An ABL Cover Up? Is The Asset Based Loan That Good When It Comes To Canadian Business Financing?

OVERVIEW – Information on the abl loan facility in Canada . Why is this Canadian business line of credit financing still a best kept secret ? Who’s behind the cover up?!




ABLcover up? It's probably just us, but it sure seems that the Asset based loan business credit line facility is still somewhat of a best kept secret in town - and we do not understand why.

Cover up notwithstanding , let's take a look at how asset based lenders are filling one of the biggest voids in Canada - the ability of small, mid market and even larger corporations, public and private , to secure business lines of credit that meet their needs .

Although clients and everyone else, including us use the term ' loan ' the ABL facility is simply a revolving credit line secured by assets of your company. Those assets can vary in size and mix, but they typically include receivables, inventory, fixed assets, and on occasion, real estate.

The primary focus and driver of the ABL are your current assets, and they would typically be A/R, inventories. Those two seem to drive the majority of asset based financings in Canada.

The good thing about asset based credit facilities is that the business owner or financial manager knows the % margin levels on receivable and inventory up front and therefore also on an ongoing basis . In ABL lending A/R is margined at 90% typically, which is 15% more that commercial bank financing in Canada.

Inventory is always another question, and is analyzed separately on its own merits relative to your product and the different components of any inventory cycle, ie raw materials; work in process (‘WIP’) and finished goods. As an ABL lender better understands your business and operating cycle and quality of assets/clients you'll find your borrowing power ' increases ‘, or solutions are put in place to handle ' bulges'.

The beauty of asset based lines of credit is that they serve a broad number of situations. And those situations? They include start ups, fast growing firms, turnaround situations, high growth scenarios, and dare we say it, even firms that are in distress or in the midst of bankruptcy or debtor in possession scenarios. Talk about a catch all !We feel its important to point out though that ABL financing is not to be viewed as a ' lender of last resort ' / 'when the bank says no' scenario . It’s simply a viable alternative to Canada's mainstay in commercial business credit lines, our Canadian chartered banks. Oh, btw! Some of Canada’s largest and most successful corporations and retailers use this type of facility to finance the entire business.

And would the banks agree with us ?It's a resounding yes because most of them have small boutique divisions within their banks with small ABL teams that in a way almost compete internally for transactions . Hard to believe. Trust us; we've been in those hallowed halls!


We're not saying every aspect of ABL business lines of credit is a cake walk. Most of the time ( not always !) its more expensive, and you’ll be reporting more on asset quality and turnover re aged receivables, inventory lists, a/p summaries, etc . But when you balance all that out against more liquidity that comes sooner, quicker, faster that’s becomes a very positive trade off.

So, you decide, but we’re forgiving ourselves for thinking that ABL financing is a cover up on a good thing. We’re just trying to find the culprits. Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your Asset Finance business line credit needs.




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.






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














Stan Prokop

Fix Your Business Finance & Cash Flow Financing Challenges Today !

Are You Sitting Down ? Your Firm Is Not A Cash Cow ! Take Off Those Blindfolds!



OVERVIEW – Information on business cash flow financing in Canada . Finance solutions for the company that uses, not produces ‘ cash ‘!


Business cash flow finance . We're going to shock you, but your firm is probably NOT a cash cow. That term is reserved for the probably 1% of all Canadian larger corporations that no longer require a lot of new investment in their firm - so that's why if they are running their business well ( collecting receivables and turning over inventory ) they become cash flow generators - they are always generating positive financing inflows. And yes, we're jealous.

So if you're not our friendly CASH COW then what in fact are you? That reality is in fact pretty clear, your firm is not a large mature corporation, you're growing, perhaps you're even a start up, and you need... cash!
A great mentor of ours is often quoted as saying ' you're not a real business person until you've sweated a payroll '. That’s the extreme part of running a business on a day to day basis.

So how in fact does the Canadian business owner or manager determine his or her cash flow financing needs, and when those needs are determined what a solutions are available? You're looking for reliable indicators and even more reliable solutions! In fact it’s this method of looking at and solving your business challenges that will be one of the most reliable indicators of your long term business survival and success.

Having access to solutions and resources around working capital simply allows you to meet your current financial commitment sand grow your business. We don't think there is one perfect solution for all firms when measuring and managing this aspect of your business. But if you use tools to gain solid insights into your current situation the solutions will become a lot more obvious!

At the crux of the business finance challenge is your ability to operate on a daily basis. So while your balance sheet and profit and loss statement tell you the amounts of your assets and your ' paper profit ' respectively its a cash flow analysis that really opens the kimono on your business!

Why does your banker, other lenders and lessors, etc focus on cash flow. Simply because over time it’s a strong measure of your survival. Many people will tell you to calculate your ' CURRENT RATIO' to determine your working capital and solvency. That's actually a very poor measurement in our opinion only because it doesn't measure asset turnover and the actual changes in the working capital accounts of A/R and inventory. On many an occasion we've profile the story of the American dept store W.T. Grant - as it filed for bankruptcy it had a lot of assets and a lot of ' paper ' profit . The only thing it didn’t have was cash and asset turnover; resulting in the bankruptcy.

