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.
Friday, November 28, 2014
The Government Of Canada Business Loan : A Better Way Via Unsecured Business Loans
Govt SBL Small Business Loans Fix The Burning Desire To Start Or Grow A Business
OVERVIEW – Information on the government of Canada business loan . These guaranteed unsecured loans are the entrepreneur/business owners solid route to starting or growing a business
Unsecured business loans , via the Government of Canada business loan program almost always (and done properly) satisfy the need of the entrepreneur/business owner to start or grow a business. It has become a great way to quench the burning desire of entrepreneurs to finance or begin a business. Let's dig in.
When business people become aware of the program all of a sudden the goal of financing a business becomes within reach. That is not to say of course that numerous other challenges exist (location, staff, generating revenues to budget), they do, but the idea of obtaining the cash flow you need in a form that is very competitive is all of a sudden very appealing.
Not having the right or enough financing in place can often backfire relative to owner credibility - in business 2nd chances are hard to come by in many cases.
The appeal of the program essentially revolves around the fact that it provides competitive financing, up to 350k, for businesses that can't access traditional capital from Canadian banks. Rates for the program are in the 3% over prime range, and at today's low rates that’s very appealing for start up or SME COMMERCIAL FINANCE needs. By the way, the size of your firm, projected or actual, must be under the 5 Million dollar range on an annual basis.
Government SBL small business loans are offered by INDUSTRY CANADA, a part of our federal govt in Canada; but they are administered and approved by Canadian chartered banks. The government provides credibility to your loan via a guarantee to the banks for a substantial part of the loan. What bank doesn't like that?!
When we meet with clients requiring this type of loan it's often necessary to instantly clarify what the loan finances. That is new or used equipment, leasehold improvements, and real estate. What it does not cover, much to the disappointment of many, is working capital, refinancing existing loans, and inventory. Those needs can of course be accomplished by other finance sources including:
Leasing
Receivable and Inventory Cash Flow Financing
Sale Leasebacks
Tax Credit Monetization of SR&ED claims
Asset based ABL lines of credit
To qualify applicants need a reasonable personal credit history, a business plan and cash flow forecast that reflects the potential success of the program, and basic info that would in fact be part of any other business financing loan - i.e. incorporation details, details of use of funds, a premises lease, etc?
If you're looking for the ' better way ' in business start up or growth financing seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with capital needs.
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 GOVT BUSINESS LOAN AND UNSECURED LOANS EXPERTISE
Have A Question /Comment On Our Blog Or Canadian Business Financing Alternatives ?
CONTACT:
7 Park Avenue FinancialSouth 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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