Financing & Leasing
Financing & Leasing for Contractors
A fully equipped spray foam rig runs $150,000–$250,000+ CAD. Most contractors don't pay cash for that — they finance it, the same way they'd finance a truck. We work with equipment lenders who understand the spray foam trade and structure terms around a rig's real earning power, not just a credit score.
Why finance instead of buying cash
Tying up $150K–$250K in cash on day one leaves nothing for chemical inventory, a second crew, or the slow months before your pipeline fills in. Financing spreads that cost over the rig's working life while it's already generating revenue. Most Canadian SPF contractors — from a solo operator buying their first trailer rig to an established shop adding a second truck-mounted unit — finance rather than pay out of pocket.
What financing does for your business
Preserve working capital
Keep cash on hand for chemical sets, payroll, and fuel instead of parking it in one asset.
Start or scale faster
Approved contractors are often spraying within 2–4 weeks of application instead of waiting a season to save up.
Predictable monthly cost
Fixed payments make it easy to price jobs and budget against a known rig cost per month.
Bundle with supply
Pair equipment financing with a chemical supply agreement for smoother cash flow through your first year.
Term loan vs. lease-to-own
The two most common structures for spray foam rig financing are a fixed-term equipment loan and a lease-to-own agreement. Which one fits depends on how long you plan to keep the rig, whether you want to claim depreciation, and how much you have available for a down payment.
| Product | Term Loan | Lease-to-Own |
|---|---|---|
| Typical term | 36–60 months | 36–48 months |
| Down payment | 10–20% of rig cost | First & last payment, or $0–10% down |
| Ownership | You own it from day one | You own it at end of term / buyout |
| Best for | Contractors with an existing business credit file | Newer contractors building credit history |
| Tax treatment | Depreciation (CCA) available immediately | Lease payments may be fully deductible as an expense |
| Early payoff | Usually allowed, some lenders charge a fee | Buyout figure set at signing |
Speak with your accountant on CCA treatment and lease-expense deductions — this page is general information, not tax advice.
Financing for new vs. established contractors
New / startup SPF businesses
- Time in business
- 0–2 years accepted with stronger down payment
- Down payment
- Typically 15–25%
- Personal guarantee
- Usually required
- Approval focus
- Personal credit, industry experience, business plan
Established contractors
- Time in business
- 2+ years with SPF revenue history
- Down payment
- As low as 0–10% on strong files
- Personal guarantee
- Often waived above a revenue threshold
- Approval focus
- Business credit, cash flow, existing equipment payment history
What lenders ask for
Equipment lenders that work with the spray foam industry move faster than a bank because they already understand what a Graco Reactor or PMC proportioner is worth as collateral. Have these ready before you apply:
- Void business registration / incorporation documents
- Last 3–6 months of business bank statements
- Down payment funds (or trade-in equipment)
- A rig/equipment quote from us (specific make, model, price)
- Personal credit authorization for the guarantor
- A short summary of your job pipeline or contracts, if available
Bundling equipment financing with a chemical supply agreement
New rig owners often underestimate the second cost of starting a spray foam business: chemical inventory. A financed rig without a chemical plan sitting in the yard doesn't generate revenue. We can structure a combined arrangement — rig financing plus a committed chemical supply agreement with priority stock allocation — so your first sets are already accounted for the day the rig is delivered. This is especially useful heading into spring, when open-cell and closed-cell demand spikes across Ontario, Alberta, and British Columbia and supply can tighten.
In practice, a bundled arrangement means the same underwriting file covers both pieces: the lender sees a rig purchase paired with a committed chemical volume, which some lenders treat as a stronger file than equipment financing alone, since it signals the business already has a supply plan and not just a machine. On our side, priority stock allocation means your first two or three chemical orders are reserved against our inventory ahead of the spring rush rather than competing with every other new account placing a first order in the same six-week window. For a startup contractor, that often means the difference between spraying your first job within days of rig delivery versus waiting on a chemical order that got queued behind established accounts.
| Product | Financing Only | Bundled Rig + Chemical Agreement |
|---|---|---|
| Chemical availability at delivery | Ordered separately, standard queue | Priority allocation, reserved ahead of delivery |
| Underwriting file | Equipment purchase only | Equipment + committed supply volume |
| Spring pricing exposure | Subject to standard seasonal pricing | Can be paired with pre-buy rate lock |
| Cash flow, first 60 days | Rig payment + separate chemical purchases | Combined payment structure, fewer surprise invoices |
| Best for | Contractors with an existing chemical supplier | First-time rig owners without a supply relationship yet |
Financing FAQs
Can I finance a spray foam rig if I'm a new/startup contractor?+
Yes. Startup contractors are approved regularly, typically with a higher down payment (15–25%) and a personal guarantee. Lenders weigh industry experience and a clear business plan alongside personal credit.
What's the typical down payment for a financed spray foam rig?+
Most term loans require 10–20% down. Established contractors with strong revenue history sometimes qualify for 0–10% down; newer businesses should budget closer to 15–25%.
Do you offer lease-to-own options on proportioners?+
Yes. Lease-to-own is common on Graco, PMC, and Gusmer proportioner packages, usually structured over 36–48 months with a buyout figure set at signing.
How much does a fully equipped spray foam rig cost in Canada?+
A new, fully equipped trailer or truck-mounted rig — proportioner, generator, heated hose, gun, and enclosure — typically runs $150,000–$250,000+ CAD depending on output rate and configuration.
What's the difference between buying new vs. a refurbished rig?+
New rigs carry full manufacturer warranty and current emissions/generator specs, at a higher upfront cost. Refurbished rigs cost less and can still finance, but expect a shorter warranty window and budget for wear items like hoses and pump seals sooner.
Can I lock in pricing ahead of the spring/summer busy season?+
Yes — combining a financed rig purchase with a seasonal chemical pre-buy is common. Ask about our contractor pricing program when you apply for financing.
Ready to talk financing?
Tell us the rig configuration you're considering and we'll connect you with lending partners who understand the spray foam trade.