National Leasing

National Leasing
National Leasing
Type Public
Industry Leasing, Finance
Founded Winnipeg, Manitoba, 1977
Headquarters Winnipeg, Manitoba, Canada
Key people Nick Logan, CEO
Products Financial services
Employees 280 (Full-time equivalent, 2011)

National Leasing (French: Credit-Bail National) provides financial solutions to businesses across Canada. National Leasing provides equipment leasing services and specializes in small to mid-size transactions.[1] National Leasing is headquartered in Winnipeg, Manitoba.



National Leasing provides financing services in the following markets:

  • Agricultural Equipment Financing
  • Commercial Equipment Financing
  • Golf & Turf Equipment Financing
  • Healthcare Equipment Financing
  • Alternative Energy Solutions

National Leasing does not lease motorized vehicles intended for highway transportation. That includes cars, trucks, vans etc.


National Leasing's Past Head Office Building. 276 Colony Street Winnipeg, MB, Canada.
National Leasing Past Head Office Building. 1558 Willson Place Winnipeg, MB, Canada.
National Leasing's Present Head Office Building. 1525 Buffalo Place Winnipeg, MB, Canada.
  • 1977- National Vehicle Leasing, a division of the Megill Stephenson Company Ltd. enters into its first equipment lease.
  • 1984- National Equipment Leasing becomes a separate division of Megill Stephenson Company Ltd.
  • 1986- National Equipment Leasing Ltd. is incorporated under The Corporations Act of Manitoba and expands its operations and opens a branch office in Ontario.
  • 1988- Royal Bank of Canada is selected as its principal bank.
  • 1990- Expands its operations and opens branch offices in Quebec and Saskatchewan.
  • 1991- NEL National Capital Leasing Inc. (Capital) is incorporated as a wholly owned subsidiary of National Leasing to manage the mid-ticket leasing business.
  • 1992- Commercial Lease Insurance Services Inc. is incorporated to provide insurance services to customers.
  • 1994- Broker relationships are formed and enters into agricultural leasing.
  • 1995- Changes its name from National Equipment Leasing Ltd. to National Leasing Group Inc and enters into loan agreements with Canadian Imperial Bank of Commerce and HSBC Bank Canada. Expands its operations to Nova Scotia.
  • 1997- Expands its operations to New Brunswick.
  • 1998- Enters into an agency agreement with established leasing representatives in Ontario and Atlantic Canada. This agreement provides a sales presence in every major Canadian city. Expands its operations to Newfoundland and Labrador.
  • 1999- Enters into a loan agreement with the Bank of Nova Scotia.
  • 2001- Sun Life Financial provides supplemental debenture financing.
  • 2002- Commences its Asset Protection Program and winds up Commercial Lease Insurance Services Ltd.
  • 2005- Chosen to provide lease administration services to the Royal Bank of Canada leasing group.
  • 2006- Administrative Services commences lease administrative services for RBC Leasing and expands its operations to Prince Edward Island. Winds up Vernon Rentals & Leasing Inc and operates it as a division.
  • 2008- Successfully bids on a Farm Credit Canada request for proposals to provide administrative leasing services for its National Equipment Dealer Finance Program. The National Leasing Inside Sales Group is established.
  • 2009- Enters into a securitization program with Performance Trust and HSBC Bank Canada.

Mergers and acquisitions

  • 1989 - Great-West Life Assurance Company purchases 20% of the issued shares of National Equipment Leasing.
  • 1994 - Enters into its first securitization agreement with Mutual Life Insurance Company of Canada (now Sun Life Financial) and purchases all of the issued shares of NIAS Inc. who in turn will provide system development services.
  • 1996 - Megill Stephenson Company Ltd purchases 20% of the National Leasing shares from Great-West Life. Sun Life and Crocus Investment Fund become shareholders of National Leasing. Sun Life provides subordinated debt financing, in addition to acquiring 10% of National Leasing’s shares capital while continuing to provide funding under its securitization program. Crocus Investment Fund provides the financing required to implement deferred profit sharing plan and over the years acquires 20% of company shares.
  • 1999 - Enters into a securitization agreement with SOUND Trust and Canadian Imperial Bank of Commerce. Amalgamates with Capital and the mid-ticket leasing business continues as a division of National Leasing.
  • 2003 - Enters into software development agreement with Robocoder Corporation and purchases shares. Purchases shares of Affiliated Financial Services Inc., a Montreal-based leasing broker.
  • 2004 - Purchases Great West Leasing Ltd., a Manitoba-based leasing broker.
  • 2005 - Purchases additional shares of Affiliated Financial Services Inc., a Montreal based leasing broker. Purchases Vernon Rentals & Leasing Inc., a Toronto-based equipment rental company. Purchases the shares of its Eastern agent, First Affinity Capital Corp. and enters into consulting agreements.
  • 2006 - Purchases shares of 1345911 Ontario Inc. (Questor Financial), a Toronto-based leasing broker. Enters into a securitization agreement with Storm King Funding and Royal Bank of Canada. Purchases shares of Lease Link Canada Corp., an Edmonton-based leasing broker. Megill Stephenson Inc. purchases the National Leasing shares held by Crocus Investment Fund, from Crocus’ receiver.
  • 2007 - Purchases shares of 2550494 Canada Inc. (Financière Globale), a Montreal-based leasing broker. Sells Vernon Technology Solutions Inc. and sells the assets of Vernon.
  • 2010 - National Leasing is acquired by Canadian Western Bank (CWB).

History of Head Offices

National Leasing Sign.


National Leasing sponsors various organizations and events in communities across Canada including the Winnipeg Humane Society's PAWS in Motion, United Way, Ronald McDonald House and the Juvenile Diabetes Research Foundation.


  1. ^ "National Leasing The Company 2011". National Leasing. 2011. Retrieved 2011-08-25. 

External links

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