Interview: Mr. Sukhbir Dhaliwal – Owner of Peel Financial

Interview with Mr. Sukhbir Dhaliwal – Owner of Peel Financial, Ccanada’s leading equipment financing source

Mr. Sukhbir Dhaliwal is a owner of Peel Financial and founded Peel Financial in 2007. Peel Financial is a Canada’s leading equipment financing source.

The company has over 20 years of experience in providing affordable and innovative heavy equipment financing solutions across industries in Canada.

Tell us a little about yourself

Sukhbir Dhaliwal: I had quite a humble upbringing. I was raised in a working-class family in India that  placed the most importance on education, being self-sufficient and financially  independent.

My father worked in Indian Air Force for nearly 35 years and my mother  was primarily a home maker, who also started a small hosiery business working from  home.

I spent most of my student life moving from one city to another as my father  would frequently get reposted as part of his job working for Indian armed forces.

I completed my degree in Bachelor of Engineering from MGM’s College of Engineering,  Nanded in 1994, specialising in Electronics and Telecommunications.  

After completing my degree, I took up few junior roles in India. And when an  opportunity from Canada came knocking on the door in 1997, I just could not say no.  

And the rest is history. I landed with a 20-dollar bill in my pocket and Canada, which I  was told was the land of opportunities, didn’t disappoint.  

Please tell us a little about your entrepreneurial journey

Sukhbir Dhaliwal: After landing in Canada, I worked in quite a few sectors ranging from food, hospitality to  Sales. While working in the sales sector my priority was to build trusted client  relationships; understand their business needs; provide the best professional service in  the market.

Knowing the difficulty faced by many of my clients in securing the much needed finance for buying business vehicles coupled with poor customer service, I felt  there was a massive gap in the market.

To bridge this gap, I ideated to bring multiple  lenders across Canada under one roof to provide my customers with customized  financing solutions for their growing businesses.  

And this was how Peel Financial came into existence and has grown strength to strength  over the years.

Kindly brief us about your company, its specialization, and the services that it  offers

Sukhbir Dhaliwal: Peel Financial is Canada’s largest independent equipment financing source with over 20+  years of experience.

I came up with the idea of providing innovative and affordable  financing solutions to businesses throughout Canada back in 2002.

What started as a  small one-man business from my bedroom has grown into 70+ people company with  offices across Canada.

Today, we have our head office in Brampton, Ontario and regional  offices in British Columbia and Manitoba.

We have recently acquired another retail  facility in Alberta and plan to expand throughout Canada and the US in the coming years  and months.

At Peel Financial, we provide loans and leasing options for a wide range of businesses;  from a laptop computer to a truck/trailer or a multi-million-dollar piece of equipment. If  it generates revenue for your business, we can finance it!

We not only provide the best financing solutions available in the market, we can also  help you source the best equipment at the most competitive price.

We have established  relationships with over 30 lenders across Canada, which results in the lowest interest  rates and highest approval ratio of all equipment leasing companies.

My team of  dedicated leasing professionals, with over 20+ years of experience, ensure that our  customers obtain lease financing that works for them and their business.

We are here to  support you throughout the financing process, but more importantly, throughout the  term of the lease. 

What made you choose this type of business?

Sukhbir Dhaliwal: While working in the sales sector, I realised my true strength was in building customer  relationships and establishing that rapport with my clients.

Once I knew the sector I  wanted to work in, establishing the actual brand was quite seamless. The concept of  heavy equipment leasing brokerage with multiple lenders under one roof was a niche idea back in early 2000s.

Truckers all around Canada were crying for a business they  could trust and rely upon, when financing their new and used equipment. Peel Financial  came to their rescue and has not looked back since.

What was your mission and vision at the outset?

Sukhbir Dhaliwal: My mission has always been to provide an honest, most affordable and the best professional service in the market.

Today majority of our client base is repeat customers and our customer satisfaction ratings next to none in the industry.

At Peel Financial we  truly believe that customer services shouldn’t just be a department, it should be the  entire company. A happy customer has always been and will remain our top most  business strategy.

My vision is to expand Peel’s footprint in Canada by opening an office in every Canadian  province. We also plan to expand outside of Canada and currently are in advanced  stages of opening our first office in the US.

I would also like to expand our online  footprint by investing in new and upcoming technologies. And as always, we will keep  working on reaching out to new lenders and strengthening our relationship with our  current panel.