So what tools do you in fact use to assess your true working capital and cash situation? The most reliable is probably operating cash flow, which simply takes your profit or loss and then asses the changes in your receivables and inventories. Quick example? Let's say your sales grew by 15% but your receivables and inventory in our example grew by 40%. You're using cash, and you're far from CASH COW status. On the other hand if you sales , for example are flat, but your a/r and inventory levels are down over the previous compared period you're well ... along the way to becoming a Cash .... Well we think you get the story!

Solutions in Canada to address business cash flow financing include:

A/R FINANCING
INVENTORY FINANCE
COMMERCIAL BANK LINES OF CREDIT
NON BANK ASSET BASES LINES OF CREDIT
SUPPLY CHAIN /PO FINANCE
TAX CREDIT MONETIZATION
SALE LEASEBACK STRATEGIES

Any one of combination of these, used properly, monetizes assets, and doesn’t increase debt. Structured properly they put THE FIX in your business financing challenges.

Seek out and speak to a trusted, credible and experienced Canadian business financing advisor today.



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/business-cash-flow-finance-financing.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



















Stan Prokop

Here's an article on 7 PARK AVENUE FINANCIAL that appeared in the TORONTO STAR digital publication ' www.YourMississaugaBiz.com


Oakville Entrepreneur Transitions From Corporate Life

Jon Cook - Reporter
February 26, 2013 -


The mega merger of computer giants Hewlett-Packard and Compaq had a
life-changing impact on Oakville entrepreneur Stan Prokop

A few years after the deal was completed in 2001, Prokop found himself out of
work when his job as a credit manager for HP Canada’s financing wing was moved
to New Jersey.

“I had bad dreams about doing deals with Tony Soprano so I went out on my own
for the first time in my life,” joked Prokop, 62, who launched his
Oakville-based loan business – 7 Park Avenue Financial – in 2004.

For a decade Prokop had directed up to $500 million a year in internal financing
for HP, but now found himself trying to hustle for clients.

“It’s always been a challenge for me, because I’m more of a corporate guy than
an entrepreneur,” he confessed. “I did my first business with clients of HP
because I would have been terrified to go elsewhere and knock on doors.”
His first major deal was with Toronto restaurant chain Pizza Pizza, for whom
Prokop had previously helped finance all their call centres while at HP.

While he enjoyed an auspicious start, Prokop’s momentum was halted by the
financial crisis five years ago that dried up credit markets and claimed a
number of small firms.

“In 2008 the world ended in business financing,” said Prokop, who averages about
five deals a month. “It was just really grim and ugly for a year or so. We
survived through that while many people similar to myself didn’t.”

In the last nine years, Prokop said 7 Park Avenue has done $85 million in
financings for about 400 businesses. The deals have ranged in size from as
little as $5,000 to multimillion-dollar loans for clients with more than $300
million in revenues.

With stock markets volatile and credit tough to get for many companies, a range
of small- and medium sized businesses often turn to alternative financing firms
like 7 Park Ave. to get the capital they need to grow.

Last year, Prokop arranged a $1.5 million loan for Mississauga-based biofuels
company Methes Energies Canada, a subsidiary of U.S. parent Methes Energies
International Ltd. (NASDAQ: MEIL).

Michel Laporte, Methes’s chief executive, said one of the reasons he chose
Prokop over a big-name lender was the quickness at which he could put a deal in
place.

“Working with Stan we were able to do this whole thing in a couple of weeks,”
said Laporte, who used the money to complete financing of Methes’s Sombra
biodiesel plant near Sarnia, Ont.

That plant recently won a major order to sell 50 railcars full of biodiesel to a
U.S. customer.

As recognition for its longevity, the Oakville Chamber of Commerce has nominated
7 Park Avenue for small business of the year . The winner will be announced at
the organization’s annual awards ceremony next month. In 2010, Prokop’s firm was
named Oakville’s top service provider.

Prokop specializes in alternative financings, securing loans against a
business’s assets that include anything from equipment, real estate, inventory,
future sales and receivables (also known as factoring).

A lot of his work has been for clients in the television and film industry,
where Prokop leverages tax credits as backings for loans. “We finance the tax
credit that allows the company to make the next show or movie.”
Prokop said he typically charges a one-per-cent fee and has a soft spot for
helping the “little guy,” which he added has likely depressed his revenue growth
over the years.


“I should be looking for a better deal,” admitted Prokop. “IBM or Bell Canada
doesn’t need my help, but there’s a thousand guys out there that are starting a
business that definitely need my help.”

Prokop, of Polish descent, is often confused for local celebrity Skip Prokop,
the founder of 1960’s Hamilton rock band Lighthouse.


The musical theme is one that runs throughout his business, as 7 Park Avenue
takes its name from the London address of British band Badfinger.
“They’re one of my absolutely favourite bands,” said Prokop. “I was a product of
the ‘60s; I played in bands and still play guitar as a hobby and jam with
friends.”


