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EconoLease Company Overview
EconoLease is a Canada-based financial services provider founded in the mid-1990s and now part of the SilverChef Group. It specializes in equipment financing and merchant payment solutions for foodservice and hospitality businesses. Its flagship Rent‑Try‑Buy® program allows operators to rent commercial kitchen equipment for 12 months, then choose to return, upgrade, or purchase it with up to 60% of rental fees rebated toward the purchase price. Longer-term lease options—typically 12 to 60 months—are available with nominal buyouts. EconoLease also offers working capital loans and in-house merchant payment processing, often bundled with POS systems via Clover. The company emphasizes fast online approvals, flexible terms, and tax‑deductible leases. With over 85,000 hospitality clients and more than $2.1 billion invested globally, it’s a Certified B Corporation focused on ethical finance and community impact. Customer feedback cited in industry sources often highlights streamlined hospitality equipment funding and complementary payment offerings. Limitations include potential shipping and service responsibilities for returned equipment and rebate timing complexity.