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.
Wednesday, June 11, 2014
Business Credit Lines : An Everyday Guide to Thinking Big On A Commercial Line Of Credit
How To Achieve business credit lines that actually work like the other 49% of Companies
OVERVIEW – Information on business credit lines in Canada. What access to a commercial line of credit means to your company
Business credit lines in Canada are often a solution to one of the biggest challenges business owners and financial mangers face - namely ' cash flow shortfalls'.
Canada's leading bank recently advised that over 51% of business has those cash flow challenges. So your company wants to be in that other 49% and a commercial line of credit can be the answer, so let’s dig in.
There's no greater lesson in working capital financing than managing your way through finance shortfalls. As simple as the solution is the business owner/manager will surely agree with one of our mentors who once said ' tuition is very high in the school of experience'.
While the Canadian banks tout support of the SME COMMERCIAL finance sector the reality is that bank credit lines are tough to get, and not everyone understands there are alternatives.
We always; point out that the need for any external financing can be eliminated though by some sound internal mgmt (PHYSICIAN HEAL THYSELF?!) - that includes improving a/r and inventory turns, watching who you extend credit to, and matching finance options to finance needs . For example utilize equipment financing to finance long term fixed asset needs.
Often the issue of ' seasonality' or what we could call temporary bulges in financing needs is the root of the problem. Enter the business credit line, allowing you to draw on business assets via a revolving facility.
Companies in early stage have a major challenge in accessing credit lines, the main reason being they don't have the proven profits, debt structure, and cash flow ratios required. They then insist on outside personal assets which owners may be unwilling or unable to provide.
ALTERNATIVES? They include proven financing solutions such as -
Factoring / Confidential Receivable Finance
Secured inventory financing
Monetizing SR ED tax credits via a cash flow loan
Working Capital Term Loans
Sale leaseback strategies
Non bank ABL asset based lines of credit
P O / Contract Financing
Royalty Financing
Critical to achieving business line of credit success is your ability to present your case properly. This may be done by the owner, financial manager, or an experienced business financing advisor.
If you are unable to present your year end financials, an interim balance sheet and income statement, as well as a cash flow forecast you are already behind the 8 ball. If you want to really impress the bank or commercial finance company be armed with aged payable, receivables, and possibly a list of fixed assets.
We've provided everyday solutions to business credit needs. If your business is one of the 51% that needs some form of traditional or alternative cash flow financing via business credit seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you to ' think big' on fixing the financing conundrum.
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 BUSINESS LINE OF CREDIT 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
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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