As far as his day job, Prokop said he’d likely retire in the next three years to
spend more time with his wife, who he married at age 50. However Prokop said
it’s unlikely someone will continue his business.

“I don’t think it’s sellable because I’m the only asset. I wish I could sell the
company and the name could continue on and someone could do something with it,
but I don’t have a sense that’s how it’s going to turn out.”

© 2012 Toronto Star Newspapers Limited
Customer Service Phone: 905-361-8683 / efax: 905-361-8684 / Toll Free:
1-888-857-3271 | Email: customerservice@YourMississaugaBiz.com

Financing Equipment ? Best Practices and Success Tips For Operating Leases And Capital Lease Solutions

3RD Down And 110 To Go? Let Equipment Finance Options Solve Your Asset Finance Problems!




OVERVIEW – . Information on financing equipment solutions in Canada. Choosing the right capital lease or operating leases if applicable solves Canadian business finance challenges





Financing equipment challenges. It's almost too easy to have that ' 3rd down and 110 yards to go ' feeling when it comes to asset finance. That's why a properly selected and structured capital lease or their counterpart, operating leases might just give you that ' touchdown' feeling. Let's explain.

The concept of making good decisions around the financing of your business assets solves the problem of reducing capital outlay - and that's whether you're starting a business or if you're a major corporation.

Probably 9 out of ten clients we talk to focus solely on their new found ability, with lease finance, to pay a specific fixed amount every month. They have budgeted for that, they feel they can make the payments, and at the same time the asset or assets financed help them run and grow the business.

That’s a logical and ' ok ' line of thought. But in fact you might be missing the boat when it comes to other major advantages of this method of Canadian business financing - those might include upgrade ability, wrestling with obsolescence and the real useful ' economic life ' of the asset you are acquiring . No more clear an example is when you lease computers, telecom and software, which constantly evolves technologically and requires upgrades and changes to keep your firm competitive.

And we don't want to forget the tax and accounting benefits that come with a properly structured lease - they are key to maximizing the benefits we are discussing. Although operating leases , or ' leases to use assets , not own them ' are somewhat under attack in the accounting world these days they still can provide significant cost savings and flexibility when it comes to purchasing, returning, or extending your asset finance transaction .

The challenge that sometimes seems so simple can actually be your most time consuming when it comes to asset financing and lease financing. That challenge? Figuring out who to deal with! One thing we can say is that lessors are more motivated to approve your transaction, as they are solely focused and in the business of doing one thing - leasing business assets in all categories.

Typical capital lease and terms in Canada range from 2-5 years, and operating leases tend to be in the 2-3 year category - given that they are much related to upgrades, returns, and lower payments coming from your lessor’s investment in the asset. When it comes to capital leases the arithmetic is very simple - the longer the lease term the lower the monthly payment, and if there is a down payment required that of course also lowers the monthly rental on the lease.

Where thing sometimes go awry is when the Canadian business owner or financial manager doesn't quite understand that leases can't be terminated without a penalty of some sort. That's why negotiating the right type of lease, and the right term based on your specific asset being financing is key.

Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your financing equipment needs. All of a sudden 3rd down and 110 doesn't seem so daunting!

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.





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





















Stan Prokop

Working Capital Financing . Introducing A Way To Manage And Finance Your Inventory And Receivable Investments

Working capital quality, not quantity!



OVERVIEW – Information on successful working capital and cash flow solutions around inventory financing and receivable finance





Working capital financing in Canada. As a business owner or financial manager are you 100% comfortable in knowing the signals of when you really have to better manage your business current assets? More so, do you know the tools and solutions that come with that challenge? We think we do, so let’s dig in!

When we talk to certain clients in hindsight around their inventory finance and the receivable investments challenges they make on a day to day basis they are often surprised about how little of some key basics they in fact did not know.

That's because it’s difficult for some to cut through all the finance and financial statement jargon and concepts to figure out the real root of some of those challenges.

What aspect of business couldn’t be more complicated today, whether it’s financing, growing your company, staying on top of the competition, etc?
We're NOT suggesting industrial espionage, but if you knew your competitor had very slow moving inventory or uncollectible or very slow receivables you would be in a great position of profit and exploit market opportunities.

That goes for your firm to, which brings us to the key subject today, the quality of your current assets - i.e. A/R, inventory, and the need and ability to finance them properly.

One of the best ways you can interpret critical upcoming problems in our working capital and cash flow situation revolves around a few ' slick tricks' solutions, as we call them, around your A/R and inventories.

The way most people and even stock analysts look at a company receivable or industry status is to calculate day’s sales outstanding, i.e. DSO, or inventory turns.

But wait; there is even a better way to look at all this! And that is to monitor those two asset categories as they pertain to sales going up or down. If you set up a simple tracking system that captures your sales and a/r and inventory amounts over specific periods of times, i.e. monthly, quarterly, etc ( By the time you get to annually we can guarantee you it will be too late !) you will be able to spot poor collections and growing inventories.

