WELCOME !

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 story credit. Show all posts
Showing posts with label story credit. Show all posts

Sunday, February 24, 2013

Commercial Loan And Business Financing For The Story Credit In Canada







Could Your Company Be The Story ? We’re Going To Tell You Where To Go!




OVERVIEW – . Information on the concept of a ‘ story credit ‘ in Canada . What this term means and how it affects your firms ability to obtain a commercial loan and other types of business financing




Difficulties in obtaining a commercial loan or business financing for your established or start up firm in Canada? First of all you're not alone, and secondly it's because you're what's known as a ' story credit ‘. That's the term that commercial lenders use in Canada when financing needs to be structured uniquely to your firm’s current situation /status. Let's explain!

Given that our Canadian chartered banks tend to be the first ' go to ' when you're looking for financing it's no surprise we often hear the term ' where to go when the bank says ' no' .. ' .. or never.

So when the business owner finds himself or herself in that situation it clearly is a time when they are looking for some real world advice on financing solutions that still might be available. And they are available, it’s just that you need the help an expertise to find and access them successfully.

In a lot of situations we see when talking to clients it’s about not getting enough. By that of course we mean that you can view your financing as your firm’s need to be fed, it’s your job to ensure that appetite is satisfied.

The concept of a story credit still pertains sometimes to traditional financing, but more often than not it comes under the umbrella of alternative finance. It's simply that your firm, for whatever reason, is not ' GRADE A ' today. So you need to properly explain ' the story’

When you're a ' story credit ‘it’s never as important to ensure you are prepared when you are looking for business financing. This is definitely not the case of looking in the yellow pages and making a call - there a bit of work and preparation required! In fact it’s been our observation that a lot of clients we meet have failed in the past to raise the financing they need simply because they present their story properly or fail to document correctly their need for financing.

It's important also to differentiate between equity and debt financing- we're focusing in our discussion here on debt financing and asset monetization. Top finance experts agree that debt financing is pretty well always more costly than equity financing, but the wrong type of debt financing has disastrous consequences.

Don't get us wrong , we're all for more equity, it's just that the journey in dealing with angel investors, friends and family, and initial public offerings or capital pools and VC's can be one of the longest roads you'll take .

There are some sources of debt financing that in fact can be quite creative that you may wish to explore - these might be Community Futures loans, Royalty Financing, loans from high net worth private investors, and even the government?

Did we just say the government?! Well in facto for many firms the government small business loan is a great way to access capital in your start up or early stage. Close to 8000 firms a year, including your competitors, rely on this program which offers great rates, terms, and structures and low personal guarantees.

Other forms of ' story credit' financing when accessing a commercial loan.
They include:

Factoring receivables
Supply chain/PO Finance
Asset based non bank lines of credit
Financing SR&ED tax credits
Leasing Companies which consider less than 'GRADE A 'credits

Our key point today? It simply that if your firm has a unique challenge, or is in the throes of a turnaround you still are eligible for commercial loan and asset finance in Canada.

Seek out and speak to a trusted, credible and experienced Canadian Business Financing Advisor who can assist you with your story credit business finance needs.



Commercial loan business financing story credit expertise




Stan Prokop - founder of 7 Park Avenue Financial –

http://www.7parkavenuefinancial.com

Originating business financing for Canadian companies , specializing in working capital, cash flow, asset based financing . In business 10 years - has completed in excess of 80 Million $$ of financing for Canadian corporations . Core competancies include receivables financing, asset based lending, working capital, equipment finance, franchise finance and tax credit financing.
Info re: Canadian business financing & contact details :

http://www.7parkavenuefinancial.com/commercial-loan-business-financing-story-credit.html


7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Phone = 905 829 2653
Fax = 905 829 2653

Email = sprokop@7parkavenuefinancial.com