions

When you update your bank accounts, we must add your new information to our records to ensure that your account does not go into arrears. Send a copy of a voided cheque (write “VOID” across the front of the cheque) for your new account by email to leasing@prospera.ca. Be sure to include your name, lease number and a phone number at which you can be reached. Note that it can take up to 5 business days to update our records.
In order to properly register, license, and insure your equipment, a power of attorney may be required. This document permits you to act on behalf of Prospera Equipment Finance when establishing insurance and registration. If you require a Power of Attorney, please email leaseinsurance@propsera.ca or call us at 604-528-3802.
Lessees are responsible for placing and maintaining active insurance for all leased equipment.
Most equipment leasing contracts require that you prove that the leased equipment is insured. Your insurance company should provide you with a copy of the policy. If you do not have a copy of the policy, you must contact your insurance company to obtain a copy. This should then be emailed to leaseinsurance@prospera.ca. Be sure to include your name, lease number and a phone number at which you can be reached.
Lessees are responsible for equipment repair and maintenance. Lack of maintenance will erode the equipment’s equity.

Please refer to you lease agreement. If you cannot locate your lease agreement, please reach out to us by phone or email.

To request your lease number:

At lease end, lessees are responsible for paying out the remaining balance of the lease. Once paid out documentation facilitating ownership transfer will be provided.
We know that experiencing an accident or theft can be incredibly stressful, and we're here to support you every step of the way! If your equipment has been involved in an incident, the first step is to submit a claim through your insurance company. For repairable equipment, your insurance provider will help co-ordinate the repairs, with any deductibles determined by your policy.

If your equipment is deemed a total loss, don’t worry—reach out to us, and we’ll provide personalized guidance and support throughout the claims process. Our dedicated team is committed to making this experience as smooth as possible for you.
 

Let's start with a conversation

To speak with one of our team members about your equipment leasing needs, please contact us:

Email: leasing@prospera.ca
Phone: 1 844 528 3802 
Equipment leasing is provided by Prospera Equipment Finance a business name of Mercado Capital Corporation, a subsidiary of Prospera Credit Union.