You just might find that sales growth, which hides a lot of problems, is in fact fast becoming your biggest problem. And that's even when your income statement show you're making a profit. (Yes, profitable companies can go under!)

So the bottom line is that growth in A/R and inventory with stable or declining sales will signal huge upcoming cash flow problems. At the same time, the Canadian business owner or manager will get a lot of comfort knowing that if their sales are growing and a/r and inventories are staying the same, declining, or growing commensurately will mean you're a winner in the cash flow and working capital game .

Let's try and illustrate a quick example, which is tougher to do when you don't have a chart in front of you. But let's assume you are tracking A/R, inventory, and sales on a simple chart or spreadsheet. Let's assume for our sample that sales are growing by 20% ( congratulations by the way ) but a/r seems to have ballooned to 100% in that same period?!

What has happened? Simply that yours sales success has shifted problems into your A/R account. And that affects cash flow and cash in the bank.

The solution? Monitor those current assets as we have suggested. And speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with working capital, receivable financing, and inventory finance solutions such as:

A/R Discounting
Supply chain/PO finance
Non bank asset based lines of credit
Commercial bank loans,



Etc!

You've got the power now!







7 PARK AVENUE FINANCIAL
CANADIAN WORKING CAPITAL FINANCING


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/inventory-receivable-financing-working-capital.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















Stan Prokop

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
















Stan Prokop

Government Loans For New Business . The SBL Loan Program In Canada

BREAKING NEWS! YOU ARE ELIGIBLE TO APPLY FOR A GOVERNMENT BUSINESS LOAN



OVERVIEW – .Information on government loans for new business in Canada. The benefits of the SBL loan are substantial for the Canadian entrepreneur and business owner




It shouldn't be, but it is. You are probably eligible for government loans for new business in Canada. The term many people use for this financing is the ' SBL LOAN '. Oh, by the way although thousands of business owners and entrepreneurs use the program for new or ' start up ' businesses you can still be an established business and use the program. Essentially the only rule here is that your business must be under $5,000,000.00 in revenue/sales.

In talking to clients all day everyday one thing is clear, whether its reality or perception the general feeling is that Canada’s chartered banks aren’t doing cartwheels when it comes to being interested in business financing in the SME sector. Those certainly arent the type of bankers we're hanging out with, so we suppose you're just handing out with the wrong crowd!

Experts offer up several reasons re the bank lending scenario - reasons given include small business loans cant be packaged and sold like mortgages, but still require a lot of work, admin, underwriting, etc Many people also offer up that small business loans aren't profitable . Who knows?

Rather than weigh in the eternal discussion of bank lending to business in Canada let's focus in on the benefits of the SBL program. I guess you could say we're staying positive!

The focus around government loans for new business is simply serving the purpose of addressing your financing needs for two asset categories - equipment and leaseholds. (Real estate is allowed also -however the program just doesnt seem to be used much in this regard)

One of the key ' misunderstandings ' around the SBL loan is that isn’t a cash loan or that it can be used to finance receivables and inventory, or goodwill, or franchise fees. Not the case. End of story.

It's important for the Canadian entrepreneur to understand that because the program is SME based that the owner/owners must have a reasonable personal credit history. By that, in Canada we mean a credit bureau score of 650+.

There are reasons why you wouldn’t be approved for an SBL loan in Canada. Your greatest chances of success are when you have a solid business plan or executive summary, as well as a cash flow that represents how you are going to generate profits and cash flow. We don’t recommend showing that you plan to lose money or use cash, not generate it! Some do that, we don't!

Many business owners we meet can't explain or articulate their business, how they make money and key issues in your industry.

Back to those key benefits of government loans for new business:

They include:

5-7 year amortization terms
Competitive interest rates - currently 3% over prime
Low personal guarantee (25% of your loan amount)
Repayment without penalty

Getting approved for an SBL loan is clearly a combination of art and science - we've shared a lot of the ' science '. Seeking an experienced, credible and trusted Canadian business financing advisor will help you match that science with the art of 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/government-loans-for-new-business-sbl-loan.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



















Stan Prokop

Does ABL Loan Facility Financing Give Your Business Credit Needs The Wind In Your Sails You Require?

Looking for a business credit finance boost ?



OVERVIEW – Information on the ABL loan facility financing known as an asset based business credit line




Business credit in Canada. Can An ABL Loan facility financing really provide you with that business ' wind in your sails ' your company needs to generate ongoing working capital and cash flow needs? We think so, and here's why! Let's dig in.

These days, as we’ve noted recently, there isn’t a day when we don’t hear abut the challenges of companies ' stumbling ' when it comes to their challenges in finding working capita and even long term financing. (Today we're talking about working capital/ cash flow)

However, the good news about the revolving door is that it when ' the bank says no ' or the bank says ' yes, but not that much ' there is always an ABL asset based lender willing to step up to bat .

