CFLA stands for Canadian Finance & Leasing Association that represents the asset-based financing, equipment and vehicle leasing industry in Canada. This industry is the largest provider of debt financing in this country after the traditional lenders (banks and credit unions). It crossing the financial services spectrum from manufacturers’ finance companies and independent leasing companies, to banks, insurance companies, and suppliers to the industry. The industry’s customers include Canadian small, medium and large businesses as well as consumers. CFLA is a leading national accounting, tax and business consulting firm in Canada. It proudly serves and respond to the needs of our clients in the public, private and not-for-profit sectors. Through partner-led engagements, we provide a collaborative, cost-effective approach to doing business and personalized strategies to help organizations succeed across the country and around the world.

CFLA has more than 220 members across Canada, ranging from large multinationals to national and smaller regional domestic companies, crossing the financial services spectrum from manufacturers’ finance companies and independent leasing companies, to banks, insurance companies, and suppliers to the industry.

CFLA members are key partners with Canadian businesses and consumers and are a crucial source of funding particularly for small, medium, and large enterprises in this country. As such, asset-based financing touches virtually every business and consumer in our country.

The Canadian asset-based finance market plays a sizeable role in the Canadian economy. In 2018, total assets financed in Canada amounted to $416bn.

CFLA organizes several high-profile events throughout the year, including an Annual Conference bringing together in 500 industry leaders from companies across the sector, networking and informational events organized by its Women in Asset Finance initiative, and an annual Golf Tournament in Toronto.

The Association also conducts several valuable research initiatives to assist members in their industry intelligence and benchmarking efforts. These include the Canadian Market Overview, Canadian Equipment Finance Activity Survey, Business Confidence Survey, Compensation Survey, and End-User Survey.

Moreover, CFLA offers the Canadian Lease Education On-demand (CLEO), a multi-tier education program designed to enhance general understanding of the asset-based financing, equipment and vehicle leasing business in Canada.

In partnership with Dalhousie University, CFLA runs a summer co-op program to facilitate talent recruiting for the industry.


The Canadian Finance & Leasing Association supports, informs, and represents members to advance our industry.


Industry Advocacy. CFLA proactively advocates to key publics (government, media, associations, finance industry) to promote the relevance and impact of the sector and to influence legislation and regulation.

Industry Intelligence. CFLA provides research and information to help members make better informed business decisions.

Professional Development. CFLA provides relevant education and development opportunities to advance industry awareness and member success.

Much of the active work of the Association is conducted within its volunteer in the CFLA and their work includes:

  • Accounting
  • Automotive Finance Working Group
  • Education & Program
  • Fleet
  • Future Leaders Initiative
  • Human Resources
  • Legal
  • Research
  • Small Ticket Funders
  • Tax
  • Women in Asset Finance

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CFLA have some expertise that involved:

  • CFLA’s radar. Proactively bringing forward intelligence, issues, challenges and opportunities affecting the industry
  • CFLA’s sounding board. To react to issue and advise on policy options
  • An exchange on experience, expertise best practices
  • A channel to circulate information relevant the industry
  • The Canadian Finance & Leasing Association represents equipment and vehicle leasing and asset based finance companies in Canada. There are fundamental standards of practice, which should serve as guiding principles for all engaged in the business of leasing and asset-based financing.
  • At all times conduct our activities with integrity, dignity and professionalism and encourage such conduct by others in the leasing industry.
  • Maintain respect for keen competition and seek no unfair advantage by dishonest or unethical means.
  • At all times adhere to the specific terms of funding commitments, commission agreements and purchase orders.
  • Not knowingly make false or misleading statements or withhold information vital to an intelligent business decision concerning any aspect of a leasing transaction.
  • Disclose all relevant information as to the terms and conditions of the lease, which may affect the lessee’s decision.
  • Treat in a fiduciary capacity all funds received from the lessee, which may be returned to the lessee.
  • Hold in strict confidence all financial information supplied by the lessee on a confidential basis.
  • Not make payments directly to an employee of a vendor or business source without that company’s knowledge.

Asset-based financing is the financing of particular equipment and vehicles and related items or services, primarily by way of lease, but also by secured loan or conditional sales contract. The industry complements the work of conventional lenders and classic loans but stands alone as its own alternative way of financing. As its name suggests, asset-based finance is the financing of a specific asset: a vehicle or piece of equipment, commonly by way of a lease, loan, conditional sales contract or by a line of credit. The customer doesn’t actually own the equipment or vehicle; the financing company owns it until the customer buys it or returns it. This has implications for both the financing company and the customer. It affects the way a financing company decides on applications. The essential determining factor is not customer net worth, as it would be in conventional lending, but cash flow. The asset is the principal collateral for the customer’s obligation to make regular payments. Asset financing is less about how much money you need and more about equipment or vehicle selection and model specifications. Since its very beginnings, the people in asset-based finance have become experts in different equipment and vehicles and how they will be used. They must understand the equipment or vehicle and its value at every stage of its useful life. From receipt of the customer’s application to the asset’s return or repossession, the finance company must know what the asset is worth and how it is used. This is crucial to safeguard its position. In the case of a lease, finance companies must accurately forecast the value of the asset in the event they get it back several years later. The services of the leasing industry are complementary to traditional banking and other financial lending in providing incremental capital to increase the pool of available credit in Canada and provide a vital competitive alternative in the financial services sector.

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