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.



Friday, October 18, 2013

Business Loans In Canada. Here’s Some Intelligence For Commercial Loans Approvals





Want An ‘ Out Of The Box ‘ Path To Business Loan Success In Canada?


OVERVIEW – Information on successfully securing business loans in Canada. What are the ingredients to successful commercial loans approvals




Business loans in Canada
, unfortunately, don’t come in an ' out of the box ' path to instant approval. So lets explore some real world ' market intelligence' around commercial loans in Canada. Let's dig in.

The reality around preparing for a business loan financing involves considering who the submission is for. In some cases it might be for a bank, in other cases a commercial finance firm. The far end of the spectrum of a private equity or VC type financing definitely requires a business plan. However, that’s ' equity '... and we’re talking debt!

So a key point out of the gate is to focus business loan submissions around cash flow and repayment. We'll let our VC/Private equity friends worry about the economy, your industry, market potential, etc... we're focusing on getting approved for a business loan and repayment.

So if we had to emphasize the key points around business loan success in Canada they would categorically be:

Quality of collateral
The ability to meet ratios and covenants that might be required
Cash flow analysis -historical and future
Personal financial info/credit of the business owners


When it comes to business loans from banks it's important for the business owner/financial manager to understand that ' branch banking' isn’t really what it used to be! That's because the majority, if not all business credit decisions are made by underwriters at head office. That's why it's critical to get a strong recommendation on your submission from your branch banker.

There's an old joke that goes as follows: ' It's technically impossible to give a banker too much information '. We're not sure we agree 100% with that, but it's pretty close we would say, so your ability to answer 'negative issues' and ' questions' with quality financial and business information is key.

Loans are always going to be repaid from cash flow, so if you're not bringing new or more personal equity into your company be prepared to demonstrate the cash flows and collateral quality of your financials.

If you’re applying for a Govt SBL loan through your bank the challenge for this type of commercial loan is very straightforward. You need to simply understand the very clear criteria around this program and fulfill the application needs with that info. Those criteria are fundamental - a business plan, personal credit info, cash flow forecast, a premises lease, and business owner info/experience.

There's not ' out of the box' instant solution for business loans in Canada. But some homework and common sense will go far. Seek out and speak to a trusted , credible and experienced Canadian business financing advisor with a track record of Success ; providing you with that business loan intelligence you need.



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 :


7 Park Avenue Financial = Canadian Business Loan Expertise



Have A Question /Comment On Our Blog Or Canadian Business Financing Alternatives ?


CONTACT:
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8

Phone
= 905 829 2653


Email
= sprokop@7parkavenuefinancial.com
































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