CWB National Leasing: Inspiring Success for Equipment Finance Brokers
It was September 1977 in Winnipeg, Manitoba, when three entrepreneurial spirits, Robert M. Chipman, Nick Logan, and Tom Pundyk, began an experiment destined to reshape Canadian equipment financing. Their office? A cramped space tucked away behind a local gas station. Their tools? Handwritten leases on scraps of paper and an unwavering belief that equipment leasing could revolutionize business growth across Canada.
At a time when equipment leasing was an almost unheard-of concept, these pioneers made it their mission to make leasing quick, easy, and accessible, not just for vehicles, but for every type of equipment imaginable, from call recorders to heavy machinery. The founders believed deeply in supporting business success through financial solutions tailored to each customer's needs.
“Success isn’t just about growing a company, it’s about meaningful relationships, enjoying what you do, and making a difference,” reflected Tom Pundyk years later.
Though the early days were filled with skepticism and economic challenges, the team’s dedication to exceptional customer service laid the foundation for a company that would grow far beyond its modest origins.
Struggles and Small Wins: Winning Trust One Lease at a Time
The economic recession of the late 1970s, combined with the novelty of equipment leasing as a financial solution, presented immense challenges. Banks were wary. Businesses were hesitant to embrace a new financing model. But the team persisted, making hundreds of cold calls and forging relationships face-to-face.
Every lease signed was not just a transaction, it was a vote of confidence in their vision. By the 1980s, these small victories added up. National Leasing expanded its footprint to Calgary, Edmonton, Vancouver, and Ontario. Behind the scenes, staff grew to over 75 people, combining passion with professionalism.
They moved from handwritten papers to implementing one of the earliest automated Lease Management Systems, operating on technology that seemed futuristic at the time but had less power than the smartphones we carry today!
Nick Logan described the company’s culture as both "fun and hard working," fueling a tight-knit team dedicated to exceptional client service, no matter the obstacles.
Leading Innovation: Making Leasing Faster and Easier
The 1990s ushered in a wave of technological innovation for National Leasing. The company was the first in Canada’s equipment finance industry to launch a website and the revolutionary FastCredit® automated credit adjudication system. This innovation slashed the waiting time for lease approvals from days to mere minutes and was recognized as one of Microsoft’s "Best Software Solutions" of the year.
This transformed not only National Leasing’s efficiency but also the broader industry’s approach to customer service and credit management. The company embraced digital communication early, moving to e-mail and internet technologies to better serve both customers and field sales staff.
At the same time, the culture grew richer. Profit sharing was introduced, staff gatherings became lively celebrations, and the creation of “Café National” at headquarters brought employees together to brainstorm, celebrate, and collaborate.
By the end of the decade, National Leasing employed over 166 people and managed a portfolio exceeding $200 million in net equipment investments, leasing to thousands of businesses nationwide.
Enduring Tough Times with Creativity and Care
Business is never without adversity, and National Leasing weathered the storms of several Canadian recessions and credit market fluctuations. Instead of retreating, the company used these challenges as opportunities for innovation.
To safeguard its future and its people, National Leasing launched insurance services and introduced a profit-sharing plan, fostering employee buy-in during uncertain financial times. Wellness programs, including an onsite gym and health committees, helped create a vibrant, healthy workplace culture.
Tom Pundyk, reflecting on those years, said, “We owe a great deal of our success to creativity and continuous change. This mindset allowed us to serve customers better and innovate constantly, even in difficult times.”
This combination of innovation and care embedded resilience that would carry the company forward for decades.
The National Leap: Joining Canadian Western Bank and Giving Back
The year 2010 marked a watershed moment when National Leasing was acquired by Canadian Western Bank (CWB). This partnership provided a robust financial foundation and expanded reach, enabling National Leasing, now rebranded as CWB National Leasing, to serve Canadian businesses in every province more effectively.
That year was historic: the company surpassed $1 billion in financed leases and maintained monthly funded volumes over $100 million for seven consecutive months. Employee growth continued, alongside investments in modern HR systems and IT security.
Despite rapid growth, community remained core to their mission. CWB National Leasing made a $500,000 donation to the Canadian Museum for Human Rights, illustrating their commitment to societal impact beyond business.
The company’s culture remained strong, with spirited employee events, including a memorable lawn flamingo prank to celebrate their 40th anniversary, underscoring their blend of fun and focus.
Innovation Continues: The Launch of NLi Go! and Expanding Horizons
Facing the unique challenges of the 2020 COVID-19 pandemic, CWB National Leasing once again showcased leadership by launching NLi Go!, a digital platform enabling equipment dealers to create digital storefronts and conduct equipment financing efficiently from anywhere.
This platform was pivotal in ensuring businesses across Canada could continue to access financing despite pandemic disruptions, while partnerships with JLG Financial, Ag Dealer, OnDeck, and People First expanded their product offerings and dealer reach.
NLi Go! exemplifies CWB’s ongoing belief that technology and customer-first values are inseparable pillars of success.
Giving Back and Looking Forward
Beyond its business milestones, CWB National Leasing has consistently contributed to the communities it serves. Millions in donations have funded charitable causes, museums, and civic projects, reflecting deep local roots and a commitment to social responsibility.
Their story is one of constant evolution, grounded in innovation, driven by culture, and focused on supporting Canadian businesses to grow and succeed.
What New Brokers Can Learn
- Start small but think big: Every lease matters.
- Embrace challenges with determination.
- Build a workplace culture that celebrates people and progress.
- Use technology to your advantage (like NLi Go! or EquipLea).
- Serve your community while growing your business.
Why Technology is a Broker’s Best Friend
Today’s equipment finance industry moves fast, and staying competitive means embracing technology. Platforms like EquipLea empower brokers to close more deals with less hassle. Application stages, document tracking, instant quotes, and team collaboration all happen in one place, transforming paperwork into seamless success.
Many brokers say switching to EquipLea transformed their workflows-cutting errors, speeding response times, and improving transparency. For any new broker aiming to grow, smart technology offers the ultimate edge.
Learn more about how EquipLea can help your brokerage thrive in today’s market.