The simple reason that asset based lenders provide the business credit you need is that they are solely focused on the amount, quality and monitoring of your business assets. Those assets? They are receivables, inventory, equipment, and in some cases real estate if that pertains. Our Canadian chartered banks in their wisdom focus on financial statements, ratios, covenants, and outside guarantees. Who is right? We won’t weigh in on that one today; we'll simply say that each institution, the bank and the ABL lender is one of two options to finance your business- we'll let you decide which one works best. While ABL solutions are often more expensive (not always) that’s clearly one of the reasons why companies gravitate to bank financing first. By the way, Asset based lending firms tend to be non bank commercial financing companies, although some Canadian chartered banks have entered the ABL market.

An ABL loan or operating revolver as it is termed offers your firm continuous working capital as long as you have those assets. The key beauty of this type of borrowing is that it grows with you; it’s not set in stone once as year as it might be via a bank approval

Who uses ABL? Pretty well every type of firm in Canada - that includes manufacturers, service firms, retailers, and high technology firms. Again, pretty well everybody! Size of these facilities really determines who you deal with and your overall pricing and structure. Small deals start in the 250k range, while larger facilities can easily be in the tens of millions of dollars. Just to show you the spectrum, a start up can have an abl line of credit, and some of Canada's largest and public corporations have abandoned bank financing in favor of ABL business credit.

A key benefit of this type of business line of credit tends to be borrowing power - receivables are margined at 90%, inventory ranges from 20-70% , and appraisals and valuations done on your fixed assets allow them to be thrown into the mix also . Just imagine being able to borrow daily against the value of your fixed assets. That’s ABL power!

Your firms ability to get approved for this type of borrowing will depend on you ability to produce regular and proper financial statements, as well as the need to ensure you can report on current assets on an ongoing basis - i.e. aged receivables, inventory, etc .

Intrigued? As a Canadian business borrower you should be. Seek out and speak to a trusted, credible and experienced Canadian Business Financing advisor who can assist you with your ABL business credit needs.



7 PARK AVENUE FINANCIAL
CANADIAN ABL LOAN FINANCING 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/abl-loan-facility-financing-business-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











Stan Prokop

Buy A Franchise. Next Step? Franchising Financing Companies And Solutions !

The Other Half Of The Battle – Financing Your Franchise




OVERVIEW – Information on financial info needed when you buy a franchise in Canada . What franchise financing companies and solutions can help



Buy A Franchise . We guess that's challenge # 1. And # 2? It's of course franchise financing companies and solutions that will allow you to realize on the franchisee dream in Canada. That's our job we guess. Let's dig in.

It goes without saying (but we will anyway) that the goal of every new entrepreneur in the franchise industry is to be successful. Putting a proper financing package together with solutions that match your needs, budget and cash flow is what that's all about.

It's really a combination of financing you need to purchase and acquire the franchise and then funds required to run it. Although most franchises are run on a cash flow positive basis - ie cash sales, etc there still is a working component to your transaction. No matter how carefully you've prepared your budget and cash flows Murphy's Law always seems to kick in on occasion.

In Canada the financing that you secure comes from yourself, that’s the equity component, and one or a combination of debt scenarios - your loan / loans. Financing from debt and equity typically covers franchise fees, equipment, leasehold improvements, and potentially a working capital component. Spending some carefull time on the breakdown of those components will save you a lot of grief in the long run. Oh and by the way your banker or commercial lender needs to see those also!

The goal of every business borrower in Canada is to minimize risk - to that extent you should try and avoid securing personal assets at all cost. One way to do that is via an ' SBL '?

An ‘SBL’..? It's the trade name for the Government of Canada Small Business Loan, and hundreds, if not thousands (we’re not really on a first name basis with the govt) of franchisees utilize this program. It was certainly NOT created to specifically address the needs of franchisees in Canada, but boy has it turned out that way.

So why an SBL franchise loan? Some pretty basic reasons really - low competitive rates, limited personal guarantees, no personal collateral, and flexibility as to repayment without penalty etc. That's a powerful combo of benefits in case you haven’t figured it out already.

Franchisees can of course pay cash for their business purchase, and even contribute their own capital to financing the operations and growth of the franchise. However, we've always guided our clients not to collapse RRSP's, take out collateral
Home mortgages, borrow from friends and family. While those solutions work they quite frankly mix up your personal and business finances in an unhealthy way

If you aren’t securing a Govt small business loan for your franchising you need the assistance of a specialized franchise finance firm. Alternatively other Canadian lenders can assist you with solutions based around equipment finance scenarios.

One suggestion? Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your goal to buy a franchise and the solutions available to complete a successful acquisition of a new or existing business in Canada's fastest growing business segment.


7 PARK AVENUE FINANCIAL - CANADIAN FRANCHISE FINANCE 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/buy-a-franchise-franchising-finance-companies.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




Stan Prokop

Have Business Funding You’re Proud Of ? Options And Sources Of Cash Flow Financing Revealed !

