Recent data shows that U.S. homeowners spent an estimated $567 billion on home improvements and repairs in 2022, an increase of 15% from the previous year. That number is expected to continue to grow this year. Moreover, the top priority for homeowners this year will remain home improvement projects rather than moving into another property, largely because of persistently high mortgage interest rates.

In order to become a successful business, companies need to have the right equipment. But often that equipment, which can make or break a business, is too pricey. That’s where equipment financing provides the necessary financial support to get a business up and running.

Millions of small businesses call Canada home. In fact, according to the most recent data from Innovation, Science and Economic Development Canada (ISED), a department of the Canadian government formerly known as Industry Canada, nearly 98 percent of the country’s total employer businesses are classified as “small,” with fewer than 100 paid employees.