Our blog highlights Canadian Business Financing solutions via receivable finance , equipment finance, working capital financing, asset based lending, business acquisition financing,franchise finance, and tax credit monetization via SRED and Film Tax Credits. Our goal is to educate and assist Canadian businesses with their financing needs. You Are Looking For Canadian Business Financing! Welcome to 7 Park Avenue Financial Call Now ! - Direct Line - 416 319 5769
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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.
Thursday, February 20, 2014
Financing For Franchising Opportunities In Canada : Is A Franchise Finance Loan Science .. Or Art?
‘ Who You Gonna Call’ When It Comes To Financing For Franchising In Canada?
OVERVIEW – Information on financing for franchising in Canada . What are the key ingredients of a franchise finance loan when entrepreneurs seek opportunities as a franchisee
Financing for franchising in Canada is often viewed as a ' who you gonna call ' situation for many prospective franchisees' in Canada. We're ourselves still not sure whether a total solution financing package for a franchise purchase is an art of a science - in fact it’s probably a bit of both.
And frankly more often than not they are ' flying solo’ when it comes to their search for a franchise finance loan. There are some reasons for that, so let's dig in.
We recently read a great article by a Toronto franchise lawyer who reaffirmed (thankfully!) what we have been saying for a long time. Some of those key points included:
A decent chunk of the equity in a new franchise needs to come from the borrower
Franchise finance scenarios differ from many forms of traditional financing because there are numerous aspects: franchise fees, leaseholds, working capital, assets, technology, and in some cases real estate
The type of financing you are going to receive also has a lot to do with your overall personal net worth and personal credit score at the credit bureau
While Canadian chartered banks are viewed as the most logical ' go to ' source for financing in fact this is somewhat misunderstood given that the majority of loans approved for franchises are under the auspices of the Canada small business financing program - which is a government guaranteed loan .
So, while the upshot of the article was clearly, and we quote ' they will likely be on their own when it comes to financing ‘the franchisee shouldn’t despair. Why? Simply because if you have the help and assistance you need from a 3rd party non biased source there are a number of ways to solidify financing for franchising.
Those methods include:
Specialized franchise loan financiers
The Govt SBL program
Supplemental financing via cash flow term loans, equipment financing, and merchant cash advances
The one spot most franchisees think they will get the most help will in fact be where they get the lease help. Thats because franchisors are interested in selling you a franchise, helping you run it via their business models, but are not interested, ( or able) to assist you . Here it might make maximum sense to seek out the expertise of a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with making your business opportunity a total success.
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 franchise financing 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 '
Stan Prokop
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