We Hate It When We’re Right All Along About Business Financing



OVERVIEW – Information on business funding options in Canada . Access To sources of cash flow financing and debt financing might be closer than you think





Business Funding Options in Canada. And we have to say, this is starting to get embarrassing, because it seems as if these days, all of a sudden all the experts seem to agree with what we've been preaching all along. And to prove it? ... There it was again - a major article just the other day in one of Canada's two best daily business papers entitled ‘ CANADIAN BUSINESSES FALTERING DUE TO LACK OF FUNDING ' - Feb 16/2013

Wow, is it just us or is everyone finally catching on? And the gist of the article - summarized it would be as follows:

There is less mid sized companies these days

Competition and the ability to ' access capital ' were driving businesses to failure

Many mid sized firms are getting smaller, not bigger!

And the solution offered in the article - ' MORE RESEARCH’!!!!! ??????


We're all for academia , but we work in the real world everyday, so lets discuss and offer up some real world solutions on Canadian Business Financing ! And we're talking about financing that you can be proud of when it comes to growth, profits and costs commensurate with your credit quality.

So how in fact do you access sources of cash flow when it comes to assessing need and availability of solutions? Canadian business owners are looking for straightforward solutions to finding funding. Those funds are used for starting, funding, or growing your firm.

In fact we feel that many sources are simply overlooked or not even utilized properly. Oh and by the way, there's probably no one single perfect solution for financing your firm - it’s a mix of pros and cons and risk based on amount and type of business funding you're seeking.

Critical to the aspect of sourcing funding for your firm ( that's beside some expert help!) is ensuring you understand both warning signs of capital issues in your company, as well as the criteria required for the solutions. Those two points can save you a lot of time.

As we have hinted, you only will find out the solutions to your financing needs when you recognized proper warning signs and need. Liquidity is very close to the top of the pile! Your ability to operate daily is key to satisfying senior lenders who have financed your firm

In Canada numerous business finance options are available to bolster your firm’s success. They include:

Asset based ABL non bank lines of credit
Sale Leaseback solutions
Receivable financing facilities - aka ' invoice factoring'
Purchase order/ supply chain finance
Tax credit monetization - (SR&ED)
Working capital facilities that combine A/R and inventory
Unsecured cash flow loans
Government Small Business Loans - ‘SBL’

Your ability to manage and finance asset turnover is key to being proud that you have accessed options that make sense for your firm. Seek out and speak to a trusted, credible and experienced trusted credible and experienced Canadian business financing advisor who can assist you with cash flow sources and business funding options.




7 PARK AVENUE FINANCIAL
CASH FLOW FINANCING 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/business-funding-options-sources-cash-flow.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















Stan Prokop

Leasing Companies In Canada You Need To Know This About Equipment Financing

Looking For The Best Solution ?



OVERVIEW – Information on leasing companies in Canada . Equipment financing, when used properly offers the Canadian company great and flexible solutions for their asset finance needs




Leasing companies and equipment financing. Is it possible that this Canadian business finance method addresses all your needs such as cash flow, accounting and tax when it comes to asset acquisition in Canada? We think so and here's why.

The reality of business asset acquisition and replacement needs is that the Canadian business owner wants to optimize the solution around that need. He or she wants options, flexibility and quite frankly less worry or business stress surround the need to purchase equipment assets.

It's been described that the whole process around equipment finance is in fact a ' cycle ‘, and when you learn how to manage and optimize that cycle you're in a winning position . It's not as difficult as you think, it’s simply entering into the right lease structure, ensuring you have and understand your flexibility and rights in the transaction, and then decided at the end of the term what your best options are re: replacement, sale, upgrades, disposition, return, etc.

The dominant form of equipment financing in Canada is probably what the industry calls ' finance leases'. At their basics they are simply full payout transactions with you owning or purchasing the asset at the end of term. The economics to the leasing company are pretty simple - their profit is the spread between what they borrow at and what your lease rate is.

If that sounds a bit boring... we don’t think it is... but... that's when the excitement begins. Many other benefits and features in the whole leasing cycle can kick in , should you choose, to address cash flow management, end of life options ( that's end of life in the lease by the way!) And various renewal and purchase options that maximize the flexibility we've been talking about.

One of those options we're talking about today is fairly under utilized these days. It’s the ' operating' or ' fair market value' lease, which allows you to consider your asset transactions in a term that many lessors call the ' asset life cycle '. That’s because when you utilize this type of transaction you can invoke your right to change your assets, payments, etc during the term of the lease. Operating or ' FMV' leases are very solid solutions when it comes to assets such as computers, telecom, aircraft, etc. Who wouldn’t want a corporate jet with low monthly payments we think!

Approval on leases comes down to a combination of credit quality of your firm and the focus on the true value of the asset at the beginning, middle and end of term of the equipment financing transaction. Leasing companies in Canada 'price to risk ' and the good news is that the industry can address the entire spectrum of business credit - from start ups, to challenging credits, to blue chip investment grade transactions which are funded at an ultra low cost to your firm if you qualify . Oh and by the way, competition is intense in the industry, so hundreds of firms and intermediaries want your business.

Using an INTERMEDIARY by the way is one of the best ways to address your inter action with leasing companies. A solid intermediary will know the market, have the respect of the industry and be able to deliver you the best asset finance solution at the lowest cost with maximum flexibility.




