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Thanks for dropping in for some hopefully great business info and on occasion some hopefully not too sarcastic comments on the state of Business Financing in Canada and what we are doing about it !

In 2004 I founded 7 PARK AVENUE FINANCIAL. At that time I had spent all my working life, at that time - Over 30 years in Commercial credit and lending and Canadian business financing. I believe the commercial lending landscape has drastically changed in Canada. I believe a void exists for business owners and finance managers for companies, large and small who want service, creativity, and alternatives.

Every day we strive to consistently deliver business financing that you feel meets the needs of your business. If you believe as we do that financing solutions and alternatives exist for your firm we want to talk to you. Our purpose is simple: we want to deliver the best business finance solutions for your company.



Showing posts with label canadian government small business loans. Show all posts
Showing posts with label canadian government small business loans. Show all posts

Tuesday, March 25, 2014

Canadian Government Small Business Loans : The SBL Eliminates Nightmares Around Successful Financing

















Crisis Averted ! Financing Via The SBL Government Business Loan In Canada


OVERVIEW – Information on Canadian government small business loans in Canada . Commonly known as the ‘ SBL ‘ this type of financing has numerous benefits not available to all businesses. Here’s why and how










The ' SBL’ is the common name for Canadian government small business loans
. It's a solid way to start or grow a business, and in its case small is relative, as the revenue cap on the program is 5 Million dollars in projected or actual revenue.

In our experience with our clients the loan is best suited for start ups, acquisition of a franchise, or adding equipment and leaseholds to an existing business.

There are numerous misconceptions around the program, one of which is that the loan is in the form of cash or working capital financing. Bottom line, not the case!

Can an SBL loan avert a financing crisis for the owner/entrepreneur? Quite often if can as it’s a substitute for traditional bank financing which comes with a higher level of criteria for approval.

While business owners think of our Canadian chartered banks as still the lowest cost and trustworthy type of financing it is comforting to know that it is the banks themselves that administer the program for industry Canada. That’s the department that administers and manages the program.

In fact the ' bank' is in fact the ONLY place to get an SBL loan.

We find it somewhat ironic that often the biggest challenge in getting Canadian government small business loans is the challenge of finding a banker that understands and fast track the program. As the majority of bank lending in Canada, if not all, has moved to major commercial centers or the head offices of the banks themselves its difficult to find a banker that is ' on board ' with getting your financing approved under the program. In this case consider seeking out an expert advisor in this area that has a track record under the program.

Successful loans under the program happen when you can articulate a thought out need for the financing, and demonstrating you will have the cash flow to make payments.

The loan cap for the program is 350k, and amortizations are typically 3-7 years. Two quite incredible features of the program are the limited personal guarantee, as well as pre payment without penalty. Why is that incredible... simply because even larger corporations can't escape those terms and conditions when financing assets.

If we had to summarize for our clients the entire process it would come down to:

Ensuring you understand program criteria

Preparing back up documentation

Presenting the request in a positive manner, outlining management experience and company potential - Here a business plan and cash flow projection is required


A financing crisis can often be averted via a successful SBL loan financing. Seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with you loan needs in this program.




Stan Prokop - 7 Park Avenue Financial :

http://www.7parkavenuefinancial.com

Business financing for Canadian Firms , specializing in working capital, cash flow, asset based financing , Equipment Leasing , franchise finance and Cdn. Tax Credit Finance . Founded 2004 - Completed in excess of 90 Million $ of financing for Canadian corporations . Info /Contact :



7 Park Avenue Financial = Canadian Government Small Business Loans Expertise



















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CONTACT:


7 Park Avenue Financial

South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Direct Line = 416 319 5769

Office = 905 829 2653




Email = sprokop@7parkavenuefinancial.com


' Canadian Business Financing with the intelligent use of experience '