I have no doubt by the end of 2027, we will be consistently hitting yearly  funding targets of CAD 1 bn plus.

What is your Leadership Mantra?

Sukhbir Dhaliwal: I believe Honesty and Integrity is the key leadership mantra in building trusted  relationship with your customers and employees.

Whether it’s acknowledging  mistakes, or giving credit for achievements, or being open and transparent about the  business deals, great leaders always exhibit integrity. When people see evidence that  leaders lack integrity, that can be nearly impossible to recover from.  

Good communication skills cannot be underestimated. Leaders must motivate,  instruct and discipline the people they oversee. Leaders who fail to develop these  skills are often perceived as being weak.

The best leaders also understand the loyalty is not a one-way street. True loyalty is  ensuring that all team members have equal opportunities and are treated with  fairness.

It’s standing up for your team members in crisis and conflict. Employees  who believe leadership is loyal to them are much more likely to show their own  loyalty when it matters.

A good leader always empowers his employees and allows them to grow and express  themselves. When employees are empowered, they are more likely to make  decisions that are in the best interest of the company and the customers.

What does it take to be a successful entrepreneur?

Sukhbir Dhaliwal: To be a successful entrepreneur it’s essential you have sincere dedication and  unparalleled enthusiasm for your business and its products. Your employees and  customers can recognise insincere cheerleading from a mile away.

In this day and age, the nature of business is ever-changing and new challenges and  opportunities present themselves at every turn.

A successful entrepreneur must be  adaptable and have the ability to quickly evaluate situations and remain flexible to ensure their business keeps moving forward, no matter what unexpected changes  occur. To be successful, an entrepreneur must be willing to make difficult  decisions and stand by them.

A successful entrepreneur must prepare themselves for and be comfortable with the  possibility of failure. Rather than let fear of failure hold them back, they allow the  possibility of success to propel them forward.

What was the inspiration behind turning an entrepreneur?

Sukhbir Dhaliwal: My inspiration has always been customers and my employees, whom I treat as my  extended family. There is no bigger inspiration than seeing a beaming smile I bring  on the faces of my returning customers, day in and day out.

My customers know that  my team and I won’t give up until we secure the best deal in the market for them.

And what better inspiration in this world than knowing that I am able to support and  empower 70+ employees and their families through my business.

Investment Tips for young entrepreneurs

Sukhbir Dhaliwal: My most important tip to any young entrepreneurs would be to spend time  researching your project; allocating it a well-defined budget and then stick to that  budget.

The time spent budgeting would help you differentiate between the “must  haves” and “nice to have” for your project.

You must also ensure you are ready for  any downturns in the market by saving up for a contingency fund.

It’s how prepared  you are to weather the storm when hurdles arise would the ultimate key to a  successful investment.  

What is the relationship between money and success?

Sukhbir Dhaliwal: It’s not uncommon for people to measure their success based on the size of their  bank accounts. I feel success should be measured by qualitative standards, not  quantifiable ones like the money one owns.

True success for me is the quality time I  spend with my loved ones, the positive impact I have on others or the balanced life  style I lead.

Feeling of happiness, fulfilment and success are not reserved only for  those who have lots of money or material possessions.

Those who wake up in  gratitude face each day with a brightness of hope. I believe this hope is worth a lot  more than the money one owns.

If you had one piece of advice to someone just starting out, what would it be?

Sukhbir Dhaliwal: I have always believed if opportunity doesn’t knock it’s time to build your own door.  A successful business won’t just fall in your lap.

You must believe in yourself and take  a leap. Small steps lead to big things. Just be honest to yourself and put your best  foot forward.

And be ready for challenges you might face along the way. Success  isn’t an overnight phenomenon. As long as you are ready to persevere and not give  up on your goals, you are bound to succeed!

Habits that an entrepreneur should adopt

Sukhbir Dhaliwal: Developing the right habits can take you a long way in your entrepreneurial journey.  Networking and creating strong relationships with others ought to be on the top of  the list.

Successful entrepreneurs understand that they can’t do everything alone  and need the right people around them to help them succeed.

Ability to adapt and  learn from one’s mistakes can never be underestimated. Time management, staying  organised and being persistent with your goals is something every entrepreneur  must adopt.

Website: https://www.peelfinancial.ca

Read more Success stories of Indian entrepreneurs, Women Entrepreneurs & startups stories at SugerMint.