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/leasing-companies-equipment-financing.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
























Stan Prokop

Buying Financing Or Acquiring A Distressed Business In Canada ?

Easy As ABC .. But Not When It’s ‘ D ‘ !


OVERVIEW – Information on acquiring and successfully financing a distressed /turnaround business opportunity in Canada . Buying such a business comes with some of the following challenges .



Buying / Acquiring and financing a business in Canada might be viewed by some as a ' cake walk '! They might even say it’s as easy as ' ABC ' as the saying goes.

But what about if after that 'ABC ' comes ' D ‘... A distressed or turnaround situation? That's when real challenges arise, so if you or your firm sees opportunity in that type of transaction there’s some solid tips and assistance we think we can provide. Let's dig in!

More often than not the ability of the business owner or manger to capitalize on a distressed business / turnaround situation revolves around the tremendous upside they see relative to price and potential capital and profit appreciation. The challenge though is recognizing clearly that the distress and challenges the firm you're looking at probably came over a long period of time - sometimes years -so thinking about realistically how quickly you can reverse that situation is well worth the thought!

In some cases there are some pretty good companies out there that are plain and simple poorly financed, and by that we mean their overall capital structure. So while they might be profitable, even growing the debt load and cash flow and working capital issues become somewhat of a crisis situation.

Typically you want to ensure the company can have adequate working capital facilities in place. This can be accomplished by looking at solutions such as:

New bank arrangements
Non Bank commercial credit facilities
Receivable and inventory financing
Purchase order/Supply chain finance
Sale leaseback of assets
Government SBL Business loan

etc.!

One other common exercise that provides great value is to in fact examine the ' true value ' of the assets as opposed to current book values that are driven by accounting issues such as deprecation policies, etc. You might find that the true ' net worth ' of the business is in fact a negative number, at which point a solid strategy might be to put in an offer to simply take over the debt of the company, perhaps accompanied by some sort of ' royalty arrangement ' to current owners or management .

We, unfortunately, meet a lot of clients who mistakenly are under the impression that businesses can be bought with no money down, i.e no new owner equity. While that certainly might be a dream of some, it's not reality as we see it! Even if you assumed ownership with no new equity the downside of any existing debt is surely a challenge, as well as all the other operational, employee and client and vendor relationships that come with distressed type business acquisition opportunities.

Remember also that it's difficult, if not close to impossible in Canada to finance share sales, so while they might be highly desirable by the seller, they are very ' unfinanceable' by you, the buyer!

One quick strategy in Canada to uncover potential problems in acquiring a distressed company is to have your lawyer (or you can do it yourself) run what is known as a PPSA search. This search identifies secured creditors and other liens that you wish to know about. Trust us on that one! Another quick technical point in this area is to ensure you comply with the ' BULK SALES ACT ' when you're acquiring assets - as it gives creditors of the business, as well as yourself, the comfort that things have been done properly.

We're told that Warren Buffet was once quoted as saying turnarounds ' seldom succeed '. We're not so sure of that, as we've seen some great ones over the years, but we encourage clients to seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you in properly buying/acquiring and financing a distressed business in Canada with a solid chance of upside longevity.


7 PARK AVENUE FINANCIAL
Canadian Business Financing


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/buying-financing-acquiring-distressed-business.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










Stan Prokop

Business Financing ? Looking To Close A Deal in Acquisition Or Merger Finance In The SME Sector .How An Advisor Get’s You There!

Going It Alone In Business Financing Or Acquisition Finance?


OVERVIEW – .Information on the value and benefit of a business financing advisor when completing a merger or acquisition finance transaction in the SME sector in Canada



Business financing in Canada. Going it alone has its benefits in business and life, but not necessarily so when you don't have the assistance and expertise to complete the financing you need, forge an acquisition, or complete a merger of sorts. That’s when a (good) advisor or intermediary is worth their weight in gold. And he who has the gold...!

The goal seems clear at the start - make an intelligent decision on purchasing or merger with a target, achieving via negotiation the right price, and then completing financing as needed.

Part of the challenge is that top experts agree that the SME sector in Canada that the huge ‘small to medium enterprise’ segment comprising of hundreds of thousands of firms is somewhat under serviced. Bigger and or public companies tend to have all the advisors and assistance they need , but the Canadian business owner or manager looking for reasonably priced but expert assistance is somewhat under served.

It's apparently a free country though, and you can go it alone but that seems mostly driven by a distrust of sorts of the type of expert advice that is out there, and at what cost.

So how can the right intermediary or advisor help? It boils down to several key areas that include helping you validate criteria, putting and analyzing the proper information together, putting forth a deal structure that works, and finalizing the finances you need . So by now it hopefully seems clear that an expert, that ' expertise ' is key to picking someone to work with you.

A good way to do that is ask for the Track Record

of transactions closed and completed, along with the type. That record of success will hopefully reflect size of deals completed, a reputation of professionalism and confidentiality, and the ability to interact successfully and professionally with everyone involved in your deal or financing.

