Laurentian Bank announced that it is expanding the range of financing solutions it offers to its commercial clients with the addition of leasing products. With these products, the Bank will be able to provide a new alternative to businesses across Canada for the acquisition of their equipment.
"We are very proud to be launching our leasing solutions today," underlines Stéphane Therrien, Executive Vice-President, Business Services. "Our clients regularly expressed their hope that we would make this option available to them. In fact, our clientele in numerous industries have specific needs with respect to specialized equipment. To complement our leasing product offering, we will provide the support of a team with solid expertise in the principal sectors we are involved in."
Equipment financing constitutes a significant challenge for many companies in view of the major costs involved. Therefore, Laurentian Bank designed its leasing solutions with the aim of providing tangible support to businesses with regard to the modernization of their equipment. By keeping their technology state-of-the-art, businesses will be able to increase their productivity, while enhancing their competitiveness within their respective markets.
It is vital for companies today to be able to obtain financing that reflects the true value of their equipment in order to minimize initial costs and facilitate the acquisition process. That is precisely the rationale behind Laurentian Bank's approach. In addition to enriching the existing line of products currently offered by the Bank, these specialized equipment financing solutions provide clients with greater choice and flexibility when it comes to the acquisition of both new and used equipment.
Laurentian Bank is very active serving the needs of commercial clients across Canada. Via its teams of specialists in Québec, Ontario, Alberta and British Columbia, the Bank offers a comprehensive range of financing, investment and transactional products, as well as foreign exchange transactions and credit documentation, Private Banking, and other services through its Laurentian Bank Securities subsidiary. For its part, the Business Services team has developed specialized expertise, products and services within the real estate financing, energy, infrastructure, transportation, construction, health, agricultural and manufacturing sectors.
Laurentian Bank of Canada is a pan-Canadian banking institution that has more than $34 billion in balance sheet assets and $37 billion in assets under administration. Founded in 1846, Laurentian Bank was selected in 2012 as one of the 10 winners of the Canada's Passion Capitalists program in recognition of its sustained success through the promotion of passion within its ranks. The Bank employs more than 4,200 people.