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EconoLease Business Loan
Loan Amount
Up to $300,000
Loan Term
6 to 12 months
Minimum Revenue
Make at least $15,000 per month in sales
Minimum Time in Business
6 months
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Grow your business with targeted financing solutions designed for businesses working in the food-service industry. 

Econolease is a specialized private lender that provides working capital loans up to $300,000 with terms between . You get fixed repayment terms, and you can choose between daily and weekly payments.

EconoLease can give financing within 3 days. You can use your business loan for restaurant renovations, inventory, repairs, emergencies, seasonality and marketing.


  • Fast financing
  • Less strict criteria than financial institutions
  • Flexible financing options


  • May be more expensive than banks

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What is Econolease?

EconoLease provides financing to more than 3,000 restaurant owners each year. It has been operating for over 30 years.

What types of financing does EconoLease provide?

  • Working capital loans. Get financing to cover renovations, buy inventory make repairs pay for unexpected expenses and more.
  • Equipment rentals. You can rent equipment through Econolease instead of taking out a loan to purchase it directly. Simply pick the model you want and make a monthly payment plus interest on the sale price. The benefit of this option is that 60% of every payment you make will be applied to purchasing the equipment, and you can renew your contract when your term is up.
  • Equipment leasing.
  • BuyNowPayLater. Buy restaurant equipment through EconoLease‘s BuyNowPayLater service. Make weekly payments with 0% financing.
  • Franchise systems. EconoLease offers tailored financial solutions for chain and national accounts.
  • Payment processing. You can get the Clover POS system through EconoLease.

Pros and cons


  • Instant access. If you qualify for a working capital loan, you should be able to access your money in as little as 3 days.
  • Competitive rates. You’ll get competitive rates on all financing options, with a fixed repayment plan designed to meet the needs of your business.
  • Working capital loans. You can use your working capital loan to pay for business expenses like inventory, maintenance, emergencies and marketing.
  • Rentals and leases. You can easily rent or lease equipment if you want to reduce your costs for equipment upgrades.
  • Tailored to your business. EconoLease will work with you to make sure that you can qualify for the money you deserve and make your repayments.
  • Good customer service. You can access a customer service agent over the phone, via email and online if you run into any issues with your application or loan.
  • Repay early. You can pay off your working capital loan early without facing penalties.


  • Short terms. Working capital loans have short terms, which can make them difficult to repay, depending on how much you borrow.
  • Costs of doing business. You’ll need to pay interest rates on working capital loans and additional sales taxes on leases and rentals.
  • Minimum monthly sales. Your monthly sales have to be at least $15,000 if you want to qualify for a working capital loan.
  • Startups can’t apply. You won’t be eligible to borrow money if your business is less than 6 months old (though you may be able to rent or lease equipment).
  • Industry-specific. EconoLease specializes in the food-service industry, so you may not qualify for financing if you don’t work in this sector.

Compare other business loans

1 - 3 of 3
Name Product APR Range Loan Amount Loan Term Minimum Revenue Minimum Time in Business Loans Offered Broker Compliance
Journey Capital Business Loan
16.00% – 25.00%
$5,000 - $300,000
4 - 24 months
6+ months
Term Loan, Line of Credit, Merchant Cash Advance
To be eligible, you must have been in business for at least 6 months with a minimum annual gross revenue of $100,000.

Journey Capital offers fast and simple financing. Apply in less than 10 minutes with your basic business information and see your loan offers without hurting your credit score. Get approved within 1 business day, and choose your term, amount and payback schedule once approved.
Merchant Growth Business Loan
12.99% – 39.99%
$5,000 – $800,000
6 – 24 months
$10,000 /month
6 months
Unsecured Term, Line of Credit, Merchant Cash Advance
To be eligible, you must have been in business for at least 6 months and have a minimum of $10,000 in monthly sales.

Merchant Growth offers financing tailored to business needs. It specializes in providing capital based on future cash flows, but it also offers fixed solutions. Fill out an application within 5 minutes and get your funds within 24 hours.
Loans Canada Business Loan
6.60% - 29.00%
$4,000 - $500,000
3 - 60 months
over $10,000/month
100 days
Unsecured Term
Loans Canada is a loan search platform with access to multiple lenders. Applicants will be matched with a suitable lender based on credit history and borrowing requirements.
To be eligible, you must have been in business for at least 100 days, have a Canadian business bank account and show a minimum of $10,000 in monthly deposits ($120,000/year).

Loans Canada connects Canadian small business owners to lenders offering financing up to $500,000. Complete one simple online application and get matched with your loan options.

Do I qualify for an EconoLease Business Loan?

Below are a few basic eligibility requirements.

  • Own a business that’s been operating in Canada for at least 6 months.
  • Make at least $15,000 per month in sales.
  • Have a physical location.

How do I apply?

If you think you meet all of the eligibility criteria to apply for financing with EconoLease, you can do so quickly and easily.

  1. Choose the type of loan, lease or rental agreement that’s the best fit for your business.
  2. Complete the online application, which includes providing your business and personal information.
  3. Review and submit your application.

Required documents and information

  • How much your equipment costs
  • Type of business
  • Legal structure of business
  • Business address
  • Time in business
  • Business phone number
  • Void cheque
  • Landlord information
  • Personal name
  • Personal phone number
  • Home address
  • Rent vs. own
  • Date of birth
  • Driver’s licence, passport or insurance card

Bottom line

EconoLease works with businesses in the food-service industry to give them easy access to working capital loans along with equipment financing. Whether you are a small or large business, EconoLease will work with you to create customized financing that fits your needs.

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