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, January 31, 2014
Why Business Credit Doesn’t Have To Be An Epic Battle When It Comes To Loans And Sources Of Finance
Has Taking On Business Financing In Canada Changed?
OVERVIEW – Information on changing trends and solutions for business credit in Canada for the SME sector .Sources of Loans and finance alternatives have changed dramatically
Has business credit and access to financing solutions really changed that much in Canada. It has if you talk to many of the clients we meet, many of whom consider it an epic battle
to access the financing they need to run, and as importantly, grow their companies. Let's dig in.
While Canadian chartered banks are doing as great as they always have many firms in the SME ( small to medium enterprise ) sector feel the credit borrowing standards for loans and other bank solutions have in fact not eased to the extent the banks maintain they have since the 2008 global implosion.
When you think about it , it’s all about getting credit, and ‘ giving ‘ credit, as your ability to provide credit terms to clients that match their needs can make or break your business. And both of those issues, i.e. accessing credit, and supplying credit to your clients affect profits, sales, and cash flow. It’s a holy triumvirate of sorts.
So what does the business owner/financial do when they find themselves ' discouraged' by the lack of business financing solutions? One alternative is in fact just that... ‘Alternative financing ' via non bank solutions.
When it's all about ' Cash flow ' and access to credit lines, term loans and equipment financing numerous solutions are available. Some are what we could call ' direct replacements' for bank solutions; others are derivatives or extensions of what main street calls ' Traditional Financing '.
A recap of these solutions? We thought you would never ask!
Confidential Receivable Financing
Working Capital Term Loans
Purchase Order Financing
P O Financing
Asset based non bank lines of credit
Govt SBL loans
Tax Credit Monetization for SR&ED and Film refundable credits
The need for cash flow and working capital solutions is a dynamic one, we can easily call it a ' moving target ‘. Many of the alternative solutions referenced above relate to what the finance industry calls ' bulge' requirements that arise over time with the ebb and flow of business success and challenges. The bottom line - Simply that good cash flow and debt financing needs today might, and often aren't there tomorrow.
Qualifications of course vary for each alternative finance solution, but suffice to say that since they are all ' non bank' in nature they are infinitely more achievable when you have assets, sales, and prospects that can be substantiated.
Is business credit important to Canadian owners and financial managers? It is if you believe cash flow is king. Never ' bank' on the fact that your firm is un- financeable - Seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you in fighting that epic battle for loan and finance success in Canada.
Stan Prokop - 7 Park Avenue Financial :
7 Park Avenue Financial = Canadian Business Financing Expertise !
Have A Question /Comment On Our Blog Or Canadian Business Financing Alternatives ?
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Direct Line = 416 319 5769
Office = 905 829 2653
Email = email@example.com
' Canadian Business Financing with the intelligent use of experience '