Certain advisors or intermediaries might request ' exclusivity ' on the deal. That's certainly ok and happens a lot; we're personally in favor of people getting paid for tangible results - end of story.


The issue of fees /overall compensation/ work fee- retainer becomes a stumbling block for all parties on occasion, understandably so. What can you do to address these sorts of points? Numerous structures are available to ensure both everyone feels comfortable with who they are dealing with and how success will be measured. That might come in the form of a one time all inclusive Success fee, or combinations of an initial work fee/retainer, or in some cases a monthly retainer, the latter being our own least favorite.

The issues around overall price and value of the compensation of an advisor or intermediary really boils down into several categories.

They include:

Time spent on any transaction

The level of overall commitment to a deal or financing

The overall risk and reward of getting a deal or financing done, or not done!

The concept of ‘incentive ‘as well as the useful information, advice, etc that can be brought to any deal.

Ideally you want to be working with someone who either is or can be working on a first name basis with key players on your transaction. Reputation, specialization, and experience of course create a clear message that a successful deal or financing can be completed in the most efficient time possible.

Key areas of focus should be:

Financing contacts and reputation / negotiation skills/ unbiased advice that is not self serving/ setting reasonable expectations and no conflicts of interest. Also key is the ability to evaluate and present the financials on any deal in a positive manner.

As you can imagine a lot of time can be spent on ‘financing ‘that was never really meant to be. The ability to source and present financing that’s real and available is key. Along the way the intermediary or advisor should provide some strong level of financial/cash flow analysis, etc.

So at the end of the day consider that real value of an advisor or intermediary is the time and experience to get a deal done or on track – the right combo of compensation and success. Seek out and speak to a trusted, credible and experienced Canadian business financing advisor to assist you with your financing, acquisition or merger needs.






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/business-financing-acquisition-merger-finance.html







Stan Prokop

How to Get a Government Small Business Loan in Canada

Looking For 350,000.00 of advice?
That's the Borrowing Cap on The SBL Loan by the way!


Most Canadian business owners and financial managers are not aware that if they have been 'refused 'a loan by a Canadian chartered bank that they can still apply, (to that same bank!) For a government guaranteed Small Business Loan.

We have observed this loan is called a number of things by a number of people -Borrowers refer to it as an 'SBL '(Small Business Loan), or a 'government small business loan. Bankers tend to refer to it by its more formal and legal names, the BIL loan, or the CSBFL.
Whatever you want to call it, the loan is a great part of the governments focus on assisting business with financing.
So how do you get the loan, and what's involved?

Although the loan is directly guaranteed (90%) by the government, the loan is actually administered by the Canadian chartered banks. The government emphasizes that they like the banks to participate in this program, and the government guarantees to the banks the 90% of the loan amount.

The biggest issue, we think, with the program, is the misconceptions that come with the program - business owners think they cal get a 'line of credit 'under the program. This is not the case. In certain instances the program tends to be confused with another program called the COMMUNITY FUTURES program, or government grants .

We’re all for free money, its just that things don’t work that way !

With respect to the Community Futures program it is a separate program that is funded by certain economic regions to promote employment and business in that particular area or geography. It tends to be a bit more 'rural 'in focus. Again, we emphasize, the Community Futures program is not the government guaranteed Small Business Loan. (In the U.S. our government loan is called an 'SBA' loan, as it's administered by a separate organization set up by the government).

So,back to the SBL !! Who qualifies? Hopefully your business! You must have revenues under five Million dollars per annum.
So when should you proceed - We would recommend right now, not when your venture is in desperate need, at which point your chances might be less than successful.

What is the 1 Million dollar issue on the program?! It's as follows - Dealing with banks and paperwork requires proper preparation, detail, and you need to allow for some reasonable time frames. That is your 1 Million dollars worth of advice!!


So what are those key next steps? Ensure you have a crisp financial package - balance sheets and income statements, your personal financial statement of net worth (more on that in a moment) and a clear business plan and summary of your business, the funds needed, and the purpose of the loan. A proper description of any assets being purchased (quotes / invoices, etc) helps also.


The application must re handled by a Canadian bank. Here is where we recommend that if you either don't have a banker, or if you don't have a strong relationship with a bank/banker that you used the resources of a business financing advisor /expert in this area. The nominal fee you might pay this person (1-3% usually) is worth its weight in gold if they have solid contacts and experience.


In our experience many government small business loans are not automatically approved on the first time - they are in fact reviewed and adjudicated by people at the bank that you will never meet. So be prepared to enter into healthy dialogue on any questions or issues that might come up! It is not unusual to go back and forth a bit clarifying any of your issues that might have come up in the application.
So whets the bottom line? It's as follows: this is a solid government financing program. Business owners should understand it's administered by the bank, but not run by the bank, so to speak. Prepare a good package, if you can't, enlist an expert. And be patient, and hopefully those government funds will be 'flowing 'into your firm shortly?



7 PARK AVENUE FINANCIAL







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.



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













Stan Prokop